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Below the Daily Market Analysis 13 December 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd

Markets ended marginally higher amid volatility, in continuation to the prevailing consolidation phase. Weakness in the IT majors was weighing on the sentiment in the first half however recovery in heavyweights from other sectors trimmed the losses as the day progressed. Eventually, the Nifty index settled around the day’s high at 20,932.35 levels. The broader indices outperformance amid choppiness and gained nearly a percent each.

Indications are in favor of further consolidation in the index but the bias would remain on the positive side. Participants should maintain their focus on stock selection and overnight risk management.  We feel the performance of the US markets would play a critical role in setting the next leg of the directional move so keep a close eye on them for cues. 

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