Daily Market Analysis : Markets experienced volatility and ended down nearly half a percent amid mixed signals Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote on Daily Market Analysis by Ajit Mishra, – SVP, Research, Religare Broking Ltd.
Markets experienced volatility and ended down nearly half a percent amid mixed signals. Following an initial dip, the Nifty moved within a range, ultimately closing near the lower end. Most sectors, except FMCG, declined, with banking, pharma, and IT leading the losses. However, broader indices showed resilience, with the small-cap index gaining over a percent.
Nifty has struggled to surpass the 24,500 resistance level for the past three sessions due to mixed trends among heavyweights. We continue to recommend focusing on leading stocks in banking and IT for a decisive break above this level; otherwise, consolidation is likely to persist. In the meantime, traders should maintain a hedged approach and prioritize selective stock picking.
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