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Below are Views On Market Analysis by Mr. Ajit Mishra, VP - Research, Religare Broking Ltd

Markets failed to capitalize on Monday’s advance and shed nearly a percent.  After the initial uptick, Nifty traded volatile in the first half however a sharp cut in select heavyweights in the final hour pushed the index lower. Eventually, it settled closer to the day’s low at 21,528.80 levels. Most sectors traded in tandem with the move wherein energy and FMCG were among the top losers.  Meanwhile, the broader indices traded mixed wherein the smallcap index managed to make a new high and ended marginally higher.

The recent price action shows indecisiveness among the participants despite the favorable global cues and we feel the prevailing tone may continue. Meanwhile, traders should focus on stock selection and maintain positions on both sides.

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