Daily Market Analysis : Markets made a subdued start to the week and ended almost unchanged, taking a breather after the recent surge Say`s Ajit Mishra, Religare Broking Ltd
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Below the Daily Market Analysis 11 December 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Markets made a subdued start to the week and ended almost unchanged, taking a breather after the recent surge. After the initial uptick, Nifty remained in a range till the end and finally settled at 20,997.10 level. Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein metal, realty and PSU banking were in the limelight. Besides, the broader indices put up a good show and gained in the range of 0.7%-0.9%.
We are seeing consolidation in Nifty with a positive bias and it has formed an immediate support base around the 20,700-20,800 zone. Traders should continue with a “buy on dips” approach and stay focused on stock selection. We feel positive cues from the US markets could trigger the next leg of the up move so keep a close watch on their performance.
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