Daily Market Analysis : Markets oscillated sharply on both sides and finally ended the session with a gain of nearly a percent Says Mr. Ajit Mishra, Religare Broking
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Daily Market Analysis by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Markets oscillated sharply on both sides and finally ended the session with a gain of nearly a percent. After the flat start, Nifty drifted lower in continuation to Wednesday’s decline and tested the support zone of short term moving average i.e. 20 DEMA. However, the tone changed completely in the latter half, with a sharp recovery in the heavyweights across sectors. Consequently, Nifty not only pared losses but also made a new record high. IT, auto and metal were among the top gainers on the sectoral front while banking ended almost unchanged. The broader indices also witnessed respite and gained in the range of 0.7%-1.06%.
The move shows that bulls are in control thus participants should continue with a “buy on dips” approach until Nifty decisively breaks the 21,800 level. At the same time, we are seeing a mixed trend within the sectors so participants should maintain extra caution in stock selection and prefer counters with higher relative strength.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/geojit market watch.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/mobile57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/health57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/oilandgas57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ICICI Direct IMAGE.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/share57.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/geojit market watch.jpg)
Market Watch : US jobs data eyed for rate cut ideas - Geojit Financial Services Ltd
![The benchmark equity indices extended their record rally for the second consecutive session - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![Index is likely to open on a flattish note today and is likely to remain range bound during the day - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![Nifty has an immediate support placed at 24240 and on a decisive close below expect a fall to 24170-24100 levels - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/Broker_88.jpg)
Daily market commentary : Nifty ended the session with loss of 50 points (-0.2%) at 21571 le...
![The Markets are expected to open marginally lower today as trend in SGX nifty indicate a negative start - ARETE Securities Ltd](https://portfolio.investmentguruindia.com//uploads/news/arete securities.jpg)
![Daily market commentary : Nifty traded in a narrow range post-major event and closed with a loss of 28 points at 26697 levels says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd](https://portfolio.investmentguruindia.com/uploads/news/Broker _16.jpg)
![India VIX closed with 2.34% cut at 12.22 level - Monarch Networth Capitals](https://portfolio.investmentguruindia.com/uploads/news/Monarch Networth Capital.jpg)