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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

Markets paused after four days of consecutive declines, ending slightly higher. Following an initial uptick, the Nifty fluctuated within a range before closing at 22,530.70. Sectoral activity was mixed, with metals and real estate performing well, while IT and pharma were among the top losers. The broader indices outperformed, each gaining nearly half a percent.

As the countdown to the election results begins, we anticipate continued market volatility. We see immediate support for the Nifty at 22,400; a break below this level could intensify downward pressure. On the upside, a rebound might be capped in the 22,800-22,900 zone. Given these conditions, we maintain a cautious outlook and recommend closely monitoring leveraged positions.

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