Daily Market Analysis : Markets remained subdued for the third consecutive day, ending slightly in the green Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
Markets remained subdued for the third consecutive day, ending slightly in the green. After a flat opening, the Nifty moved within a narrow range, closing at 25,418.55. Sector-wise, realty and auto saw gains, while metal and pharma ended in the red. Simultaneously, profit-booking in the midcap and smallcap segments led to weaker market breadth.
The recent market action suggests that participants are in a wait-and-watch mode ahead of the US Fed meeting, although rotational buying in large-cap stocks is maintaining a positive tone. We recommend continuing with a “buy on dips” strategy, targeting an upside of 25,550 in the Nifty. Additionally, selective sectors like banking, financials, realty, and IT are presenting stock-specific buying opportunities so plan the trades accordingly.
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