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

"Markets remained subdued on the monthly expiry day, ending almost flat as the consolidation phase continued. After an initial uptick, Nifty gradually drifted lower and traded within a narrow range for the rest of the session. Sectoral performance was mixed, with auto, pharma, and realty posting gains, while FMCG and banking remained under pressure. The broader indices also traded within a range and closed nearly unchanged.

Despite the bearish sentiment, participants should await a decisive breakout from the 23,650-23,870 zone for clear directional cues in the index. Pharma and healthcare sectors continue to show strength, while selective recovery is visible in sidelined sectors like FMCG and energy. Traders are advised to adopt a stock-specific approach and maintain prudence with leveraged positions."

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