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Below the Market Analysis 10 November 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd

Markets remained volatile for yet another session and ended marginally higher. After the initial downtick, the Nifty inched gradually higher and settled around the day’s high at 19,442.70 levels. Meanwhile, a mixed trend on the sectoral front kept the traders occupied wherein metal and energy posted decent gains while auto and IT were on the back foot.  The broader indices continued their outperformance and gained over half a percent each. 

We are seeing rotational buying across heavyweights, which is helping the index to hold strong amid consolidation. Markets are now awaiting fresh triggers and it could probably be from the global markets. Meanwhile, traders should stay focused on stock selection and maintain a positive bias until the Nifty breaks 19,200. 

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