IGI Logo

 Below the Market Analysis 04 October 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.

Markets remained volatile for yet another session and lost nearly half a percent. After the gap-down start, Nifty further drifted lower in the first half however recovery in select heavyweights trimmed the losses as the day progressed.  Meanwhile, most sectors continued with a negative tone wherein realty, pharma and financials were among the top losers. The broader indices too felt the heat and lost over a percent each.

We may see some respite in the index after the recent slide but the upside seems capped citing feeble global cues. On the other hand,  the broader indices are now showing early signs of exhaustion, which may prompt fresh fall in the midcap and smallcap space. We thus recommend focusing more on trade management and maintaining positions on both sides. 

Above views are of the author and not of the website kindly read disclaimer