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

"Markets witnessed sharp fluctuations throughout the session before closing flat, reflecting a continued tussle between opposing forces. Early in the day, pressure from heavyweight sectors, particularly banking, dragged the index lower. However, a recovery in select major stocks helped pare losses as the session progressed. By the end, the Nifty settled nearly unchanged at 23,688.95.  

Sectorally, the performance was mixed, with IT and FMCG sectors inching higher, while pharma and metals ended in the red.  

Despite the negative trend, oversold positions in certain heavyweight stocks are limiting the pace of decline. We recommend maintaining a “sell on rise” strategy for the index while prioritizing prudent stock selection and effective risk management."

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