Daily Market Analysis : Markets started the week on a feeble note and lost nearly half a percent, in the absence of any major trigger says Ajit Mishra, Religare Broking
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Market Analysis by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Markets started the week on a feeble note and lost nearly half a percent, in the absence of any major trigger. The tone was subdued from the beginning and the decline in select heavyweights kept the bias negative for most of the session. Consequently, Nifty settled at 22,115.05 level; down by 0.4%. The majority of sectors too traded under pressure wherein IT and metal were among the top losers. The broader indices too witnessed a muted action wherein both midcap and smallcap ended marginally lower.
The underperformance of the banking majors is largely weighing on the sentiment however favorable global cues and rotational buying in other heavyweights are capping the damage. Amid all, we reiterate our view to continue with a “buy on dips” approach until Nifty decisively breaks 21,900 levels. However, traders should maintain extra caution in stock selection citing mixed participation and avoid high beta counters.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Clean Science and Technology.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Somany logo.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/startup.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Srinivas Narayanan.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Mongolia.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/nitingadkari37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v68_wcHr0zT.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IT Sector03.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bharti Airtel Ltd.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Stock bull.jpg)
Sensex touches 80,000 for first time, Nifty at all-time high
![Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
![Daily Market Analysis : Markets edged higher, gaining over half a percent, driven by favorable cues Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Quote on Kotak Mutual Funds for Sensex at 80000 by Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co. Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co. Ltd.jpg)