Daily Market Analysis : Markets started the week on a muted note and ended marginally lower amid mixed cues Says Mr. Ajit Mishra, Religare Broking
Below the Market Analysis 16 October 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.
Markets started the week on a muted note and ended marginally lower amid mixed cues. After the flat start, Nifty hovered in a narrow range and finally settled at 19731.75; down by 0.10%. Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein metal and auto edged higher while pharma and realty witnessed profit taking. The broader indices outperformed the benchmark and closed marginally in the green.
We feel the muted action may continue in the index until we see alignment between the Nifty and the banking index. However, there is no shortage of trading opportunities across sectors so participants should plan their positions accordingly.
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