Daily Market Analysis : Markets started the week with a cut amid mixed cues and lost over half a percent Says Mr. 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 Quote on Market Analysis by Mr. Ajit Mishra, SVP- Technical Research Religare Broking Ltd.
Markets started the week with a cut amid mixed cues and lost over half a percent. After the flat start, Nifty slipped gradually lower and finally settled around the day’s low at 21,616.05 level. Most sectors felt the heat wherein realty, metal, energy and banking were among the top losers. The sharp decline in the broader indices, midcap (-2.57%) and smallcap (-4.04%), further dented the sentiment.
The banking index has retested its long term moving average i.e. 200 DEMA and others are also witnessing profit taking now. It would be difficult for Nifty to hold 21,600 in the prevailing scenario. We thus recommend maintaining shorts as well and using any pause or rebound to reduce longs.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/jul04v89_Wex0B3E.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Zomato07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Piyush Goyal07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul04v38_zDiylqc.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Prashant Thakur ANAROCK Group.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v152_BhgJWbe.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
Top News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/01/4e94b5a0ee1c0c2015bba296170065db.jpg)
JSW Ispat Special Products rises after its crude steel production stands at 0.14 MT in Q3FY22
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
Market Explorer - July 2024 by Religare Broking Ltd
![Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
![Sensex closes above 80,000 for first time, Nifty at 24,302](https://portfolio.investmentguruindia.com/uploads/news/stock28.jpg)
![Daily Market Analysis : The markets traded within a narrow range and ended nearly unchanged, pausing after Wednesday`s gains Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)