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Below the Market Analysis 07 November 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd

Markets took a breather after three days of advance and ended almost unchanged.  After the flat start, Nifty oscillated in a narrow range till the end and finally settled at 19,406.70 levels.  A mixed trend was witnessed on the sectoral front wherein pharma and energy posted decent gains while realty and media settled lower. The broader indices managed to edge higher for yet another session wherein smallcap gained nearly a percent.

We may see further consolidation in the index in line with the global peers however there will be no shortage of stock-specific opportunities. Traders should align their positions accordingly, with a focus on sectors that are trading in sync with the benchmark. 

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