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

Markets took a breather on Friday and ended almost unchanged amid mixed cues.  After the flat start, Nifty hovered in a narrow range till the end and finally settled at 22,212.70 levels. Meanwhile, a mixed trend on the sectoral front kept the traders occupied wherein realty and pharma edged higher while metal and IT closed in the red.  The broader indices too traded dull and ended marginally higher.

Indications are in the favor of prevailing uptrend to continue thus traders should use intermediate dips to add quality stocks. Also, they should maintain a close watch on the global indices; especially the US, and the participation of the banking majors for cues on momentum. 

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