Daily Market Analysis : Markets traded dull and settled almost unchanged, in continuation to the prevailing consolidation phase Says Mr. Ajit Mishra, Religare Broking
Below Quote Daily Market Analysis 11 January 2022 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets traded dull and settled almost unchanged, in continuation to the prevailing consolidation phase. After the initial uptick, Nifty slipped gradually lower however recovery in the select index majors pared the losses in the final hour. Consequently, Nifty closed at 21647.20 levels; up by 0.13%. A mixed trend continued on the sectoral front wherein energy and auto performed well while media and realty closed with modest cuts.
Nifty has been hovering in a range for almost two weeks now and a mixed trend in index majors is not offering any clear signal over the next directional move. We feel participants should prefer hedged positions, with the beginning of the earnings season and wait for clarity.
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