IGI Logo

Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

"Markets traded in a subdued manner and ended marginally higher, extending Tuesday's trend. Following a flat opening, the Nifty moved within a narrow range before settling at 23,213.20. Sector-wise, a mixed performance continued, with gains in realty, IT, and energy, while pharma and auto sectors closed in the red. Broader indices also remained lackluster, posting gains of nearly 0.5% each. 

The market seems to be pausing as recovery attempts face resistance, though select heavyweight stocks are limiting the downside. Investors are now closely eyeing earnings from Reliance, Infosys, and Axis Bank for directional cues. While the broader trend remains negative, a decisive break above 23,300 could lead to a rebound toward 23,500. On the other hand, a dip below 23,100 may trigger the next leg of a decline, pushing the index toward 22,700. Traders should align their strategies with a strong focus on risk management."

Above views are of the author and not of the website kindly read disclaimer