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

"Markets traded in a volatile range and ended largely flat, pausing after Monday’s rebound. Following a subdued start, Nifty gained momentum in the early hours, but profit booking in select heavyweights across sectors erased the gains. Sectoral trends were mixed, with FMCG and auto inching higher, while metal and IT sectors remained under pressure. Broader indices also remained muted and closed near the flatline.

The market appears to be consolidating after the recent decline and is currently hovering around the support zone of its long-term moving average (200 DEMA). Among the sectoral indices, defensive like pharma and FMCG are showing resilience while we are seeing pressure across the board. Signs point to a potential further decline, so traders should exercise caution and remain selective."

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