Daily Market Analysis : Markets traded volatile after Monday`s decline and settled marginally lower amid mixed signals Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Markets traded volatile after Monday’s decline and settled marginally lower amid mixed signals. Initially, a recovery in global indices prompted a gap-up start, but pressure on heavyweights, particularly in the banking sector, erased the gains. Meanwhile, a mixed sectoral trend kept traders engaged, with realty, IT, and metal sectors edging higher while banking and auto sectors ended lower. The broader indices traded lackluster and closed slightly down.
Nifty is attempting to defend the short-term moving average, the 50 DEMA, but the overall sentiment remains negative. Mixed global cues may continue to cause volatile swings. Amidst this uncertainty, traders should limit their positions and adopt a hedged approach until stability returns.
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