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

Markets traded volatile and closed almost unchanged, in continuation to the previous trading session. After the flat start, the Nifty oscillated in a range and finally settled at 24,315.95 levels. Meanwhile, a mixed trend on the sectoral front kept the traders occupied wherein energy and FMCG ended in the green while realty and pharma closed lower. Meanwhile, the broader indices showed some strength and closed marginally higher.

We are seeing consolidation in the index on the expected lines and it is likely to continue on Friday as well. Traders should concentrate on sectors or themes demonstrating resilience and consider stocks with favorable risk-to-reward citing the overbought market scenario. 

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