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

Markets traded volatile and ended almost unchanged, taking a breather after Tuesday’s decline.  After the initial uptick, it resumed decline in no time however recovery in select heavyweights pared losses as the session progressed. On the sectoral front, a mixed trend continued wherein energy, FMCG and realty edged higher while metal and financials ended in the red.

We may see a breather after the recent fall but the tone is likely to remain negative. Participants should continue with the “sell on rise” approach until Nifty decisively reclaims 22,100 level. Also, we reiterate our preference for index majors over others and avoid adding to the loss making positions.

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