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

Markets traded volatile for yet another session and managed to end marginally higher amid mixed cues.  After the flat start, the the 22,19Nifty oscillated in a range till the end and finally settled around 8.35 level. Meanwhile, a mixed trend on the sectoral front kept the traders occupied wherein realty, IT and auto edged higher while financials and energy traded under pressure.  The muted performance continued on the broader front as both ended almost on a flat note.

The recent price action shows that bulls are consolidating their positions at record-high levels and waiting for some fresh triggers.  Needless to say, the buoyancy in the global market, especially the US market, is encouraging but we need alignment in heavyweights, especially the banking majors to trigger fresh momentum. Meanwhile, traders should continue with a “buy on dips’ approach, with a focus on stock selection

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