IGI Logo

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

Markets traded with volatility, losing nearly half a percent as the consolidation phase continued. The first half of the session was subdued, with the Nifty inching higher but failing to surpass Tuesday’s high. Sentiment shifted in the second half with a sharp decline in select heavyweight stocks, leading to a close at 24,918.45, down by 0.5%. Most sectors ended lower, with energy, metals, and autos among the top losers. The broader indices showed a mixed trend, with small caps losing nearly 1%.

Excessive volatility, driven by mixed global cues, is likely to persist, especially with upcoming U.S. data releases. On the technical front, Nifty is hovering around the support of its short-term moving average, the 20-day EMA, at 24,900. Sustaining this level is crucial for any potential rebound; otherwise, profit-taking may resume. Traders are advised to maintain a stock-specific approach and hold positions on both sides of the market.

Above views are of the author and not of the website kindly read disclaimer