Daily Market Analysis : Markets witnessed heightened volatility, continuing their downward trend, and ended nearly half a percent lower Says Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
"Markets witnessed heightened volatility, continuing their downward trend, and ended nearly half a percent lower. Despite a partial recovery from intraday lows, driven by a rally in IT stocks following TCS's results, sector-wide weakness resulted in a negative close. Except for IT, all other sectors faced selling pressure, with pharma, banking, and realty leading the declines. Broader indices suffered even steeper losses, falling around 2%-2.5%.
The market remains under strain, with even minor pullbacks attracting selling pressure. In the absence of any clear signs of a trend reversal, particularly in the banking index, traders are advised to use rebounds as shorting opportunities. Caution should remain a priority, with a focus on robust risk management. Additionally, as the earnings season kicks off, erratic market swings are likely to intensify. Adopting a hedged approach and maintaining disciplined position sizing is recommended for navigating the current conditions."
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