Daily Market Analysis : Nifty faces an immediate resistance zone around 25,150-25,300, with a significant hurdle still at 25,500 Says Mr. Ajit Mishra, Religare Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
After six consecutive days of decline, the markets rebounded, gaining nearly 1%. Following a flat start, the Nifty gradually climbed throughout the day, primarily driven by a recovery in select heavyweight stocks, and closed near the day's high. Most sectors contributed to the rise, with auto, energy, and pharma leading the gains. The broader indices also saw a recovery, advancing over 2% each.
While the recovery in key heavyweights could drive Nifty further upward, sustaining this momentum may be challenging. Nifty faces an immediate resistance zone around 25,150-25,300, with a significant hurdle still at 25,500. Traders should consider using this recovery to lighten positions and remain selective for long trades. We continue to favor IT and pharma stocks for their resilience and recommend careful stock selection in other sectors.
Above views are of the author and not of the website kindly read disclaimer
Tag News
Daily Market Analysis : Markets edged lower and lost over half a percent, in continuation to...
