Daily Market Analysis : Nifty opened with an uptick and traded range bound thereafter Says Mr. Ajit Mishra, Religare Broking
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Below Quote Daily Market Analysis 12 September 2023 By Mr. Ajit Mishra, VP - Research, Religare Broking Ltd
Markets extended up move after a day of pause and gained nearly half a percent. On the benchmark front, Nifty opened with an uptick and traded range bound thereafter. It finally settled at 20,192.35 levels; up by 0.44%. Meanwhile, the trend was mixed on the sectoral front wherein auto and IT posted strong gains while realty and FMCG ended in the red. The broader indices too were aligned with the move and gained nearly half a percent each.
We expect a positive tone to continue in the Nifty, with some intermediate consolidation citing a hurdle at 20,300 levels. Participants should maintain a “buy on dips” approach and look for stocks offering a favorable risk to reward ratio.
Above views are of the author and not of the website kindly read disclaimer
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