Daily Market Analysis : Nifty remained in a narrow range for most of the day and finally settled at 19,226.05 levels Says Mr. Ajit Mishra, Religare Broking
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Below the Market Analysis 03 November 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Markets extended gains for yet another session and rose nearly half a percent. After the gap-up start, Nifty remained in a narrow range for most of the day and finally settled at 19,226.05 levels. All sectors contributed to the move wherein realty, oil&gas and banking posted decent gains. The broader indices too traded upbeat and moved up in the range of 0.60%-1.00%.
Nifty has penetrated the resistance zone after two days of advance and tested the immediate hurdle of 100 EMA around 19,276 as well. We reiterate a cautious view on the index and suggest awaiting a decisive break above 19,400 for a sustained recovery else the up move would fizzle out. However, there is no shortage of stock-specific opportunities so traders should maintain their focus on stock selection.
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...
