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

The market exhibited volatility during trading hours but managed to gain nearly one percent, indicating a continuation of its recovery trend. Positive global cues led to a gap-up opening in the Nifty; however, the initial gains diminished quickly as the session progressed. Subsequently, it witnessed sharp fluctuations on both sides before settling near the day's peak around the 22,095 level. Most key sectors participated in this movement, with IT and realty sectors being notable gainers. The broader indices followed suit, each registering a nearly one percent increase.

Nifty successfully surpassed the obstacle at 22,300, with a slight dip in the volatility index. The sustainability of this upward momentum could pave the way for further gains towards 22,600 levels. The participation of major players in the banking and IT sectors, coupled with cues from the US markets, is expected to be crucial going forward. Traders are advised to adjust their strategies accordingly, with focus on stock selection.

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