Daily Market Analysis : The broader indices extended underperformance as the smallcap index lost nearly half a percent Says Mr. Ajit Mishra, Religare Broking
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Market Analysis by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd
Markets started the week on a muted note and ended almost unchanged, taking a breather after the recent surge. After the flat start, Nifty hovered in a narrow range till the end and finally closed at 22,405.60 levels. Meanwhile, a mixed trend on the sectoral front kept the traders occupied wherein energy, pharma and banking edged higher while IT, FMCG and auto closed in the red. The broader indices extended underperformance as the smallcap index lost nearly half a percent.
It is a healthy pause after the recent surge and participants should continue with a “buy on dips” approach. We reiterate our view to focus on banking for momentum while others would continue to play a supporting role on a rotational basis.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/geojit market watch.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/mobile57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/health57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/oilandgas57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ICICI Direct IMAGE.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/share57.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/geojit market watch.jpg)
Market Watch : US jobs data eyed for rate cut ideas - Geojit Financial Services Ltd
![The benchmark equity indices extended their record rally for the second consecutive session - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![Index is likely to open on a flattish note today and is likely to remain range bound during the day - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![Nifty has an immediate support placed at 24240 and on a decisive close below expect a fall to 24170-24100 levels - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Daily Market Analysis : Markets started the week on an upbeat note and gained 2%, tracking f...
![Mid Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India`s Deep Discount Broker](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
![Daily Market Commentary : Nifty continued its upward trajectory, making new high of 23889 for the 2nd consecutive day and gradually inching upwards to 24k mark Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/uploads/news/Broker_5.jpg)
![Morning Nifty and Derivative comments 06 November 2023 By Anand James, Geojit Financial Services](https://portfolio.investmentguruindia.com//uploads/news/broker_86.jpg)