IGI Logo

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

The market began the week with a slight decline but managed to close flat, continuing its consolidation phase. After an initial drop, Nifty gradually climbed in the first half of the session, followed by a range-bound movement until the close, finishing at 23,537.85, up by 0.16%. Sector performance was mixed, with the auto and FMCG sectors performing well, while metal and IT sectors remained subdued. A similar trend was observed in broader markets, where midcaps closed in the green and smallcaps ended nearly unchanged.

This consolidation in the index appears healthy so far, and we anticipate it will conclude soon. In the meantime, traders should maintain a "buy on dips" strategy, focusing on stock selection, until Nifty breaks below 23,100.

Above views are of the author and not of the website kindly read disclaimer