Daily Market Analysis : The market continued its rebound, extending Monday`s gains by over half a percent Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote On Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
The market continued its rebound, extending Monday's gains by over half a percent. Throughout the day, the Nifty gradually climbed higher, settling at 22,222.5 level. Sector-wise, there was a mixed trend, with metal and auto sectors showing strong gains while defensive sectors like FMCG and pharma saw profit-taking. The broader indices performed well, gaining between 1% to 2%.
The Nifty is now approaching the hurdle zone around 22,300 after two days of rebound, which might lead to a pause or a resumption of a corrective phase. However, a decrease in volatility could limit the decline. The mixed sectoral trend presents opportunities for traders on both sides of the market, so it's important for them to plan their positions accordingly.
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