Daily Market Analysis : The Market kicked off the week on a positive note, gaining over half a percent, buoyed by strong global cues Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
The market kicked off the week on a positive note, gaining over half a percent, buoyed by strong global cues. Following an initial rise, the Nifty moved higher in the first half of the session, but profit-taking in select heavyweight stocks limited further gains later. Sector-wise, realty and IT saw gains, while metals and energy remained subdued. Broader indices also maintained a positive tone, each rising by nearly half a percent.
Traders will react to the results of heavyweights like Reliance and HCL Tech in early Tuesday trades. A recovery in major banking stocks, along with continued strength in IT, could drive further gains. However, the Nifty faces resistance at the 25,300 level. Traders are advised to maintain a stock-specific approach and consider hedged strategies.
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