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

The market maintained a consolidation bias on Friday, closing marginally in the green. After an initial dip, the Nifty quickly rebounded and remained range-bound until the close, eventually settling at 23,465.60, up by 0.29%. Buying interest in the auto, realty, and metal sectors kept traders engaged, while IT lagged. Additionally, the broader market buoyancy contributed to positive market breadth.

Indications suggest further consolidation in the Nifty index. Traders are advised to use any dip around the 23,100-23,300 zone to initiate fresh positional longs. A decisive close above 23,600 could trigger an uptrend towards the 24,000 zone. Meanwhile, a stock-specific trading approach is proving effective, and participants should align their positions accordingly.

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