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

'The market exhibited high volatility on the monthly expiry day but managed to extend its winning streak for the third consecutive session. After an initial surge, Nifty saw profit-taking in the mid-session before a late rebound helped it close with decent gains. Sectoral performance remained mixed, with realty, energy, and pharma outperforming, while IT, media, and auto lagged. Broader indices pared early gains and ended flat.

With the budget countdown underway, we anticipate continued market fluctuations. Nifty is encountering resistance around its 20-day EMA at 23,300, and a decisive close above this level is crucial for further recovery. Otherwise, the index may face renewed pressure and again inch toward the 23,000–22,700 zone. In this environment, traders should emphasize selective stock picking and robust risk management."

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