Daily Market Analysis : The market traded flat, taking a pause after Monday's decline Says Mr. Ajit Mishra, Religare Broking Ltd
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Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
The market traded flat, taking a pause after Monday's decline. The Nifty index opened with a positive start but couldn't sustain its gains, moving in a narrow range throughout the session before closing at 25,808, down 0.12%. Sector-wise, the trend was mixed—IT and auto sectors edged higher, while energy ended in the red. On a positive note, the broader indices outperformed and managed to close in the green.
Looking ahead, the index may see further consolidation. Traders should concentrate on careful stock selection and effective trade management during this phase. Focus on sectors or themes that are demonstrating resilience, and consider accumulating positions. Simultaneously, holding some short positions as a hedge may be prudent until the index signals a clear upward trend.
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