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

"The markets began the calendar year on a positive note, gaining nearly half a percent. After an initial decline, buying interest in select heavyweight stocks across sectors quickly erased losses, gradually pushing the index higher. As a result, the Nifty reclaimed its long-term moving average, the 200 DEMA, and ended at 23,742.90. Most sectors contributed to this recovery, with auto and energy emerging as top performers. Similarly, the broader indices followed suit, recording gains ranging from 0.4% to 1.05%.

The index has now entered its second week of consolidation, and current indicators suggest that this trend is likely to persist. We continue to advocate a stock-specific strategy, focusing on counters exhibiting relatively stronger momentum. Besides pharma and healthcare, selective opportunities are emerging in the FMCG and energy sectors, so traders should position themselves accordingly."

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