Daily Market Analysis : The markets remained lackluster for another session, closing marginally in the green, extending Friday`s brief recovery Says Mr. Ajit Mishra, Religare Broking Ltd
Below the Quote on Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
The markets remained lackluster for another session, closing marginally in the green, extending Friday's brief recovery. After an initial uptick, the Nifty traded within a narrow range, eventually settling at 25,383.75 level. Sectoral trends were mixed, with energy and metals showing decent gains, while FMCG and IT saw slight declines. Market breadth leaned slightly positive, aided by selective buying interest in the midcap and smallcap segments.
The ongoing time-wise correction in the index is seen as healthy, and participants are encouraged to stick with a "buy on dips" strategy. We continue to favor banking, financials, realty, metal, and IT sectors. Traders should focus on identifying stronger stocks with relative strength, accumulating them gradually during this phase.
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