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

The markets remained range-bound for the fourth consecutive session, closing with minimal change. After a flat opening, the Nifty climbed in the first half but faced resistance near the 24,700 mark, limiting further gains. Sectoral trends were mixed, with FMCG, auto, and IT posting modest gains, while energy and banking saw slight declines. Notably, broader indices extended their upward momentum, with the small-cap index hitting a fresh record high.

We anticipate the consolidation phase to conclude soon, with the Nifty likely to surpass the 24,800 resistance level. While sectoral participation remains selective, the banking and IT sectors are expected to play a pivotal role in driving the next leg of the rally. Meanwhile, traders are advised to maintain a "buy on dips" strategy, focusing on prudent stock selection.

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