Daily Market Analysis : The Markets remained under pressure, shedding over a percent, extending the ongoing correction phase Says Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Below the Quote On Market Analysis by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd
The markets remained under pressure, shedding over a percent, extending the ongoing correction phase. Despite an initial uptick, Nifty witnessed sharp swings in the first half before selling pressure in heavyweight stocks shifted the momentum downward. Most sectors, including auto, FMCG, and metal, faced losses in line with the benchmark indices. Broader indices were not spared either, losing nearly 1.5% each.
Nifty has now edged closer to its previous swing low i.e. around 23800, with banking heavyweights leading the decline and dampening hopes of a recovery once again. Current signals suggest a potential test of the long-term moving average at the 200 DEMA level, around 23,540. Participants should adjust their positions accordingly and prioritize selective stock picking.
Above views are of the author and not of the website kindly read disclaimer
Tag News
Daily Market Analysis : Markets edged lower and lost over half a percent, in continuation to...
