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
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
Top News
Indian banking sector resilient, yet should keep eye on macroeconomic situation: RBI Governor
Tag News
Market Quote : FII-triggered selling pressure continued to impact the domestic market Says V...
More News
Quote on Bank Nifty : Banking benchmark Index dropping below the 45,000 mark for the first t...