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

The markets traded lacklustre in a narrow range and ended the session slightly higher. On the benchmark front, the Nifty index closed at 23,581, up 0.30%. Sectorally, realty, metal, and private banking finished in the green, while Pharma, PSU Bank, and Auto sectors lagged. Broader indices also edged higher, both gaining over half a percent. 

Looking ahead, a decisive close above 23,600 in Nifty could trigger fresh upward momentum, potentially pushing the index to 24,000 levels. On the downside, 23,400 is expected to act as strong support. Besides banking and IT, themes like sugar, fertilizers and chemical are showing good traction on the expected lines. Traders should align their positions accordingly.

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