Daily Market Analysis : The markets traded within a narrow range and ended nearly unchanged, pausing after Wednesday`s gains Says Mr. Ajit Mishra, Religare Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Daily Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
The markets traded within a narrow range and ended nearly unchanged, pausing after Wednesday's gains. After an initial rise, the Nifty fluctuated throughout the day and settled near its lowest point at 24,306.55. Sector-wise, there was a mixed trend with pharmaceuticals, IT, and automotive sectors seeing moderate gains, while FMCG and metals remained subdued. The broader indices performed better than the benchmark, each gaining about half a percent.
The Nifty has approached its immediate target of 24,500 and appears slightly overextended. It would be prudent to take some profits and wait for a potential dip before considering new long positions in the index. Meanwhile, the broader market strength and specific sectoral buying opportunities suggest that traders should focus more on stock selection and utilize dip/consolidation to add quality names.
Above views are of the author and not of the website kindly read disclaimer
Top News
Government`s fiscal deficit at end of May stands at 12.3% of annual budget target for 2022-23
More News
Daily Market Commentary : Nifty after making a new high above the 22,500 zone Says Mr. Siddh...
