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

Today was quite eventful as the Nifty briefly reclaimed its record high before settling flat at the 22,604.85 level. Although the tone was positive for most of the session, a sharp downturn in the final hours erased all the gains. Across sectors, we saw a mixed performance, with auto and realty sectors showing strong gains while IT, metal, and pharma ended in the red. The broader indices traded quietly and ended nearly unchanged.

We view the intermediate profit-taking in the index as a healthy correction and anticipate Nifty to maintain support around the 22,300-22,400 zone. Most key sectors, except IT, are participating in the movement, so participants should adjust their positions accordingly.

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