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Below the Market Analysis 02 November 2023 by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd

Market witnessed a rebound after two days of slide and gained over half a percent.  Upbeat global cues triggered a gap-up start in Nifty, followed by a range bound move till the end.  Most sectors contributed to the move wherein realty, metal and energy were among the top performers.  Besides, the rebound in the broader indices further added to the positivity.

Participants are taking comfort from the rebound in the global indices, especially the US however it is too early to say that we are out of the woods citing multiple hurdles between the 19200-19400 zone in Nifty.  We thus reiterate our view to follow stock-specific approach and focus more on overnight risk management. 

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