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Below the Quote on Daily Market Outlook :  Traders should maintain a “sell on rise” strategy, as most sectors and broader indices remain under pressure By Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd

Markets resumed their downtrend after a two-day pause, shedding nearly 1%. Following a flat opening, Nifty gradually declined throughout the session, although a slight bounce in the last hour helped trim some losses. Ultimately, it closed at 24,180, down by 0.90%. Key sectors such as metals, autos, and energy were among the hardest hit, with broader indices also declining by almost 2% each.

The index’s movement reflects that bears are still in control, and a decisive break below 24,000 could worsen the outlook. In the event of a rebound, 24,500 will now serve as a strong resistance level. Traders should maintain a “sell on rise” strategy, as most sectors and broader indices remain under pressure. Focus should remain on earnings and Foreign Institutional Investor (FII) flows for further cues.

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