Market Analysis by Mr. Ajit Mishra - SVP, Research, Religare Broking Ltd.
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Below the Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd.
Markets continued their corrective trend for another session, losing over half a percent. After an initial drop, Nifty fluctuated within a range and ultimately closed near the day's low at 22,704.70 level. Most sectors were under pressure, with banking, financial, and IT sectors being the top losers. Despite the overall decline, broader indices performed relatively better, finishing nearly flat to slightly negative.
The recent decline signals caution among investors, and we anticipate Nifty finding support around the 22,550 level, which corresponds to the 20-day EMA. With the May derivatives contracts expiry approaching, volatility is expected to remain high. We recommend limiting aggressive long positions and adopting a hedged approach.
Above views are of the author and not of the website kindly read disclaimer
