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

"Markets traded dull on the monthly expiry day, closing nearly unchanged for the second straight session. After an initial uptick, Nifty quickly flattened, trading within a narrow range before settling at 22,545.05. Sectorally, a mixed trend persisted, with metals, banking, and financials performing well, while realty and auto remained under pressure. The broader indices underperformed, declining between 1% and 1.7%, further dampening sentiment. 

The past two sessions reflect indecision, likely due to oversold conditions. However, rotational selling across key sectors is not only limiting the rebound but also gradually dragging the index lower. As the new derivatives series begins, we maintain our view of using rebounds to initiate shorts in the index until a decisive trend reversal emerges. Meanwhile, stock-specific opportunities continue on both sides, so trades should be aligned accordingly."

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