IGI Logo

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

"Markets traded in a narrow range and ended almost flat, pausing after two consecutive sessions of gains. Nifty opened on a flat note and attempted to inch higher in early trade, but a mixed trend among heavyweights limited the upside. As a result, it closed unchanged at 22,552.5.

Sectoral movement kept traders engaged, with metals finishing in the green, while realty and IT were among the laggards. A similar trend played out in the broader market, as small-caps edged higher while mid-caps closed in the red.

Nifty is now approaching its immediate resistance at 22,700 and will require fresh catalysts to break past this level. A potential trigger could be renewed buying interest in banking heavyweights, which have largely stayed on the sidelines during the recent rebound. However, global uncertainties may weigh on sentiment and disrupt this recovery attempt. Given the mixed signals, we recommend maintaining a positive yet cautious stance, with a focus on prudent position sizing."

Above views are of the author and not of the website kindly read disclaimer