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Below Quote On Morning Market 30 October 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 

The oversold position in the market facilitated the 190 point bounce back in the Nifty on Friday. But the conditions are not favourable for the continuation of this uptrend since the risk-off mood persists in the market. The  risk of the Middle East geopolitical crisis spreading is high and since the ground war has begun in Gaza there can be lots of uncertainty and unexpected developments.The other major factor impacting the markets -the elevated US bond yields- also will remain a short term concern since the Fed is likely to continue its hawkish stance in the light of the resilience of the US economy and inflation (3.7%) remaining above the Fed’s target. So watch out for the Fed’s message on November 1st even while it holds the rate as the market expects.Investors may remain cautious in this time of high uncertainty and risk. Nibbling at high quality large-caps will be a smart move."

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