Markets took a breather after yesterday’s fall and gained nearly half a percent. After the initial downtick, Nifty recovered gradually as the day progressed and finally settled around the day’s high at 21,255.05 levels. Most sectors participated in the rebound wherein energy, metal and banking were among the top performers. The broader indices too witnessed respite and gained nearly 2% each.
We expect consolidation in the index now however there will be no shortage of trading opportunities on the stock-specific front. Participants should align their trades accordingly and prefer sectors, which are showing relatively higher strength. Apart from the domestic factors, the performance of the US markets would play a critical role in the next directional move so keep a close watch.
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