Market Strategy and Stock Picks from Ajit Mishra of Religare Broking

Business Standard Markets · stocks

Indian markets experienced volatility on Wednesday, ultimately closing lower and extending a corrective trend. Despite an initial recovery attempt, selling pressure resumed, pushing the Nifty below 22,620. Global macro concerns, elevated crude oil prices, and persistent foreign institutional investor (FII) selling contributed to market fragility. Technically, the Nifty faces resistance around 22,750-22,800, with support at 22,600. Ajit Mishra of Religare Broking recommends buying Kotak Mahindra Bank and Engineers India Limited, citing relative strength and strong bullish structures respectively.