<div id="readability-page-1"><div id="parent_top_div"><h3>  Market view by Ajit Mishra, Religare Broking</h3> <p>Markets plunged sharply on Wednesday, losing over one and a half percent and resuming their corrective phase amid weak global cues and heightened geopolitical tensions. The Nifty opened on a subdued note and remained under persistent selling pressure throughout the session. Although a brief recovery attempt was seen in the latter half, it failed to sustain, and the index eventually settled near the day’s low at the 23,866.85 mark, down by around 1.6 per cent.</p> <p>  Sectoral participation remained largely negative, reflecting broad-based weakness across the market. Auto, banking, financials and realty were among the key drags, weighing heavily on the benchmark indices. However, selective buying interest was seen in pharma, energy and metal counters, which offered limited support. On the broader front, pressure was visible across the board, particularly in the midcap segment, which declined by nearly 1.5 per cent.</p> <p>  Investor sentiment remained fragile as escalating geopolitical tensions in the Middle East continued to unsettle global markets and push volatility higher. Concerns over potential disruptions to crude oil supply, rising inflationary pressures and the possible impact on economic growth kept participants cautious. Additionally, continued foreign institutional investor selling and weakness in the rupee further dampened risk appetite. The decline reaffirms the prevailing negative sentiment despite the recent cool-off in crude oil prices, which are still hovering around the $90 mark. </p> <p>  On the index front, Nifty is once again inching towards its previous swing low around 23,700, and a break below this level could trigger the next leg of decline towards 23,500, followed by the 23,200 zone. On the upside, any recovery towards the 24,100–24,300 band is likely to face strong resistance. Given the uncertain global backdrop, participants are advised to maintain a cautious stance, keep position sizes light and focus on strict risk management while adopting a selective trading approach.</p> <h3>  Stocks Recommendations</h3> <h3>  Oil India | LTP: ₹482.7| Recommendation: Buy | Target: ₹520| Stop-loss: ₹458</h3> <p>  We are seeing noticeable strength in the upstream oil companies’ after the recent surge in crude oil prices. Within this space, Oil India is exhibiting a positive chart structure. The stock has been holding firm after breaking out of a triangular pattern that developed toward the end of a prior downtrend, indicating a potential shift in trend from bearish to bullish. Additionally, the stock continues to sustain above its key weekly moving average, further strengthening the bullish outlook. Considering the supportive sector dynamics and the favourable technical setup, OIL can be considered for buying.</p> <h3>  Dr Reddy's Laboratories | LTP: ₹1,325.5 | Recommendation: Buy | Target: ₹ 1,420| Stop-loss: ₹1,270</h3> <p>  The pharma sector has emerged as one of the strongest performers during the current market correction, and Dr. Reddy’s Laboratories is moving in line with this strength. The stock is displaying a constructive setup on the charts, forming a buying pivot while sustaining above its key moving average after breaking out of a declining channel. Given the continued resilience in the pharma space and the positive technical structure, it can be considered for buying within the mentioned range.</p> <h3>  IndusInd Bank | LTP: ₹875.5| Recommendation: Sell Futures | Target: ₹815| Stop-loss: ₹910</h3> <p>After a phase of outperformance, the banking index is now showing signs of weakness. In line with this trend, Indusind Bank has witnessed a fresh breakdown from its consolidation range and has also slipped below the support zone of its long-term moving average. The recent recovery attempt appears to be losing momentum, suggesting that the stock may resume its prevailing downtrend. Considering the emerging weakness across banking counters, a short positions can be considered.<small> </small> <em><strong>(Disclaimer: This article is by Ajit Mishra, SVP – research, Religare Broking. Views expressed are his own.)</strong></em></p></div></div>

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<p>Analyst Ajit Mishra from Religare Broking provides a market view following a sharp decline in the Nifty index, which fell by 1.6% to 23,866.85 amid global tensions and selling pressure. He recommends buying Oil India and Dr. Reddy's Laboratories, citing positive trends in the oil and pharma sectors, with targets of ₹520 and ₹1,420 respectively. Conversely, he advises selling IndusInd Bank due to emerging weakness in the banking sector. Investors are urged to maintain caution and manage risks amid the volatile market conditions.</p>

Analyst suggests Nifty strategy; bets on Oil India, Dr Reddy's Labs