The markets continued their sideways movement in the latest session, experiencing a nearly 0.5% decline. Although the Nifty initially traded flat, profit-taking in heavyweight stocks drove the index lower as the day unfolded, settling near the day's low at 20,906. levels. Most sectors followed this trend, with realty, energy, and auto emerging as the top losers. The broader indices also exhibited subdued trading, closing flat to marginally lower.Currently, there is a time-wise correction in the index, and we anticipate the Nifty to maintain the 20600-20,800 zone if profit-taking persists. The focus should be on identifying sectors or themes displaying positive trends and gradually accumulating stocks in those areas. Besides banking and IT majors, there is notable momentum in themes such as fertilizers, cement, and railways, among others. It is advisable to align trades accordingly.
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