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Daily market updates

As the market slipped in the morning on the back of the news that the Adani group holding FPI's has their demat accounts frozen it led to what was an early selling spree.

However towards the end of the day we had the stocks recover and the headline nifty index closed almost at the breakeven level. The pattern for the day will be seen as a doji which is a classic pattern which shows the indecision on the behalf of the market participants to take any new position or commit to it with a reasonable size.

The midcaps in the morning session took a beating and then slowly recovered throughout the rest of the day, the sector still remain vulnerable to a correction and we will probably and up seeing some more correction in the sector over the coming few weeks.