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Below are Quote on Market Wrap Up - Global sell-off drags market lower on the expiry day by Mr. Ruchit Jain, Chief Analyst-Technical and Derivatives, Angel Broking Ltd 

Nifty started the weekly expiry day marginally negative on back of soft global cues. Post some consolidation in the first hour, the indices witnessed selling pressure and it crept lower throughout the day to end with a loss of about a percent.

The way markets ended on Wednesday, it seemed that we were on a path for a resumption of the uptrend and mark new records on the weekly expiry session. However, the global sell-off caught the traders (including us) on the wrong foot and the index breached the intraday supports which resulted in more selling pressure. With today’s correction, Nifty is back within the range that it has been consolidating since last one month. Hence, the trend still continues to be sideways with support around 15635 and resistance at 15900-15920. This indicates that traders will still have to wait for a breakout on either side to predict the next directional move. Until that happens, one should continue to trade with a stock specific approach and avoid aggressive overnight positions.

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