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Below is quote on Market Wrap Up - Relief across the globe leads to recovery in our markets by Mr. Ruchit Jain, Chief Analyst-Technical and Derivatives, Angel Broking Ltd 

Our markets had corrected ahead of the mid-week holiday owing to negative global cues. However, the global markets recovered from their lows which led to a positive sentiment, and hence we started today’s session with a gap up. The benchmark index traded with a positive bias throughout the day and ended the weekly expiry session well above 15800, with gains of almost 200 points.

This week, our market moves have been led by the cues from the global peers and hence, relief in the global markets led to a recovery in our markets too. Nifty reclaimed the 15800 level at close and the midcap space witnessed good buying interest throughout the day. The broader charts depicts that we are still in a consolidation phase and have witnessed upmove from the lower end of the trading range. Hence, it is prudent to focus on a stock specific approach as there are better opportunities seen there. Global cues could continue to drive our markets direction in the near term and hence, traders should keep a close tab on the same as we head towards the weekly close. The immediate supports for Nifty are placed around 15760 and 15680 while resistance is seen in the range of 15880-15960.

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