Market Wrap Up : Bulls continue with their winning spree Says Mr. Sameet Chavan, Angel One
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/05/8f6c348690e3632f6871f4921d35944d.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below is on Market Wrap Up By Mr. Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd
Bulls continue with their winning spree
After an extended weekend, we started the session on a pleasant note owing to a smart rally in US markets on Friday. In the initial trades, we extended the move to challenge the 18200 mark. However, due to lack of conviction at higher levels, Nifty slipped into a consolidation first and a tiny bit of profit booking was witnessed in the latter half to eventually conclude the session with yet another half a percent gains.
The way our markets behaved in last couple of sessions of the previous week, it has certainly lifted our markets in a much safer terrain. As we alluded to in the previous commentary, the Nifty is now about to enter a crucial cluster of 18200 – 18500. However, traders should avoid being complacent here, because surpassing 18200 – 18250 would be a daunting task for the bulls. Some profit booking or a time consolidation cannot be ruled out before unfolding the next leg of the rally. Overall, the undertone remains bullish, and the immediate base now shifts higher towards 18000 – 17900. Traders are advised to stick to stock centric approach and should avoid aggressive bets in indices at higher levels.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Clean Science and Technology.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Somany logo.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/startup.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Srinivas Narayanan.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Mongolia.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/nitingadkari37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v68_wcHr0zT.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IT Sector03.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bharti Airtel Ltd.jpg)
Top News
![](https://portfolio.investmentguruindia.com/uploads/news/ITstock.jpg)
IT stocks lead markets lower
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/6b3c1a932eecc597e7ebc63801f5c2dc.jpg)
Quote on Silver : Silver price falls in recent weeks Says Prathamesh Mallya, Angel One
![Bank Nifty Write Up : In this scenario, immediate support is found at levels around 45000 to 44900 Says Mr. Rajesh Bhosale, Angel One](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/052de8b6a271b140ab7a7b65c5f180c9.jpg)
![Market Wrap-Up : Bulls on a roll; Nifty set for the 20K milestone Says Mr. Osho Krishan, Angel One Ltd.](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c3b473fde94c5c2a730f44acc4341955.jpg)
![Commodity Quote on Base Metals (Copper) by Mr. Saish Sandeep Sawant Dessai, Angel One Ltd](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/6208478cde315d3c636b81253e95bd4b.jpg)