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Below is Quote on Daily Market Wrap Up By Mr. Rajesh Bhosale,Technical Analyst, Angel One Ltd

The market started the session without any significant catalyst, resulting in a flat opening. However, weakness in the IT sector caused Nifty to decline in the first half. Despite this, other sectors demonstrated strength, leading to a remarkable recovery in the penultimate hour. As a result, Nifty erased its morning losses to eventually end flat a tad below the 18600 level.

From a technical perspective, there haven't been significant changes. Nevertheless, the broad-based buying and impressive late-stage recovery indicate that the bulls are determined. On the daily chart, a clear range between 18450 and 18700 is visible. Currently, prices are leaning towards the higher end of this range, and considering the momentum seen towards the end of the session, it is likely that the upper range will be tested in the early hours of the coming session. The key question is whether the market has enough steam to break beyond this range. If so, we might witness a swift move towards all-time high levels in the next few sessions. In case of an immediate dip, the support levels to watch are 18530 - 18500 - 18450. Traders should monitor all the above-mentioned levels and adjust their index-based trades accordingly.

Following the recent strong market performance, sector rotation is becoming evident. This was observed yesterday as the IT sector experienced pressure while sectors like Cement, Defense, and Auto performed well. It is advisable to continue focusing on such potential themes that offer opportunities for outperforming moves.

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