Market Wrap Up : Modest recovery led Nifty to settle near 18400 Says Mr. Osho Krishan, Angel One Ltd
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/12/79de0b0b28ff54d7237a879455945f29.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
Daily Market Wrap Up By Mr. Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One Ltd.
The Indian equity markets had a timid start, taking cues from the bleak global bourses. The benchmark index Nifty50 had a gap-down opening and slipped below yesterday’s low at the very start of the session and stayed in a slender range at the lower zone for most of the day. However, by the penultimate hour, the bulls made a modest recovery and pared down the initial loss. Amidst the volatile session, Nifty concluded the day with a mere cut of 0.19 percent and settled a tad below the 18400 level.
We allude to our previous commentary on buying near the support and staying light near the resistance, which is prominent in the current situation. On the technical front, 18450-18500 still holds significant resistance and until we decisively breach the same, the view remains unchanged. As far as levels are concerned, 18200 is likely to cushion any intraday blip, while the sacrosanct support lies at 18100-18000. On the higher end, 18450-18500 is the intermediate resistance breaching that could regain some relief. However, the sturdy wall is seen at 18600, reclaiming which the cheer would return to the market.
Going forward, the index is likely to trade within the mentioned range in the comparable period, and any decisive breach on either side could only dictate the near-term trend. From here on, selective stocks could outperform the market; hence, we advocate the participants to remain selective and focus on the stock-specific approach for better trading opportunities.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/jul04v89_Wex0B3E.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/religare broking.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Zomato07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Piyush Goyal07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul04v38_zDiylqc.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Prashant Thakur ANAROCK Group.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v152_BhgJWbe.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
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)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/11/b049b318b72fb6322adfc0db2a8c9ef3.jpg)
Quote on today`s Nifty 03rd November 2021 By Rohit Singre, LKP Securities
![Bank Nifty Write Up : The week began cautiously for Bank Nifty, with marginal gains in the initial two days Says Rajesh Bhosale, Angel One Ltd](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/f82fd4b54e12a40eaa694449da02b6b5.jpg)
![Market unable to hold early gains, selling drags Nifty towards 14500 By Sameet Chavan, Angel Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/03/cde21d210e1dcf4dd3fef0d4726124b1.jpg)
![Market Quote 16 August 2021 by Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/08/4d8291b7899dbfc0b5e2c0c13a3b4580.jpg)