Market Wrap Up : Nifty at 3-weeks high, finally reclaims 17900 Says Mr. Sameet Chavan, Angel One Ltd
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/02/8d6dd0c3384e34f575d405840470d851.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
Despite SGX's muted start, our markets opened with a decent bump convincingly above the 17800 mark. Barring an initial small pullback, the index maintained its positive posture throughout the remaining part of the session. With a steady up move, the Nifty finally managed to close above 17900, which is highest in last three weeks. In this course of action, the bulls managed to add nearly a percent to their kitty.
Unlike recent sessions, today we witnessed participation from most of the heavyweight pockets. Although, banking started off quietly, we witnessed some catch up moves from banking conglomerates throughout the latter half of the day. We are still yet to thrash key psychological levels of 18000; but the way the market closed today; it is certainly showing early signs of coming out of this long congestion phase. Hopefully, the global peers will provide the much-needed impetus to confirm the breakout in the coming session itself. As far as levels are concerned, 18000–18040 would be closely watched and the moment we surpass it, traders should gear up for a strong rally in coming days. On the flipside, 17800 – 17700 should now be treated as a sacrosanct zone for our market. Traders are advised to stay upbeat and create aggressive positions once the above-mentioned bullish scenario unfolds.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Indiateam57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/munishakhatwal57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/tatapower57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MP Ahammed.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Fintech Pre-budget expectation.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/uttarpradesh57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Cyberpeace.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)