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The trading activity for the week started on a flat note, however, without wasting any time Nifty started climbing higher. Although there was some stagnation during the mid-session, with prices staying within a range, the broader markets remained active. Towards the end of the day, there was another round of buying, resulting in the Nifty closing above 18300 with a 0.61% gain.

Looking at the daily chart, there was significant buying momentum following Friday's late session buying, allowing prices to surpass the 18300 level that had acted as a barrier twice during the last week. The bulls have regained control, and as we mentioned in our previous commentary, the base level seems to have shifted higher to the range of 18050-18100, while the immediate target is now set on the 18450-18500 levels. Traders should maintain a positive bias and view dips as buying opportunities, with immediate support expected around the 18200 level.

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