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Below is the Daily Market Wrap Up By Mr. Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One Ltd

                                 Nifty rebounded from the lows, settling around 19750

Our market started the day on a mild note, wherein the bulls firmly capitalized on the opportunity to push the market upwards. The benchmark index Nifty50 witnessed a modest rebound from the pivotal support and settled in green amidst some buying in heavyweights. Eventually, with the market breadth on the positive side, Nifty concluded the session on a positive note around 19750 with gains of over half a percent.

The sustainable movement in the key indices throughout the day construes a positive development. The bulls once again showed resilience to portray a buoyant undertone. As far as levels are concerned, 19600 is likely to act as a cushion, while the pivotal zone of 19500, coinciding with 20 DEMA, is expected to act as sacrosanct support. On the higher end, a cluster of resistances can be seen around 19800 - 20000 in the comparable period.

The broad-based buying has levitated the sentiments of participants, but one should not become complacent and focus on a pragmatic approach to buy the decline and book on the rise. Also, one needs to stay abreast with the mentioned levels and follow the stock-centric strategy for better trading opportunities.

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