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

                                Nifty withheld 19400 amidst volatile weekly expiry

Tracking the positive global bourses, the Indian indices witnessed a buoyant start, wherein the benchmark index soared to uncharted territory and kept momentum during the initial half of the day. However, bulls failed to sustain the higher grounds and lost their grip during the second half of the session, which pared down a significant portion of gains. Eventually, post the volatile day of trade, the Nifty50 index concluded the session around 19400 levels, procuring 0.15 percent from the last closure.

The indices witnessed a volatile weekly expiry session, wherein a tug of war could be seen in the benchmark index. However, the technical structure remains unchanged post the whipsaws move. On the technical front, the indicators still showcase overbought sentiments, but the bulls are resilient in letting loose their grip. As far as levels are concerned, an authoritative closure above 19500 could only trigger the next leg of rally towards 19600-19650. On the flip side, a series of support zone could be seen from 19350-19300 on an immediate basis, while the sacrosanct support lies at the bullish gap of 19200-19235.

Strong traction was seen in the IT space post some heavyweights’ quarterly outcomes, while PSU Banks led a spoilsport in the session. As we advance, the market is expected to remain volatile amid the commencement of the quarterly earning season. Thus, traders are advised to keep following the stock-centric approach to obtain better trading opportunities.

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