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

The Indian equity market has started the session on a mild note taking cues from mixed global bourses. The benchmark index refrained from continuing its northward journey and took a blip in the second half of the session, which pared down the initial gains and had a muted closing. Amidst the hustle, the Nifty50 index concluded the day on a subdued note at 18266 with a mere gain of 0.01 percent.

Technically, there have been no significant changes from the last trading session, as we allude to the previous commentary of Nifty’s placement at the sturdy hurdle of 18250-18300, which needs to be surpassed for the continuation of the uptrend. As far as levels are concerned, a decisive closure beyond the mentioned range could only trigger fresh longs in the system. Whereas on the downside, 18200-18150 is likely to provide a cushion from any intraday blip.

Meanwhile, we remain sanguine on the market with a bullish undertone. Also, one needs to keep a close tab on the mentioned levels and utilize declines to add long in the system. Simultaneously, individual pockets are comparatively performing well, and traders need to focus on the stock-specific approach to gauge trading opportunities.

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