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 "Market Wrap Up" by  Mr. Osho Krishan, Sr. Analyst - Technical & Derivative Research, Angel One Ltd.

The weakness in the global market led to a mild start in Indian equities, wherein the benchmark index started the session on a nervous note. Soon after, the bulls grabbed the opportunity and made a modest recovery in the index, post which slender range-bound moves were seen throughout the day. Amidst the lackluster session, the bulls showed their resilience and snapped the losing momentum of the past two days. The Nifty concluded the day with a gain of 0.52 percent and settled a tad above the 17600 level.

We allude to our previous commentary on the market being tentative amid uncertainty in the global bourses. However, the undertone is expected to remain upbeat till Nifty sustains above the unfilled gap of 17400-17380 odd zone. Meanwhile, some tentativeness could be sensed until the unfilled gap of 17820-17860 is not taken out. Looking at the technical setup, the market is likely to trade within the mentioned range until a decisive breakout is not seen on either side in the comparable period.

Going forward, many stock-specific adjustments are likely to continue and provide substantial trading opportunities. Hence, traders are advised to have a stock-centric approach and stay abreast with global and domestic developments on a regular basis.

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