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Below Is Quote On Daily Market Wrap Up By Angel One Ltd.

We had a sluggish start of the session, taking slightly nervous global cues into the consideration. This was followed by a gradual recovery in the initial hour itself. However, the momentum was clearly lacking during the remaining part of the session. Nifty kept vacillating in merely 90 points range, which is certainly very slender for the index trading at 18000 levels. Eventually, we ended the session almost around previous day’s close.

This was one of the thinly traded sessions for our key indices in recent times. The action was lacking in heavyweight counters; however, few midcaps did well for themselves as the continued their recovery path after recent hammering. Now the only positive takeaway from today’s session was, Nifty convincingly holding the key support zone of 18100 – 18000, which we believe is likely to remain defended for the remaining two sessions. On the flipside, there is no indication of surpassing 18250 – 18300 either and hence, unless there is any major movement globally, we expect the Nifty to remain within a range of 18000 – 18300 before unfolding the next move. Traders are advised to continue with a stock specific action and it’s better to avoid aggressive bets in indices.

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