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Below is quote on Market Wrap Up - Nifty hits new milestone of 18000 by Mr. Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel One Ltd

Nifty started the day on a flat note and marched higher with the support from the banking heavyweights. It finally tested the 18000 mark which market participants were much awaited for. However, during the later part the index gave up some of the morning gains and ended around 17950 with marginal gains of about three-tenths of a percent.

Nifty finally conquered the 18000 mark during the day which has been a remarkable journey post the Covid led fall in the last year. Although the IT space which has done remarkably well in this uptrend corrected today post the quarterly results of TCS, the banking took the charge today and led to markets to achieve the milestone. The trend still remains positive but still, one needs to be very selective in picking stocks from a short term perspective. The immediate supports for Nifty are placed around 17900, 17840 and 17770 while resistance is seen around 18130. Is is advisable to continue with a stock specific approach and trade with a watch on the above mentioned levels.

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