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

Our market has started the week on a subdued note amid the weakness in Asian bourses and followed a sluggish move throughout the day. The benchmark index Nifty50 witnessed a lackluster day of trade where it spent most of the time in a slender range with no clear direction. However, by the fag end, some traction was seen in the index, resulting in a positive closure for Nifty with a mere gain of 0.37 percent at the 15350 level.

Technically, the index has snapped the six days of the selling spree with mere but positive closure, and any follow-up buying could demonstrate an encouraging sign for the bulls for the coming sessions. On technical parameters, the 15180-15200 odd zone has played the sheet anchor role for the past two consecutive sessions, and sustenance above the same could be a positive sign for the market participants. On the contrary, 15500 is to be looked at as an immediate hurdle, followed by the 15650-15700 zone that holds the sturdy wall for the bulls of the D-Street.

Looking at the tentativeness among the participants, the index is likely to stay within the mentioned range until any decisive breakthrough on either of the sides is not seen. Hence, we advocate avoiding any aggressive bets and to continue with a stock-specific approach, focusing on potential bounce-back candidates.

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