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

Weak Asian cues led to a timid start to our domestic market, wherein the benchmark index had a gap-down opening. The Nifty50 index kept sliding downwards as the day progressed, and all the mid-session mere pullbacks got sold into by the bears. At last, the index concluded the day a tad above the 15400 level with a cut of over 1.44 percent.

On the technical aspect, the halt in buying interest post an intense day of rally certainly showcased the tentativeness among the market participants at the higher critical level. At the current juncture, the immediate support is likely to be seen around the 15300 level, wherein the placement of the index above the sacrosanct support of the 15180-15200 zone could be seen as the last resort of relief for the bulls. Meanwhile, on the contrary, the critical zone of 15650-15700 withholds the sturdy wall for the index, and till it is not claimed, it would be a challenging period for the bulls of D-street.

Hence, looking at recent developments that construe an unclear market trend, participants are advised to avoid any undue risk and stay abreast with the global developments. Also, with most counters trading near the oversold region, we advocate continuing with a stock-centric approach for better trading opportunities.

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