Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap by Shrikant Chouhan, Head Equity Research, Kotak Securities
The benchmark indices continued positive momentum, the nifty ends 85 points higher while the Sensex was up by 146 points. Among Sectors, PSU Banks index outperformed rallied over 3 percent whereas selective IT stocks witnessed intraday profit booking at higher levels. Technically, after a gap up opening market held the positive momentum throughout the day. Breakout continuation formation on intraday charts indicating further uptrend from the current levels. For the trend following traders now, 24500/80500 would be the key support level. Above the same, the market could continue uptrend momentum till 24650-24700/81000-81200. On the flip side, below 24500/80500 uptrend would be vulnerable.
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