Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices witnessed lackluster activity. Nifty ends 31 points higher while the Sensex was down by 12 points. Among Sectors, Metal and Oil and Gas indices outperformed, both the indices rallied over 1.5 percent whereas intraday profit booking were seen in selective Auto stocks.
Technically, after a gap up opening market witnessed narrow range activity. We are of the view that, the larger market texture is still in to the positive side but fresh uptrend rally possible only after dismissal of 24650/80725 Above which market could move up till 24725-24775/81000-81200. On the flip side below 24520/80330 the intraday selling pressure is likely to accelerate. Below the same, it could retest the level of 24450-24400/80000-79800.
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