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Below the Quote on Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices registered a fresh all time high of 23754.15/78164.71. The Nifty ends 183 points higher while the Sensex was up by 712 points.

Among Sectors, Banking and Financial indices outperformed. Both the indices rallied over 1 percent whereas Realty index shed nearly 2 percent. Technically, after a strong opening the market held the positive momentum throughout the day. A bullish candle on daily charts and higher bottom formation on intraday charts indicating continuation of uptrend wave in the near future. For the trend following traders now, 23600/77500 would act as a trend decider level. As long as the index is trading above the same, positive sentiment is likely to continue. On the higher side, 23835- 23900/78500-78700 would be the immediate resistance zones for the bulls. However, below 23600/77500 uptrend would be vulnerable. Below the same, trades may prefer to exit out from the trading long positions.

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