Quote on Market Morning Inputs by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs by Shrikant Chouhan, Head Equity Research, Kotak Securities
Benchmark indices experienced a strong rally on Tuesday, with the Nifty closing 374 points higher and the Sensex rising by 1,089 points. All major sectoral indices traded in positive territory, with the media index seeing the largest gain, climbing over 5 percent.
The positive momentum persisted throughout the day following a robust market open. The market has formed an indecisive pattern after reaching a key resistance level of 22700. Today, initially, we could observe the market trading within a broader range of 22200 to 22800. However, if the market closes below or above this trading range, it may revisit 21750 on the downside or 23250 on the upside. Traders should closely monitor these levels.
Given that the current market pattern is highly volatile and uncertain, employing a level-based trading strategy would be ideal for day traders
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