IGI Logo

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

Today, the benchmark indices continued their positive momentum. The Nifty ends 144 points higher, while the Sensex was up by 462 points. Among sectors,  almost all the major sectoral indices traded in positive territory, but the Defense  and IT indices outperformed, gaining over 1 percent. Technically, after an early morning intraday rally, the market witnessed range-bound activity throughout the day. A bullish candle on daily charts and an uptrend continuation formation on intraday charts indicate a further uptrend from the current levels.

For traders, 24,870/81900 would act as a key support zone. Above this level, bullish sentiment is likely to continue. On the higher side, 25,150–25,250/82500-82800 would act as key resistance areas for traders. However, below 24,870/81900, the market is likely to retest the levels of 24,740–24,700/81600-81500

Above views are of the author and not of the website kindly read disclaimer