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

Today, the benchmark index Nifty gained 42 points, while the Sensex was up by 187 points. Among sectors, the Realty index rallied over 2 percent, while selective IT stocks saw intraday profit-taking. Technically, after an early morning intraday rally, the market witnessed some selling pressure at higher levels. On daily charts, it has formed a small bearish candle, indicating indecisiveness between the bulls and the bears.

We believe that the current market texture is bullish but overbought, hence range-bound activity is likely to continue in the near future. For day traders, 24100/79400 and 24000/79000 will act as key support zones, while 24250-24350/79800-80000 could serve as key resistance areas for the bulls. However, if the index falls below 24000/79000, sentiment could change. Traders may prefer to exit their long positions below this Level

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