Daily Market Wrap Up by Mr. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking):
"Despite mixed global cues, our markets opened with mildly positive bias. During the initial trade, we did witness minor profit booking, which was probably a weak attempt to restrict the benchmark below 11300. As a result, the early morning dip eventually got bought into and index went on to reclaim the 11300 mark on a closing basis.
Clearly market has come into its groove now and its enjoying recent spectacular Bull run. There has been no stopping for the market as we can see new highs getting clocked everyday. This momentum is likely to stay for a while and hence, it's advisable to keep riding this tide without any hesitation. As far as supports are concerned, 11260 followed by 11200 would be seen as key levels whereas on the upside, if we have to keep any figures in mind then we expect this momentum to extend towards 11400 - 11500 first.
There are lot of individual pockets that are providing decent trade set ups and hence, one should keep focusing on such potential candidates."