Keep focusing on individual stocks: Angel Broking

Daily Market Wrap Up by Mr. Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking):

"Our markets had a cheerful start for the week as we saw a gap up opening with a small margin on the back of favorable global cues. The index extended these gains in the first half and cemented its position above the 10000 mark for the remaining pat of the day.

Since last few days, the overall trading range shrunk to merely 40 - 50 points and it was a clear indication that soon market will make a conscious effort to come out of the congestion zone. But, we were not so sure which way it will take place. Today, it's been confirmed in the upward direction and hence, we may see some more steam towards 10060 - 10080, which is not so far from today's close. We continue to mention that one should avoid trading in index as the trading opportunities in individual stocks are far clearer and better. For the coming session, 9968 - 9913 should be considered as a key support zone."

Source : Equity Bulls

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