Slender range for the index; but, party continues in individual stocks: Angel Broking

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

"Once again, it was a dull start as well as the entire session for our markets. Having said that the stock specific party continues similar to what we have been witnessing of late. The Nifty remained within a slender range of 37 points and eventually concluded marginally below yesterday's close.

It seems that traders are quite comfortable chasing individual stocks rather than banging their heads tracking the index. In last couple of days, the Nifty has managed respect the upward gap area of 10131 - 10115. Hence, we continue to see 10115 as an immediate support level followed by 10043. On the other hand, we may see an attempt to march towards yet another landmark of 10200. But, our interest remains in stock specific moves as trading opportunities are much superior to the index and therefore, we continue advising the same."

Source : Equity Bulls

Keywords