Index at new highs, stocks witnesses buying interest: Angel Broking

Market Wrap-up by Mr. Ruchit Jain (Equity Technical Analyst, Angel Broking):

"The index started the session with a gap up opening around 12130. The index traded within the range for most part of the session wherein 12100 acted as a support. The last hour of the expiry session again witnessed a positive momentum and the index ended the session tad above 12150, with gains of about 50 points.

The indices continue to register new highs with the broader markets witnessing good buying interest. Today, although the index traded within a range, there was good stock specific momentum seen throughout the day. As expected, our markets are now undergoing a phase of a trended upmove as the indices continue to hit new milestones whereas stocks are witnessing upmoves with good volumes. In this calendar month, the index first consolidated within a range and is now all set to end the month on a high note. Traders are advised to continue to trade with a positive bias as we continue with our positive view for the targets of 12180-12200 first and then towards 12290.The immediate supports for the index are now placed around 12070 and 12000."

Source : Equity Bulls

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