Market consolidates with positive bias at 200-SMA: Angel Broking

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

"The index opened on a positive note and traded in a narrow range on the weekly expiry session to end tad above 10800 with gains of about a percent.

Nifty traded within a range in today's session and thus there is no major change on the chart structure. However, inspite of the consolidation in the index,stock specific momentum from the broader market continued to provide good trading opportunites. For the near term, support for Nifty is placed around 10670 whereas resistances are seen around 10900 and 11000. A move beyond the above mentioned boundaries would then lead to the next leg of trended move and till then, traders are advised to continue to trade with a stock specific approach."

Source : Equity Bulls

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