Union Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan today said that the Union Cabinet chaired by Hon'ble Prime Minister has approved the expansion of interest subvention scheme to provide financial assistance for enhancement of eth

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

"Market continues with its gap up opening mode and today morning too, the global set up was ideal to start the day marginally below 14000. Similar to the previous session, the market cooled off a bit in the first half and had a short stint of profit booking to test intraday supports. As usual, the buying resumed in the latter half to add another three tenths of a percent to the bulls' kitty despite banking sulking a bit.

We can see a clear pattern since few days where the market takes a head start at the opening and then offers one opportunity during the day to exit bearish bets. If we look at today's low, Nifty respected its yesterday's low of 13850, which should now be seen as key support going ahead. Today, we were at a kissing distance away from the magical figure of 14000 but it seems that Bulls are willing to achieve this milestone on the last day of the calendar year to make it a historical and memorable farewell for 2020. As far as trading activity is concerned, the overall intraday range has shrunk a bit and it is quite evident after seeing such a massive rally. Since we are in an uncharted territory, it would be very difficult to give levels in the upward direction, but still looking at few reciprocal retracements, 14050 - 14200 are the levels to watch out for.

Today, the 'Cement' stocks were on a roll and some of the marquee names within this space kept buzzing throughout the session. Going ahead, one should focus strictly on individual stocks and should follow strict money management. There is a possibility that we may find trading opportunities in both directions".

Source : Equity Bulls

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