Bulls knocking doors of 15000 mark again : Angel Broking

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

"Nifty started the week on a gap up, but it then consolidated within a range throughout the day with a positive bias. Amongst a good stock specific action, Nifty managed to end with gains of eight-tenths of a percent around 14950.

The positive global markets provided an impetus for a head start for the week. The index was approaching the psychological mark of 15000 once again and although we did not surpass it today, the overall activity in the broader markets was much positive. One or the other sector kept buzzing throughout the day which provided good trading opportunities for traders. The banking index has been undergoing some consolidation and until we see a good buying interest in this space, the index could see such slower moves. A move above 15000 could lead to some momentum towards 15150 immediately. On the flipside, the support seems to be shifting higher which is now seen around 14850-14800.

The Pharma and the PSU space continued to witness good buying interest while the Nifty midcap index too is positively placed. Traders are advised to continue to focus on such individual pockets which could provide good short term returns."

Source : Equity Bulls

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