Continue with stock centric approach: Angel Broking

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

"Merry days continue for our markets as we saw fresh record highs in the initial part of 'Diwali Week'. The opening was clearly influenced by the cheerful global bourses; but it was then entirely driven by the strong ongoing optimism. In the course of action, the Nifty has managed to close well above yet another milestone of 10200.

There has been no stopping for our markets; but being the festival week, the index is likely to consolidate now. In the upwards direction, 10260 - 10300 are seen as immediate levels; whereas, on the flipside, the base has shifted towards 10180 - 10120 for days to come. As per our sense, one needs to keep following individual stocks that are offering better opportunities and are likely to fetch higher returns as compared to the index. We would like to add one more thing; traders should look to book timely profits and should trade with an appropriate exit strategy."

Source : Equity Bulls

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