10250 a key support, focus on stock centric moves: Angel Broking

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

"This has been the day of consolidation for our markets as we saw index gyrating in a small range of nearly 50 points throughout the session. Eventually, the bulls managed to hold their dominance by concluding the inaugural day of the week with nominal gains.

We were seeing 10250 as a key support and the Nifty recovered today from the kissing distance of this mentioned level. Going ahead, 10344 - 10368 remains to be an immediate hurdle; whereas any move below 10250 would resume downward move to test the sub-10200 levels. Having said that the stock specific moves in midcap counters was quite encouraging during the session and hence, one needs to concentrate more on such stocks that are likely to provide better trading opportunities."

Source : Equity Bulls

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