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After a consecutive third day, the index opened on a gap-up note and made an intraday high at 15293.85 levels. However, the index wiped out early gains and made an intraday low at 15163.40 levels but managed to close on a green note at 15,208.45 levels with a gain of 10.75 points. While bank nifty closed in red note at 34662 levels.

On sectoral Front, Nifty Media (3.17%) was the top gainer while Nifty Financial Service (-0.71%) and Nifty Bank (-0.81%) showed some profit booking.

Stocks like Brittania, Asian Paint, Eichermot, Titan, JSW Steel, were the top gainers, whereas HDFC Bank, HDFC Life, Axis Bank, Reliance were the laggards for the day.

Sumeet Bagadia, Executive Director, Choice Broking, said technically, the nifty index has managed to close above 21 EHMA and sustained above prior resistance of 15,140 levels from the last two trading sessions. This shows the positive trend will continue now and will act as a support for the market. Moreover, the Nifty sustained above the downward slopping trend line that suggests a bullish strength in the counter.

Furthermore, the Index has formed a bullish Marabozu on the hourly chart as well as the Stochastic oscillator is also showing a positive crossover which points to a bull run for upcoming sessions. At present, the Nifty seems to have an immediate resistance at 15,340 levels and major resistance is intact at 15,450 levels while support is placed at around 15,000 levels, Bagadia added.

Mohit Nigam, Head, PMS - Hem Securities said the Nifty touched the lower support of 15,150 during the day and also the above resistance of 15,300. while the mid cap indices and the small cap indices which were gaining strongly despite muted Nifty50 performance has seen some resistances in today's trade. The NIFTY50 seems to be in the range of 15,100 to 15,300 with an absence of a fresh trigger to move in either direction. However it's still a buy on dip market, he added.

In a volatile trading session, markets failed to hold on to its early gains and ended on a mixed note. This means that the expiry pressure is higher in the market. Technology and FMCG stocks were the strengths of the market today, else the market would have closed in negative territory, said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

The Nifty has made a higher bottom at 15,163 and rebounded sharply to close above the previous day's closing. It looks like the market is preparing to cross the all-time highest level, which is at 15,431. The basic trend of the market is bullish and our strategy should be to buy on dips or at major supports. The 15,125 and 15,050 levels should be major supports. On the higher side, 15330 and 15430 levels would be major obstacles. On Wednesday, the focus should be on auto, pharmaceuticals and financials, Chouhan added.

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