Consolidation phase in market, focus on individual stocks: Angel Broking

Stock calls and Outlook on Nifty by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking
 
Nifty Outlook
 
The market continued its splendid run and now is showing some signs of exhaustion at higher levels. During the week, the Nifty saw some profit booking after precisely entering the strong resistance zone of 10,482 – 10,500 which was the 161% (Golden Ratio) reciprocal retracement level of the recent down move. This corrective move was very much on expected lines and in the process, corrected to end the week tad above 10,300-mark.
 
An impulsive upmove in the index is