The SENSEX opened the session on a positive note but the index remained flat throughout the day’s trade. The 18200—18350 levels were the narrow trading range for the SENSEX during yesterday’s session. The SENSEX finally closed the session at the 18,232.06 levels with a nominal loss of 34 points.
The index closed the session on a flat note and so did the overall market breadth as the advance decline ratio closed equally in favour of the advances and the declines in the ratio of 1:1
The Healthcare index with a smart gain of 2.50% was the biggest gainer amongst the sectoral indices. The Consumer durables and Realty indices also closed the session with smart gains of over 2%. The Auto index closed with a loss of 1.50% for the 2
nd straight session of trade.
The index traded the session on an extremely sedate and lethargic note, on the back of below average volumes. On the upside, the index has stiff resistance between the 18300—18550 levels. The medium term and short term moving averages placed between these levels will act as stiff resistance for the index. Sustenance above the 18000 levels will see the index remain in a broad trading range of 18000—18550 levels for the upcoming sessions.
The recent lows witnessed around the 17800 levels will be the major support level for the index.
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Today’s supports for the SENSEX are placed at the 18000 and 18100 levels whereas resistances are placed at the 18350 and 18450 levels
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