The SENSEX opened the session on a bearish note on the back of extremely negative cues from its global peers.
The index spent the entire session trading in the negative territory and the selling pressure increased as the session progressed.
The index registered an intraday low of 17958.94 levels during the final hours of the day’s trade and finally closed the session at the 17985.88 levels with a loss of 146.36 points.
The overall market breadth remained negative throughout the day’s trade and the advance decline ratio closed in favour of the declines in the ratio of 2:1 All the benchmark and sectoral indices closed the session in the red.
The IT index with a cut of close to 1.70% was the biggest loser amongst the sectoral indices.
The capital goods and metal indices also closed the session with a cut of over 1%.
The Realty and IT index also closed the session with losses of over 1%.
The SENSEX has corrected over 300 points over the last two sessions of trade.
The sell off witnessed over the previous two sessions has finally taken the index below the broad
trading range of 18000—18700 levels.
The index can now slip towards the 17700—17500 levels over the upcoming sessions if it trades below the 18000—18200 levels.
Pullbacks from current levels will face stiff resistances between the 18200—18350 levels.
We booked full profits on our intraday Short call given on Zee Ent. Ltd @ 136.90 levels.(Initiated @138.20 levels).
The recommendation fetched a smart intraday gain of Rs 2600/- per lot to the subscribers of our product Intraday calls section.
We recommend subscribing to our product Intraday Calls section to avail such profitable Intraday calls.
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