The SENSEX opened the session on a flat note but the index moved southwards as the session progressed.
Selling pressure amongst key index heavyweights like SAIL, DLF, Axis Bank, Wipro and R Power dragged the SENSEX to an intraday low of 18111 levels.
The SENSEX finally closed the session at the 18132.24 levels with a loss of 177 points.
The overall market breadth remained flat throughout the day’s trade and the advance decline ratio closed equally in favour of the advances and the declines in the ratio of 1:1 The Bank index was the biggest loser amongst the sectoral indices with a cut of 1.60%.
The Realty and IT index also closed the session with losses of over 1%.
The markets traded under pressure during the entire trading session.
With the cuts witnessed during yesterday’s session the index is now back to its key support zone of 18000—18100 levels.
A close below the 18000 levels will open up downside targets of 7700—17500 levels in the SENSEX.
The index has also registered a close below its key moving average clusters. Hence, any upsides from current levels will find resistance between the 18300—18450 levels.
We booked full profits on our intraday Short call given on Titan Ind. Ltd @ 4482.65 levels. (Initiated @4515 levels).
The recommendation fetched an intraday gain of Rs 4050/- 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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