BSE SENSEX (18,268.54)

The SENSEX opened the session on a flat note and remained range bound for the initial hours of the day’s trade.
Thereafter, selling pressure amongst key index heavyweights like DLF, L&T, SAIL and Tata Steel dragged the index below the early morning range and the index registered an intraday
low of 18,182.90 levels.

The SENSEX finally closed the session at the 18,268.54 levels with a loss of 116.36 points.
The overall market breadth remained choppy and the advance decline in the ratio closed slightly in favour of the declines in the ratio of 1.50:1 The Capital goods and FMCG indices were the two major losers amongst the sectoral indices as they closed with a loss of close to 1%.

The Realty index also lost close to 1%. Rest of the sectoral indices closed on a flat note.

The SENSEX closed the final session of the week’s trade on a negative note. The cut witnessed during the previous session of trade has dragged the SENSEX towards the lower end of the broad trading range of 18000—18700 levels.

The 18200—18000 zones will be the near term support for the SENSEX.
On the upside we expect the levels of 18550--18700 levels to act as stiff resistance zones.
A rally towards the 19000—19200 levels can be seen only if the SENSEX registers a close above the 18700 levels.
Conversely if SENSEX fails to take support at the 18000 levels and starts to trade below the same, we would recommend a negative bias once again with possible targets of 17750 – 17500 levels.

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