The SENSEX opened the session with nominal gains and remained range bound throughout the day’s trade.
The 18360—18270 was the narrow trading range for the SENSEX during yesterday’s session.
The SENSEX registered an intraday low of 18261.11 levels.
The SENSEX finally closed the session at the 18308.66 levels with a nominal gain of 43 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 Capital goods index was the biggest gainer amongst the sectoral indices with a smart gain of 1%.
The Power index also put on a gain of close to 1%.
The Consumer durables index was the biggest loser during yesterday’s session with a cut of 1.50%.Rest of the sectoral indices closed on a flat note.
It was another flat and lack lustre session of trade whereinthe index traded within a narrow range of 18360—18270levels for the entire session.
We maintain that the SENSEX would remain within the broad trading range of 18000—18600 levels if the index holds on to the support levels of 18000—18200 levels.
A bearish view can be taken only if the SENSEX closes below the 18000 levels on the downside.
The key moving average clusters placed between the 18450—18600 levels will act as stiff resistance for the index on the upside.
No comments:
Post a Comment