BSE SENSEX (18,384.90)

The SENSEX opened the session on a flat note and traded in a very sedate and lethargic note throughout the day’s trade.

The 18350—18440 levels were the narrow trading range for the SENSEX for the entire trading session. The SENSEX finally closed the session at the 18384.90 levels with a loss of 9.39 points and remained unchanged as compared to the previous session.

The overall market breadth also remained flat as the advance decline ratio closed equally in favour of the advances and the declines in the ratio of 1:1 The Consumer durables index led by smart gains in its heavyweight Titan Ind. was the biggest gainer amongst the sectoral indices as it closed the session with a gain of close to 1.50%. The Auto index closed with a cut of 0.50%. Rest of the sectoral indices closed on a flat note.

The SENSEX went through another day of trade wherein it traded on a very flat and sedate note. The index is still grinding and consolidating within the broad range of 18000—18700 levels.

This battle between the bulls and the bears is likely to continue until the SENSEX breaks the 18700 levels on the upside or conversely breaks below the 18000 levels on the downside. The 18300--18100 levels will be the key near term support for the SENSEX on the downside. Upside resistances are placed at the 18550—18700 levels.

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Today’s supports for the SENSEX are placed at the 18150 and 18250 levels whereas resistances are placed at the 18550 and 18650 levels