The SENSEX opened the session on a bearish note but the index recovered its early morning losses as the session progressed. The SENSEX gave a smart recovery from its day’s low to register an intraday high of 18458.63 levels. The index finally closed the session at the 18,420.11 levels with a gain of 44 points.
The overall market breadth remained flat and sedate 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 IT Index with a smart gain of 1% was the biggest gainer amongst the sectoral indices. The Healthcare index also closed with gains of close to a percent. The Metal index
closed with a cut of 1%.
The SENSEX held on to it’s near term support levels of 18200 levels and gave a smart recovery from the above mentioned support level to close at the 18400 levels. Sustenance above
the 18200—18000 zones will see the SENSEX gradually rally to once again test its key resistance zones of 18650—18750 levels on the upside.
Upsides towards the 19000—19200 levels can be seen only if the SENSEX registers a close above its key resistance zone mentioned above. Conversely, the 18000—18700 levels will
be the broad trading range for the index, if it fails to cross the above mentioned supply zones.
We booked full profits on our intraday long call given Cipla Ltd@ 332.20 levels. (Initiated @329 levels). The recommendation fetched a smart gain of Rs 3200/- per lot to the subscribers of our product Intraday calls section.
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Today’s supports for the SENSEX are placed at the 18150 and 18275 levels whereas resistances are placed at the 18550 and 18650 levels
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