The SENSEX opened the session with a gap down on the back of extremely negative cues from its global peers. The index plunged to an intraday low of 18390 levels during the early hours of the day’s trade. But the index gradually recovered from its day’s low as the session progressed. The SENSEX finally closed the session at the 18,494.18 levels with cut of 114.63 points.
The overall market breadth remained choppy 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 looser amongst the sectoral indices as it closed the session with a cut of 1.50%. The Metal and Realty indices also closed the session with cuts of 1% each. The FMCG index led by its heavyweight HUL & ITC closed the session with a smart gain of 1%. As we had been pointing out in our previous few daily trading notes the SENSEX pulled back from the 18600 levels during yesterday’s session. Sustenance below the 18600 levels will see the index pullback further towards the 18300—18100 levels. But, the 18100 to 18700 levels are likely to remain the broad trading range for the SENSEX over the upcoming few sessions of trade.
The near term moving average placed at the 18350 levels will act as good near term support for the SENSEX, whereas the 18700—18800 zone will act as stiff resistance for the SENSEX.
We booked full profits on our long call given on Wockhardt Ltd @ 383.50 levels. (Initiated @ 361 levels). The recommendation fetched a smart return of 6.20% to the subscribers of our product Trading calls section.
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.
Today’s supports for the SENSEX are placed at the 18250 and 18375 levels whereas resistances are placed at the 18650 and 18750 levels
The overall market breadth remained choppy 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 looser amongst the sectoral indices as it closed the session with a cut of 1.50%. The Metal and Realty indices also closed the session with cuts of 1% each. The FMCG index led by its heavyweight HUL & ITC closed the session with a smart gain of 1%. As we had been pointing out in our previous few daily trading notes the SENSEX pulled back from the 18600 levels during yesterday’s session. Sustenance below the 18600 levels will see the index pullback further towards the 18300—18100 levels. But, the 18100 to 18700 levels are likely to remain the broad trading range for the SENSEX over the upcoming few sessions of trade.
The near term moving average placed at the 18350 levels will act as good near term support for the SENSEX, whereas the 18700—18800 zone will act as stiff resistance for the SENSEX.
We booked full profits on our long call given on Wockhardt Ltd @ 383.50 levels. (Initiated @ 361 levels). The recommendation fetched a smart return of 6.20% to the subscribers of our product Trading calls section.
We recommend subscribing to our product Trading Calls section to avail such profitable Equity Trading calls.
Today’s supports for the SENSEX are placed at the 18250 and 18375 levels whereas resistances are placed at the 18650 and 18750 levels
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