The SENSEX opened the session on a flat note and the index gradually moved upwards as the session progressed. Smart gains amongst key index heavyweights like Reliance Ind, Tata steel, Cipla and Infosys propelled the SENSEX to an intraday high of 18546 levels. The SENSEX finally closed the session at the 18495.62 levels with a smart gain of 76 points.
The overall market breadth remained flat for the 3rd consecutive session of trade as the advance decline ratio closed equally in favour of the advances and the declines in the ratio of 1:1
The Realty Index was the biggest gainer amongst the sectoral indices as it closed the session with a gain of close to 2%. The IT index closed with a gain of over 1% for the 2nd
consecutive session of trade. The Capital goods index closed with a loss of half a percent.
The SENSEX added on to the gains witnessed during the previous session of trade. We reiterate that, the 18000—18700 levels will be the broad trading range for the index, until it crosses the 18700 levels and registers a close above the same during the upcoming sessions. The near term and short term moving average clusters placed between the 18400—18300 levels will act as good support for the index on the downside. The 18700—18750 levels would be the near term upside targets for the SENSEX, if it sustains above the 18300 levels.
We booked full profits on our intraday long call given Bata India Ltd @ 511.50 levels. (Initiated @504.50 levels). The recommendation fetched a fabulous intraday gain of Rs 7000/- 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 18250 and 18375 levels whereas resistances are placed at the 18625 and 18750 level
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