The trading for the week began marginally higher owing to positive cues from other bourses. The index then slipped into a consolidation mode and traded within a narrow range. However, post the midsession; we witnessed a gentle slide in the market, which pulled the index marginally inside the negative territory. During the session, the IT, Consumer Durables, Banking and Oil & Gas sectors traded with a negative bias; whereas the Auto, Metal and Power counters somehow managed to close in the green. The advance to decline ratio was strongly in favor of the declining counters. (A=916 D=1971) (Source–www.bseindia.com)
Formations
--The ’89-day EMA’ and the ’89-week EMA’ are placed at 28236 / 8517 and 24656 / 7400 levels, respectively.
--The ’20-day EMA’ and the ‘20-week EMA’ are placed at 29000 / 8778 and 28260 / 8522 levels, respectively.
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