3 weeks ago

Sensex Rises 152 Points; Range-Bound Trade Likely to Continue

Sensex Rises 152 Points; Range-Bound Trade Likely to Continue
Range-bound texture is likely to continue · thehansindia.com

Imagine a big store where people buy and sell small pieces of companies, which are called stocks.

The Sensex is like a scoreboard that shows how the whole market is doing.

Today, the scoreboard went up by 152 points, so most prices moved a little higher.

But sellers were also active at higher levels, so the market did not climb very far.

Some groups of companies did better than others.

The Metal companies, which work with things like steel and iron, had the best day and gained 1.70 percent.

The Media companies, which include TV and news businesses, had the worst day and fell 1.75 percent.

Experts say the market is moving sideways, like a ball bouncing between a lower line and a higher line.

Unless the market breaks above or below these lines, it will probably keep moving in this range.

Key facts

Benchmark
Sensex
Sensex change
+152 points
Best performing sector
Metal index (+1.70%)
Worst performing sector
Media index (-1.75%)
Support level
78,200-78,000
Resistance level
78,900-79,000
Upside breakout target
79,300-79,500
Downside risk below 78,000
77,500

Quotes

Shrikant Chouhan

Head of Equity Research at Kotak Securities

“"We believe that, as long as the market is trading between these ranges, a range-bound texture is likely to continue,"”
thehansindia.com

Sources

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