The SENSEX gave a negative opening taking cues from the world markets, and the index traded in a small range after the opening, failing to take direction. The market’s in the final hours of trade gained sharply to close the session with sharp gains.Sensex shut shop at 17542 after some short covering rally took the markets to higher levels as traders rolled over their positions from the August series to the September series in the derivatives segment. Today Sensex has to cross 17600 and build up towards 17750-17800 in order to breach the 18000 mark. On the other hand, if Sensex falls below 17450, then some selling pressure could come in towards 17300-17250 levels too. Fed Chair Ben Bernanke and other central bankers meet in Jackson Hole, Wyo. Friday as the European financial crisis and sluggish U.S. economy pressure policymakers to act.
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