MTECHTIPS:-SENSEX
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 witnessed some recovery, but still closed with losses for the day.Sensex ended the week at 17381 after some serious profit booking took the markets to lower levels as traders cut their positions ahead of the Jackson hole meet. Today Sensex has to cross 17450 and build up towards 17550-17700. On the other hand, if Sensex falls below 17280, then some selling pressure could come in towards 17100-17000 levels too. Investors are now awaiting comments from European Central Bank President Mario Draghi after the bank's meeting on Thursday. Many investors will look to the ECB meeting to glean strong clues on what to expect from the Federal Open Market Committee's own policy meeting the following week on Sept 12-13.
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 witnessed some recovery, but still closed with losses for the day.Sensex ended the week at 17381 after some serious profit booking took the markets to lower levels as traders cut their positions ahead of the Jackson hole meet. Today Sensex has to cross 17450 and build up towards 17550-17700. On the other hand, if Sensex falls below 17280, then some selling pressure could come in towards 17100-17000 levels too. Investors are now awaiting comments from European Central Bank President Mario Draghi after the bank's meeting on Thursday. Many investors will look to the ECB meeting to glean strong clues on what to expect from the Federal Open Market Committee's own policy meeting the following week on Sept 12-13.
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