After a rather lacklustre performance, the Sensex managed to end higher for the fifth straight day. The index was up 50-odd points on Monday, and with it up nearly 250 points in the last five days at 17,745.
Sterlite led the gainers list among the index stocks. HDFC, Hindalco and HDFC Bank were the other major gainers. On the other hand, Sun Pharma shed nearly 5%. DLF, Maruti, Reliance and ICICI Bank were the other major losers.
Today, it seems that the up move may be capped around 17,830-17,885. On the downside, 17,660 is a crucial support, below which the index can slip up to 17,500.
The Nifty was up 18 points at 5,322 yesterday. The up move on the Nifty seems capped around 5,350 for the moment. On the downside, the index may slip up to 5,240.
Momentum indicators continue to show a divergent signal, which makes the reading all the more confusing.
