Sensex prediction for Monday, 13 July: The Indian equity markets are expected to enter the new week on Monday, July 13, with a cautiously positive bias after staging a strong rebound in the previous two sessions, with technical analysts identifying the 78,000 mark as the key hurdle that could determine the market’s near-term direction.
Sensex at close on Friday, July 10
Easing crude oil prices and buying in IT stocks after TCS reported an increase in its June-quarter net profit and guided towards an improvement in demand returning in the ongoing quarter also propelled the rally in the domestic market.
Sensex top gainers and losers on Friday, July 10
Sensex Prediction for Monday, July 13
Market analysts expect a range-bound yet positive bias for Monday’s opening session, tracking a mix of robust Q1 corporate earnings and easing global macro pressures. The analysts further said the participants will closely watch whether the Sensex can sustain its momentum and decisively cross the crucial 78,000 level.
Sensex Prediction for Monday, July 13 by experts
According to market experts, as quoted by IANS, the Sensex is likely to encounter immediate resistance in the 77,800-78,000 zone. A decisive breakout above these levels could strengthen bullish momentum and trigger further gains.
Market experts said the Sensex witnessed steady buying interest and remained resilient after reclaiming key short-term levels.
“The 77,800-78,000 zone is expected to act as immediate resistance. A sustained move above this range could reinforce bullish momentum and push the index towards the 78,400-78,600 levels,” a market expert stated.
“On the downside, immediate support is seen in the 77,300-77,200 zone, followed by the psychologically important 77,000 mark,” as per the market expert.
Holding above these levels would help preserve the ongoing recovery structure, while a decisive break below 77,000 could trigger fresh profit booking and drag the index towards the 76,700-76,500 range, the expert mentioned.
Sebi-registered analyst Vipin Dixena said the Sensex has staged a strong recovery from recent lows and is now trading above its 50-day exponential moving average (EMA), signalling improving short-term sentiment.
Dixena said, “RSI has climbed to around 58, reflecting strengthening bullish momentum. A sustained move above 78,000 could open the door for further upside, whereas a break below 77,400 may trigger fresh profit booking. Market sentiment remains positive as investors focus on the start of the Q1 earnings season,” Dixena stated.
Broader markets, sectoral indices on Friday, July 10
The BSE MidCap Select index jumped 1.74 per cent and the SmallCap Select index climbed 1.03 per cent.
All sectors ended in positive territory. Realty surged 3.40 per cent, PSU Bank 3.26 per cent, MidSmall Private Banks Quality Tilt 2.56 per cent, Focused IT 2.29 per cent, Information Technology 2.01 per cent, Metal 1.55 per cent and Services 1.50 per cent.
A total of 2,883 stocks advanced, while 1,377 declined and 174 remained unchanged on the BSE.
On the weekly front, the BSE benchmark declined 194.52 points, or 0.25 per cent, and the Nifty dipped 63.95 points, or 0.26 per cent.
On Thursday, the Sensex climbed 238.22 points, or 0.31 per cent, to settle at 76,741.82. The Nifty went up by 80.75 points, or 0.34 per cent, to end at 23,962.80.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
