Sensex Prediction for Monday, July 20 by experts: Indian equity markets are gearing up for an action-packed session on Monday, July 20, with the benchmark 30-share BSE Sensex likely to remain on a positive footing and build on the explosive rally in the previous session.
Propelled by buying in blue-chip Reliance Industries, banking and IT stocks, Sensex climbed 964.58 points or 1.25 per cent to close at 78,151.45 on Friday, setting up a clear “sideways-to-bullish” bias for the fresh week.
Sensex top gainers and losers on Friday, July 17
Sensex Prediction for Monday, July 20 by experts
The analysts expect the index to test the crucial 78,600-79,000 resistance zone. However, they cautioned that corporate earnings and stock-specific action will dictate the market’s next directional move.
Sensex Prediction for Monday, July 20 by Vipin Dixena
According to SEBI-registered analyst Vipin Dixena, the technical setup has improved significantly, with the Sensex extending its rebound and trading well above the 50-day exponential moving average (EMA), indicating that short-term momentum has turned positive.
“The index is approaching a crucial resistance at 78,600, while immediate support is placed near 77,900–78,000. RSI has climbed to around 70, suggesting strong bullish momentum but also indicating the index is nearing the overbought zone. A decisive breakout above 78,600 could open the door for further upside, while failure to sustain above 78,000 may lead to some profit booking,” he said.
The analyst added that investors are expected to closely track the ongoing April-June quarter earnings announcements, which are likely to drive stock-specific action and determine the market’s next directional move.
Sensex Prediction for Monday, July 20 by Sachin Gupta
Echoing a bullish view, Sachin Gupta, Vice President – Technical Research at Choice Equity Broking, said Friday’s rally reflected renewed investor confidence, with the benchmark reclaiming key technical levels.
From a technical standpoint, Sensex has decisively crossed above its 100-Day EMA, which is a positive development and signals improving market strength. The index is also trading comfortably above its 20-Day and 50-Day EMAs, confirming that the short-term trend has turned bullish, although it continues to trade below the 200-Day EMA, which remains the next key hurdle for the broader trend. The RSI has strengthened to 59.84, reflecting improving momentum and increasing buying participation,” Gupta stated.
He expects the immediate support is placed in the 77,300-77,400 zone, while 78,900-79,000 will act as the immediate resistance range. “The expected trading range remains 77,300–79,000, with the overall bias shifting from sideways to bullish, indicating that the market is gradually building strength for a potential upside move,” he added.
“The BSE Sensex staged a strong comeback on Friday, ending the session at 78,151, gaining 964.58 points up by 1.25% after witnessing broad-based buying across frontline stocks. The index opened higher at 77,370.77 and remained in positive territory throughout the day, touching an intraday high of 78,282.55 before settling near the day’s highs. The benchmark also recorded an intraday low of 77,308, indicating that buying interest emerged at lower levels and remained firm throughout the session.” Gupta said.
The sharp recovery reflects renewed optimism among investors, supported by sustained buying in heavyweight sectors. The strong close near the day’s high suggests that bulls remained firmly in control till the end of the trading session, he said.
Overall, Gupta said the technical structure has improved considerably after the index reclaimed the 100-Day EMA, indicating a strengthening short-term trend.
“As long as Sensex holds above the 77,300–77,400 support zone, the positive momentum is likely to remain intact. A sustained move above the 78,900–79,000 resistance zone could trigger fresh buying and pave the way for further upside in the coming sessions,” he said, adding that until then, traders may continue to witness stock-specific action with a sideways-to-bullish bias, while maintaining disciplined risk management amid evolving market conditions.
Broader markets, sectoral indices on Friday
The BSE SmallCap Select index declined 0.32 per cent, and the MidCap Select index dipped 0.07 per cent.
Among sectors, Private Banks Index climbed 1.81 per cent, Top 10 Banks jumped 1.78 per cent, MidSmall Private Banks Quality Tilt (1.65 per cent), Bankex (1.58 per cent), IT (1.38 per cent), Focused IT(1.28 per cent) and Financial Services (1.20 per cent). Commodities, Industrials, Telecommunication and Metal were the laggards.
“Sector-wise, Auto, Information Technology, Private Banks, Bankex, Financial Services, Realty, Oil & Gas, Energy, Focused IT, and PSU Banks attracted healthy buying interest and remained the key contributors to the day’s rally. Strength in banking and IT stocks played a significant role in lifting the benchmark higher, while buying also extended to select energy and realty counters. On the other hand, Capital Goods, Healthcare, Telecommunication, Industrials, Metals, Power, Utilities, Commodities, Consumer Durables, and Services witnessed mild profit booking and underperformed compared to the broader market. Despite this selective weakness, the overall market breadth remained favourable, highlighting continued investor interest in sector-specific opportunities,” Gupta stated.
On Thursday, the Sensex edged up 1.44 points to settle at 77,186.87. The Nifty dipped 5.75 points, or 0.02 per cent, to end at 24,072.75.
(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.)
