Sensex Prediction Today, May 14: Following a volatile trading session on Wednesday, in which the key benchmark index, the Sensex, managed to snap a gruelling four-day losing streak, closing up 49.74 points at 74,608.98, all eyes are now on the fresh trading session on Thursday, May 14.
Experts believe Sensex is likely to witness another volatile session today as investors continue to assess elevated crude oil prices, persistent foreign fund outflows and global geopolitical developments.
Sensex Prediction Today, May 14 by experts
The consensus for Thursday is a cautious recovery attempt. However, technical analysts warn that this is a ‘measured upmove’ rather than the start of a broad-based rally.
Sensex Prediction Today, May 14 by Vipin Dixena
According to SEBI-registered analyst, Vipin Dixena, Sensex remains under bearish pressure despite a short-term recovery from lower levels.
“The index is trading below the 50 EMA, keeping the broader trend weak. Price action shows repeated rejection near the 75,000 zone, which now acts as immediate resistance, while 74,250–74,300 remains an important support area. RSI has recovered from oversold territory, indicating easing selling pressure and the possibility of a short-term bounce, but momentum is still not strong enough to confirm a reversal,” he further stated.
Unless Sensex sustains above 75,000–75,200, Dixena said the overall structure remains negative with risk of another decline towards 74,000 levels.”
Sensex Prediction Today, May 14 by Aakash Shah
From a technical perspective, Shah said, the Sensex formed a small bullish candle on the daily chart, suggesting temporary stabilization after recent selling pressure. “However, the index continues to trade within a broader weak structure and remains below key short-term resistance levels, indicating that upside momentum is still not fully confirmed,” he noted.
Momentum indicators are showing early signs of recovery from oversold zones, while price action suggests that the market is attempting to form a near-term base around recent lows. Immediate support is placed near 73,700 – 73,900. On the upside, resistance is positioned near 75,300 – 75,500, and a decisive move above this zone may trigger further recovery, the analyst said.
“Overall, the market structure suggests a cautious recovery bias with stock-specific action likely to dominate in the near term. Sustained strength above immediate resistance levels will be crucial to revive stronger bullish momentum, while failure to hold support zones may invite renewed selling pressure,” said Shah.
On Wednesday, the BSE MidCap Select index climbed 0.90 per cent, and the SmallCap Select index edged higher by 0.41 per cent.
India’s retail inflation rose slightly to 3.48 per cent in April, mainly due to higher prices of gold and silver jewellery as well as some kitchen items, according to government data released on Tuesday.
(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.)
