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The 30-share BSE Sensex jumped 938.93 points or 1.26 per cent to settle at 75,502.85. During the day, it hit a high of 75,805.27 and a low of 73,949.76. The 50-share NSE Nifty climbed 257.70 points or 1.11 per cent to end at 23,408.80.
Aakash Shah, Research Analyst, said, “On 16 March 2026, the BSE Sensex staged a strong rebound after the sharp sell-off in the previous session, rising over 900 points to close near 75,500 levels, reflecting a recovery in market sentiment. The benchmark index traded largely in positive territory throughout the day as investors stepped in to accumulate beaten-down large-cap stocks following the recent correction. The rebound was also supported by improved global cues and selective buying in heavyweight sectors.”
“Broader markets also witnessed a modest recovery, although midcap and smallcap indices underperformed the benchmark index, indicating cautious sentiment among investors despite the bounce in frontline stocks,” the analyst added.
Sensex Prediction for Tuesday, March 17 by experts
Analysts Vipin Dixena and Aakash Shah have given the following outlook for the trading session on Tuesday, March 17.
Sensex Prediction for Tuesday by Aakash Shah
From a technical perspective, Aakash Shah, Research Analyst, said the index has managed to reclaim the 75,000 psychological level, suggesting short-term stabilisation after the recent decline.
Key levels to watch on Tuesday, March 17
Shah said, “Immediate support for the index is now placed around the 75,000–75,100 zone, which may act as a near-term demand area.”
“On the upside, resistance is seen near the 76,000–76,100 band, and a sustained move above this level could trigger further recovery in the coming sessions”, Shah concluded.
Sensex Prediction for Tuesday, March 17 by Vipin Dixena
SEBI-registered Vipin Dixena said, “Intraday chart of SENSEX shows a sharp bullish recovery after a breakdown trap. Price bounced strongly from 74,600 support and formed a vertical move, indicating aggressive short covering and fresh buying.”
Technical levels to monitor on Tuesday
The index is facing resistance at 75,700 while the structure shows the first higher low and momentum shift after the downtrend phase, according to Dixena.
“RSI near 53 has crossed above the midline, signalling improving bullish momentum but still leaving room for continuation. As long as 74,600 holds, the bias remains bullish, and a breakout above this level can push the price toward 75,500. However, rejection near 75,700 may lead to a pullback toward the 75,000–74,700 support zone,” he concluded.
Sectoral indices performance
The BSE MidCap Select index dipped 0.36 per cent, and the smallcap Select index edged lower by 0.25 per cent.
Among sectoral indices, BSE Top 10 Banks surged 1.61 per cent, followed by Private Banks index (1.38 per cent), Financial Services (1.32 per cent), Auto (1.23 per cent), Bankex (1.08 per cent) and FMCG (0.94 per cent).
BSE oil & gas index dropped 2.29 per cent, hospitals (1.64 per cent), realty (1.51 per cent), energy (1.36 per cent) and healthcare (1.13 per cent).
On Friday, the Sensex settled at 74,563.92, down 1,470.50 points or 1.93 per cent. The Nifty tanked 488.05 points or 2.06 per cent to end at 23,151.10.
(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.)
