No stock data available
Highlights
- The 30-share BSE Sensex jumped 633.29 points or 0.83 per cent to settle at 76,704.13. During the day, it soared 929.38 points or 1.22 per cent to 77,000.22.
- The 50-share NSE Nifty surged 196.65 points or 0.83 per cent to end at 23,777.80.
- From the 30-Sensex firms, Eternal, Tech Mahindra, Infosys, Mahindra & Mahindra, HCL Tech, Adani Ports, Tata Consultancy Services and Axis Bank were among the major gainers.
Stock market benchmark indices continued their robust recovery for the third consecutive session on Wednesday, March 18, as the Sensex and Nifty ended nearly 1 per cent higher. Sensex surged over 600 points to reclaim the 76,700 level.
The rally, fuelled by a rebound in IT heavyweights and favourable global cues amid a slight drop in crude oil prices, has set a bullish tone for the markets heading into Thursday, March 19. A rally in IT stocks also led to the optimistic trend in the domestic markets.
Sensex, Nifty today at close
The 50-share NSE Nifty surged 196.65 points or 0.83 per cent to end at 23,777.80.
“The broader markets witnessed a strong recovery, with midcap and small cap indices outperforming the benchmark. The midcap index gained approximately 2.02%, while the smallcap index advanced around 1.67%, indicating improved risk appetite and broader participation across the market,” he added.
The market sentiment remains cautiously optimistic heading into Thursday’s session. Analysts expect the indices to maintain a positive bias, supported by improving global cues and easing commodity prices.
Sensex Prediction for Thursday, March 19 by Vipin Dixena
According to Vipin Dixena, a SEBI-registered analyst, the intraday chart shows a recovery rally facing resistance rejection at 77,000. “Structure has shifted to higher highs and higher lows, indicating short-term bullish momentum. EMA 50 is turning upward, supporting the recovery trend. RSI at 60 is in bullish territory but starting to flatten, hinting at possible consolidation,” he said.
“As long as price holds above 76,200 support, bias remains buy-on-dips. Failure to hold 76,200 may lead to a pullback toward 75,500–75,000,” Dixena concluded.
Sensex Prediction for Thursday, March 19 by Aakash Shah
From a technical perspective, the index has now decisively moved above the 76,000 psychological level, indicating strengthening bullish momentum in the short term, Shah stated.
Technical levels to watch on Thursday
Immediate support is placed near the 76,200–76,300 zone, which is likely to act as a key demand area, Shah said.
“On the upside, resistance is seen around the 77,200–77,500 range, and a sustained move above this zone could trigger further upside in the coming sessions,” he added.
On Tuesday, the Sensex jumped 567.99 points, or 0.75 per cent, to settle at 76,070.84. The Nifty climbed 172.35 points, or 0.74 per cent, to end at 23,581.15.
(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.)
