Sensex Prediction for Thursday, June 18: Indian benchmark indices extended their winning streak to a fourth straight session on Wednesday, with the BSE Sensex closing above the 77,100 mark and the Nifty reclaiming 24,000, buoyed by softening crude oil prices following a peace deal between the US and Iran and sustained foreign investor participation.
Sensex at close on Wednesday, June 17
Created with AI. Errors are possibleThe 50-share NSE Nifty rallied 96.55 points, or 0.40 per cent, to end at 24,085.70.
With the BSE benchmark jumping 3,323.07 points, or 4.50 per cent over the last four trading sessions, market experts expect the bullish momentum to continue when trading resumes on Thursday, June 18, although investors may witness some volatility near key resistance levels.
Sensex gainers and losers on Wednesday, June 17
Sensex Prediction for Thursday, June 18 by experts
Market analysts point to a robust ‘higher high, higher low’ pattern on the daily chart, a classic indicator that suggest a short-term uptrend remains firmly intact. However, momentum indicators suggest a temporary pause or a minor hurdle could be ahead.
Sensex Prediction for Thursday, June 18 by Vipin Dixena
According to SEBI-registered market analyst, Vipin Dixena, Sensex continues to trade in a strong short-term uptrend, holding comfortably above the rising 50-EMA and consolidating just below the key 77,200 resistance zone.
He further said the index has formed a series of higher highs and higher lows after a sharp recovery from the 76,200 area, indicating sustained buying interest. “RSI is hovering near 70, indicating strong momentum but also suggesting that the market is approaching overbought territory,” Dixena stated.
A decisive move above 77,210 could open the door for 77,500–77,800, while immediate support is placed at 76,955, he pointed out.
For Thursday, Dixena said, “Market sentiment remains constructive, supported by easing crude oil prices, stable global cues, and continued FII participation, keeping the overall bias bullish as long as Sensex holds above support.”
Sensex Prediction for Thursday, June 18 by Hitesh Tailor
Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Private Limited, said technically, Sensex formed a bullish candle with a higher high and higher low formation, indicating continued buying interest after the recent breakout.
“The index remained above its key short-term moving averages and sustained above the breakout zone, suggesting that the prevailing uptrend remains intact. The ability to hold gains despite intraday volatility highlights strength in the broader market structure, while momentum indicators continue to support a positive bias,” he said.
Sector-wise, Capital Goods (+2.76%), Industrials (+1.83%), PSU Banks (+1.80%), Consumer Durables (+1.39%), Power (+1.19%), Metals (+1.15%), Information Technology (+0.80%), and Telecommunication (+0.68%) emerged as the top gainers, he said, adding, buying interest was also visible in Commodities, Financial Services, Bankex, Consumer Discretionary, and Oil & Gas stocks.
“On the other hand, Auto, Realty, FMCG, Utilities, and Hospitals witnessed mild profit booking and underperformed the broader market,” he added.
Tailor noted that the overall market bias remains positive to bullish as the index continues to trade above key support levels and maintains its higher-high higher-low structure.
“As long as Sensex sustains above the 76,500–76,700 support zone, the positive momentum is likely to continue. On the upside, immediate resistance is placed around 77,500–77,600, where some profit booking may emerge. However, the broader undertone remains constructive, and stock-specific action is expected to remain positive,” he concluded.
Broader markets, sectoral indices on Wednesday, June 16
The BSE MidCap Select index jumped 1.20 per cent and SmallCap Select index went up by 0.31 per cent.
Sectorally, Capital Goods surged 2.76 per cent, Industrials (1.83 per cent), PSU Bank (1.80 per cent), Consumer Durables (1.39 per cent), Power (1.19 per cent) and Metal (1.15 per cent). Utilities, Auto, Realty were the laggards.
A total of 2,404 stocks advanced while 1,876 declined and 163 remained unchanged on the BSE.
On Tuesday, the Sensex jumped 544.15 points, or 0.71 per cent, to settle at 76,808.48. The Nifty climbed 135.25 points, or 0.57 per cent, to end at 23,989.15.
(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.)
