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Sensex Prediction for tomorrow, April 7 by experts: The equity benchmark indices witnessed a strong comeback on Monday, April 6, with the 30-share BSE Sensex gaining 787 points to close at 74,106.85, after falling in early trade following a correction in crude oil prices amid reports of ceasefire efforts in the ongoing West Asia war. Intense buying in banking and IT stocks, and a strengthening rupee, also supported investor sentiment.
As the market gears up for Tuesday’s session, analysts suggest a mix of optimism and caution, highlighting critical technical levels that will dictate the next leg of the rally.
Sensex, Nifty at close on Monday, April 6
The 50-share NSE Nifty edged higher by 255.15 points, or 1.12 per cent, to end at 22,968.25.
Sensex gainers and losers on Monday, April 7
“Sector-wise, gains were broad-based, led by Financial Services, Private Banks, PSU Banks and Consumer Durables, along with strength in Auto and Metal indices, indicating improved risk appetite. Meanwhile, Oil & Gas and Media remained under slight pressure, reflecting some sectoral divergence despite the overall positive trend,” he added.
Sensex Prediction for Tuesday, April 7 by experts
Analysts expect the Sensex to maintain a mild bullish bias, with the potential for consolidation near the 74,500–75,000 resistance zone. A sustained move above this range could trigger further upside, while failure to hold above 73,800 may lead to a short-term pullback.
The market tone, overall, remains positive, but the analysts said the traders are likely to stay cautious amid global uncertainties and key technical resistance levels.
Sensex Prediction for Tuesday, April 7 by Vipin Dixena
SEBI-registered analyst, Vipin Dixena, said, “The intraday structure shows a short-term recovery within a broader sideways-to-down trend; price has given a breakout above the immediate resistance zone near 73,800–73,850.”
He further stated the SENSEX is now hovering above the 50 EMA, which is flattening, indicating transition rather than a strong trend. RSI is near 65, showing improving momentum but nearing a short-term stretched zone.
Support, resistance levels to watch on Tuesday
Immediate levels: support at 73,800, resistance at 75,000, he said. For Tuesday, he said, “Bias remains mildly bullish above 73,800, but failure to sustain above this breakout can lead to a pullback.”
Sensex Prediction for Tuesday, April 7 by Hitesh Tailor
From a technical standpoint, Hitesh Tailor of Choice Equity Broking Private Limited, said the index has shown a continuation of the recovery trend, with improving price structure and sustained buying interest at lower levels.
Support and resistance levels to watch on Tuesday
He further stated, “Key technical levels indicate that support is placed in the 73,300–73,500 zone, which is expected to act as a demand area on declines, while resistance is seen around 74,500–74,800, where any further upside may face supply and profit-booking pressure.”
For market bias on Tuesday, the analyst said, “With a strong close and follow-through buying, the near-term outlook remains cautiously positive, though the index may witness some consolidation near resistance levels before any decisive breakout.”
Sectoral indices on Monday, April 6
Sectorally, BSE PSU Bank surged 2.37 per cent, Consumer Durables (2.30 per cent), Private Banks index (2.15 per cent), Financial Services (2.12 per cent), BSE Top 10 Banks (2.07 per cent), Bankex (2.03 per cent), and utilities (1.94 per cent).
In contrast, energy and oil & gas were the laggards.
Consumer durables emerged as the top performer, supported by a strong demand outlook and interest in consumption-led themes. IT stocks also outperformed, with the Nifty IT index gaining on the back of rupee movements and defensive buying amid geopolitical uncertainty, as currency weakness supports export-oriented earnings.
Brent crude, the global oil benchmark, dropped 0.71 per cent to USD 108.3 per barrel.
The rupee gained 14 paise to close at 93.04 (provisional) against the US dollar on Monday.
In the commodities market, gold prices continued their upward trend, trading at Rs 1,50,890 per 10 grams for 24 karat, while silver prices also rose to Rs 2,34,531 per kg.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,931.13 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 7,208.41 crore.
On Thursday, the 30-share BSE Sensex settled higher by 185.23 points, or 0.25 per cent, at 73,319.55. The Nifty closed at 22,713.10, up by 33.70 points, or 0.15 per cent.
