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Sensex Prediction for Friday, March 27 by experts: After a mid-week pause for Ram Navami on Thursday, March 26, the Indian stock markets are set to resume trading on Friday, March 27, with investors eying a continuation of the two-day relief rally. After the BSE Sensex gained around 2,577 points on Tuesday and Wednesday, analysts cautioned that the benchmark index’s sustainability will depend on key resistance and support levels.
Stock Market Recap: Sensex at close on Thursday – Bulls charge back
Before going on holiday, the stock markets rallied for the second consecutive day on Wednesday, with benchmark indices Sensex and Nifty closing nearly 2 per cent higher, as crude oil prices dropped and global markets advanced amid hopes of de-escalation in the war in West Asia.
“Market sentiment improved notably in the latter half of the session, with broad-based buying across key sectors, indicating renewed confidence and short-covering following the recent phase of weakness,” Tailor added.
Sensex Prediction for Friday, March 27 by experts
Experts are cautiously optimistic for the trading session on March 27, noting that while the “bias remains range-bound to bullish,” sustainability depends on holding recent gains.
Sensex Prediction for Friday, March 27 by Vipin Dixena
SEBI-registered analyst, Vipin Dixena, stated the intraday chart structure shows formation of continuous higher high, indicating the broader trend still strong. “RSI near 60 is cooling off from higher levels, suggesting momentum loss after the bounce,” he further stated.
Technical levels to watch on Friday
Dixena said the immediate resistance is at 75,900–76,100, while support lies at 74,500. “Sustaining above 76,100 can trigger continuation towards 76,800–77,200, and failure to hold 74,500 can lead to a pullback towards 74,000,” he said.
“Bias remains range to bullish unless clean breakdown below 74,500,” the analyst concluded.
Sensex Prediction for Friday, March 27 by Hitesh Tailor
Analyst Hitesh Tailor highlighted that the recent rebound signals emerging demand at lower levels, indicating the possibility of a short-term base formation.
He said, “From a technical perspective, the index has delivered a strong rebound from lower levels, highlighting active demand near support zones and signalling the possibility of a short-term base formation, provided follow-through buying continues in subsequent sessions.”
Technical levels to watch on Friday, March 27
On the technical front, Tailor said the index continues to trade near key lower levels, reflecting a cautious undertone with limited upside visibility in the near term. “The 73,500–73,600 band acts as an immediate demand zone where dip-buying interest may emerge on any pullback, while the 74,500–74,600 range stands as the immediate resistance hurdle, where upside is likely to face supply pressure and profit booking,” he added.
On the market bias for Friday, the analyst said, “With a strong recovery following recent weakness, the near-term outlook turns cautiously positive. However, the sustainability of the rally will depend on the index holding above key support levels and witnessing consistent follow-through buying on the upside to reinforce upward momentum.”
Sectoral performs on Wednesday
The BSE SmallCap Select index jumped 3.05 per cent and MidCap Select index climbed 2.50 per cent.
All sectoral indices ended higher. BSE MidSmall Private Banks Quality Tilt surged 3.70 per cent, followed by commodities (2.75 per cent), PSU Bank (2.61 per cent), realty (2.53 per cent), metal (2.51 per cent), industrials (2.49 per cent) and services (2.42 per cent). A total of 2,959 stocks advanced, while 1,357 declined and 156 remained unchanged on the BSE.
On Tuesday, the Sensex jumped 1,372.06 points or 1.89 per cent to settle at 74,068.45. The Nifty surged 399.75 points or 1.78 per cent to end at 22,912.40.
The Indian stock markets remained closed for trading on Thursday on the occasion of Ram Navami.
According to the stock market holiday calendar, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) remained shut, and no trading took place. Moreover, the Equity Segment, Equity Derivative Segment, Currency Derivatives Segments and NDS-RST and Tri Party Repo segments remained closed for trading.
The Multi-Commodity Exchange of India (MCX) declared a trading holiday for the first half, or the morning session. Trading in commodities on all exchanges will begin in the evening session at 5 pm.
(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.)
