Sensex Prediction tomorrow, June 24 by experts: Indian benchmark indices came under heavy selling pressure on Tuesday, with the BSE Sensex tumbling nearly 900 points and the NSE Nifty slipping below the 23,850 mark, tracking a bearish trend in global markets along with weakness in HDFC Bank and IT firms. Fresh foreign fund outflows also led to the weak trading in equities.
The sharp U-turn in the market has left traders on high alert, with eyes fixed on whether key support levels will hold during Wednesday’s session.
Created with AI. Errors are possibleSensex at close today, June 23
The 50-share NSE Nifty dropped 278.80 points, or 1.16 per cent, to end at 23,824.10.
Last week, the benchmark indices rallied in four trading sessions out of five. In the previous trading session also, the benchmarks registered gains.
Sensex gainers and losers today, June 23
Sensex Prediction for Wednesday, June 24 by experts
Technical analysts say indicators suggest caution for Wednesday’s session as bears remain in control after Tuesday’s steep correction.
Sensex Prediction for Wednesday, June 24 by Hitesh Tailor
Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Private Limited, noted that the benchmark index Sensex has formed a strong bearish candle on the daily chart, reflecting aggressive profit booking after the recent upmove.
The sharp decline from the day’s high and close near the lower end of the session suggests that sellers remained in control throughout most of the trading day, he said.
“The index has slipped below immediate short-term support levels, signalling a pause in the recent bullish momentum. However, Sensex continues to trade above the broader support zone, and the price action near the 76,000 level will remain crucial for determining the next directional move, Tailor said.
“Sensex closed at 76,200.70, down by 893.40 points (-1.16%). The index opened marginally lower at 77,086.05, down by around 8 points from the previous close. Initial buying interest helped the benchmark touch an intraday high of 77,194.85 during the early session,” he said, however, the market witnessed sharp selling pressure thereafter, dragging the index towards an intraday low of 76,082.50. Despite a minor recovery from lower levels, Sensex ended the day near the lower end of the trading range at 76,200.70, reflecting broad-based weakness across sectors.
Sectoral trend on Tuesday
Sector-wise, selling pressure was visible across most sectors, with Information Technology, Focused IT, PSU Banks, Consumer Discretionary, Oil & Gas, Industrials, Consumer Durables, Realty, Services, Utilities, and Auto emerging as the major laggards. Weakness was also witnessed in Capital Goods, FMCG, Power, Hospitals, and Energy stocks. On the positive side, Private Banks, Top 10 Banks, Healthcare, Telecommunication, and Bankex showed relative resilience and helped limit the broader downside.
Tailor further stated that the overall market bias has turned cautiously negative in the short term following today’s sharp correction.
“As long as Sensex holds above the 75,800–76,000 support zone, the broader structure remains stable and a pullback cannot be ruled out. On the upside, immediate resistance is placed around 77,100–77,300, where fresh selling pressure may emerge. Traders should remain stock-specific and watch for stability near key support levels before adopting aggressive long positions,” he cautioned.
Sensex Prediction for Wednesday, June 24 by Vipin Dixena
According to SEBI-registered analyst Vipin Dixena, Sensex has decisively broken below both the 50-EMA and the key support zone of 76,500, indicating a clear loss of short-term momentum.
“The sharp sell-off suggests aggressive profit booking, while RSI has slipped to around 23, entering oversold territory but not yet showing a convincing reversal signal,” he said.
Immediate support is placed at 76,000, and a breakdown below this level could extend the decline toward 75,700–75,500. On the upside, 76,500 now becomes the first resistance. The short-term bias remains bearish, Dixena suggested.
Board markets, sectoral indices on Tuesday
Broader markets also closed lower as the BSE MidCap Select index dropped 0.99 per cent and SmallCap Select index by 0.50 per cent.
Among sectoral indices, Metal tanked the most by 3 per cent, followed by IT (2.24 per cent), PSU Bank (2.08 per cent), Commodities (1.90 per cent), Telecommunication (1.88 per cent), Focused IT (1.81 per cent) and Bankex (1.42 per cent). Healthcare emerged as the only winner.
A total of 2,794 stocks declined, while 1,496 advanced and 157 remained unchanged on the BSE.
On Monday, the Sensex climbed 291.17 points, or 0.38 per cent, to settle at 77,094.07. The Nifty surged 89.80 points, or 0.37 per cent, to end at 24,102.90.
(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.)
