Stock Market Prediction Today, September 3: Indian equity benchmark indices are likely to remain range-bound with a cautious bias on Thursday, September 3, after a volatile session on Wednesday, with both the Sensex and Nifty closing lower amid a bearish trend in global equities and higher oil prices due to escalating conflict in West Asia.
Technical analysts expect the market to remain volatile, with key support levels likely to determine whether the indices can stabilise or witness further correction.
Sensex, Nifty at close on Wednesday, September 2
The 50-share NSE Nifty slumped 141.35 points, or 0.59 per cent, to end at 23,914.45. The index moved between a high of 23,914.45 and a low of 23,786.80 during the day.
Stock Market Prediction Today, September 3 by experts
Sensex Prediction for Thursday, September 3
For the Sensex, Sachin Gupta of Choice Broking expects the index to remain largely sideways with a cautious undertone.
“Sensex closed at 76,570.35, declining 373.93 points (-0.49%). The index opened sharply lower at 76,471.32, marking a gap-down of around 472 points, and remained under pressure initially. It touched an intraday low of 76,135.72 before recovering and closing at the day’s high of 76,570.35, indicating some buying interest at lower levels,” he stated.
Gupta said price action remained range-bound after the sharp gap-down opening, with the 76,150 zone acting as an intraday base. The immediate support is placed at 76,100–76,300, while resistance is seen at 76,800–77,000. The broader trading range stands at 76,100–77,000, with the near-term bias remaining sideways, he added.
“A sustained hold above the support zone could help the index regain stability and trigger a recovery, while a decisive break below 76,100 may bring fresh selling pressure,” Gupta said.
From a technical perspective, Gupta said the Sensex opened with a sharp 472-point gap-down, but the 76,150 zone acted as a base and helped the index consolidate through the session.
Gupta noted that the Sensex’s daily candle had a pin-bar-like structure, with the recovery from the day’s low indicating that buyers remain active at lower levels.
However, the broader technical setup remains weak following the sharp gap-down move.
“The RSI stands at 39.82, below the neutral 50 mark and its RSI-based moving average of 46.45, indicating continued weakness in momentum. The PCR at 1.17 suggests relatively supportive derivatives positioning, which could aid stability near the current support zone,” the analyst said.
Further, he said the broader outlook remains sideways with a cautious undertone, as the Sensex attempts to build a base near the lower levels after the sharp decline.
Holding the 76,100–76,300 support zone will be crucial for sustaining the recovery, while a move above 76,800–77,000 could provide further strength. Until the index reclaims higher levels and momentum improves above its RSI-based average, recovery attempts are likely to remain selective and volatile, the analyst added.
Nifty Prediction for Thursday, September 3
According to Sachin Gupta, VP – Technical Research at Choice Broking, the Nifty, on the daily timeframe, has formed a bearish candlestick structure, indicating renewed weakness after repeated attempts to sustain above the 24,000–24,100 zone.
The index has continued to face selling pressure near higher levels, he said.
From a technical perspective, Gupta said the immediate support for Nifty is placed around 23,800, followed by the crucial 23,606 zone.
“A decisive break down below 23,800 could increase selling pressure and drag the index towards 23,606 in the near term,” he said.
On the upside, the analyst stated the immediate resistance is placed in the 24,050–24,100 zone, while the broader hurdle remains around 24,200.
“Sustained movement above this resistance band would be required to restore bullish momentum,” he added.
““Indian equity benchmark Nifty index witnessed a sharp decline on 2nd September 2026. The index remained under pressure throughout the session amid broad-based selling and eventually settled at 23,914.45, declining 141.35 points or 0.59%. The Sensex also declined 373.93 points or 0.49% to close at 76,570.35,” Gupta said.
“The repeated rejection from the 24,150–24,000 region has weakened the short-term structure and increased the possibility of further corrective pressure,” Gupta said.
- 20-Day EMA – 24,195.56
- 50-Day EMA – 24,172.72
- 100-Day EMA – 24,193.65
- 200-Day EMA – 24,357.48
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, downtrend continued in the market on Wednesday on the back of weak global cues and Nifty closed the day lower by 141 points amidst minor recovery from the day’s low.
He further stated a small green candle was formed on the daily chart with minor lower shadow, and the opening downside gap has been filled partially. “Technically, this market action signals minor buying at the lower support of 23800 (previous opening upside gap of 27th July), but still there is no confirmation of any bottom reversal in the market,” Shetti cautioned.
Shetti said the overall trend of Nifty remains weak. “The ongoing bearish pattern like lower tops and bottoms signal sell on rise opportunity on any pullback from here. Hence, any bounce back from here could find strong overhead resistance around 24100-24200 levels,” he stated.
However, further weakness below 23800 could drag Nifty down to the next important support of 23600 in the near term, the analyst added.
