Sensex Prediction For Tomorrow, March 27: Stock markets rallied for the second consecutive day on Wednesday (March 25), with Sensex and Nifty rising more than 2 per cent in intraday moves. The 30-share BSE Sensex jumped 1,205 points or 1.63 per cent to settle at 75,273.45. During the day, it soared 1,781.31 points or 2.40 per cent to 75,849.76.
The 50-share NSE Nifty surged 394.05 points or 1.72 per cent to end at 23,306.45.
Hitesh Tailor, Technical Research Analyst at Choice Equity Broking, said that the rally was supported by sustained buying interest and improving sentiment. The rally was largely driven by positive global cues, easing concerns around crude oil prices, and continued short covering after recent sharp declines, which helped restore investor confidence.
Sensex opened at 74,652.45 and moved higher steadily during the first half, reflecting a strong bullish undertone and follow-through buying; however, profit booking in the latter half of the session led to some cooling off from intraday highs, indicating supply emerging at elevated levels.
Sensex Support And Resistance Levels
From a technical standpoint, Hitesh said that Sensex continues to exhibit an improving price structure with formation of higher highs and higher lows, suggesting strengthening short-term momentum and a gradual recovery from the recent corrective phase.
Key technical levels indicate that the support is placed in the 74,500–74,700 zone, which is expected to act as a demand area on declines, while resistance is seen around 75,800–76,000, where upside may face supply and profit-booking pressure.
The market expert said that the near-term outlook of Sensex remains cautiously positive, with underlying strength intact. However, a sustained move above resistance is crucial for continuation of the uptrend, while any pullback towards support is likely to attract buying interest.
