Sensex, Nifty May Remain Volatile Next Week, Key Resistance & Support Levels To Decide Market Direction
· Free Press Journal
Mumbai: India’s benchmark stock indices, the BSE Sensex and Nifty 50, are likely to remain under pressure and witness volatile trading in the coming week, according to market experts.
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Analysts believe investors are still cautious due to global uncertainties and weak buying interest at higher levels. As a result, markets may continue to trade within a narrow range unless they cross important resistance levels.
MSCI Rebalancing Added to Volatility
Experts said the rebalancing of the MSCI Index likely increased market volatility during the final half-hour of trading on Friday.
This led to sharp fluctuations and contributed to the steep fall seen in the last hour of the session.
Stock Market Outlook For Next Week Looks Positive But Cautious, Nifty At 24,050 And Sensex At 77,550 With Oil, Earnings & US-Iran Talks InKey Levels to Watch for Sensex
From a technical perspective, analysts said the Sensex is still showing a negative trend.
Immediate resistance for the index is placed between 75,800 and 76,000. A stronger resistance zone lies in the 76,500–76,700 range, where selling pressure may increase.
On the downside, support is seen between 74,500 and 74,200. Experts say the index must stay above this zone to avoid further weakness.
If the Sensex falls decisively below these support levels, selling pressure could intensify and drag the market lower.
Nifty Faces Similar Challenges
The Nifty continues to trade below its 20-week and 50-week exponential moving averages (EMAs), indicating that bullish momentum remains weak.
However, analysts note that support from the broader long-term trendline is still intact.
Indian Markets Eye US-Iran Talks And Q4 Earnings, Nifty At 24,353 And Sensex At 78,493 Hold Key LevelsFor the coming week, immediate resistance levels are placed at 23,900 and 24,100. Key support levels are seen at 23,400 and 23,200.
A fall below 23,200 could trigger fresh selling, while sustained trading above 24,100 may improve market sentiment and support a recovery.
Sharp Fall in Friday’s Session
The market ended Friday on a weak note after heavy selling emerged during the final hour of trading.
Investors were concerned about uncertainty surrounding a possible US-Iran agreement and the impact of MSCI index rebalancing.
The 30-share Sensex dropped 1,092 points, or 1.44 percent, to close at 74,775.74 after falling nearly 1,300 points during the day.
The Nifty also declined sharply, losing 359 points, or 1.50 percent, to settle at 23,547.75 after touching an intraday low of 23,485.
Sensex Crashes 1,836 Points To 72,696, Nifty Slides 2.6% To 22,512 As US-Iran Tensions & Oil Spike Trigger Sell-OffWhat Investors Should Expect
Market experts believe the next week could remain challenging, with global developments and technical levels guiding investor sentiment. Traders are expected to closely watch support and resistance zones, as a breakout on either side could determine the market’s next major move.