Sensex Prediction for 26-07-2024: Support & Resistance Levels

Find a Trade in the Choppy Zones
Today, the Sensex experienced a volatile session, opening slightly lower and fluctuating throughout the day. The index eventually closed with a marginal decline of 0.13%, indicating a lack of clear direction in the market. The first support level is at 79,700, followed by 79,450, with a stronger support at 79,100. On the upside, the initial resistance is at 80,250 and a stronger resistance at 80,600. While some sectors witnessed gains, others faced pressure, leading to a mixed performance among constituent stocks.
The Sensex is likely to exhibit a cautious trend tomorrow. Recent market movements suggest potential consolidation. While there might be opportunities for short-term gains, investors are advised to exercise prudence.
The Market is making inverse head and shoulder pattern on the defined time frame, which might lead to a breakout upto 80,350 to 80,500.
Sensex Support & Resistance Levels for Tomorrow:
Support Levels:
The first support level is at 79,700 followed by 79,450 and a stronger support at 79,100.
Resistance Levels:
On the upside, the initial resistance is at 80,250 and strong resistance at 80,600.
Technical Indicators for Sensex Prediction:
Max Pain: 80,000
PCR (Put-Call Ratio): 0.91 Neutral
IV (Implied Volatility): 14.15 as of the closing on 25-07-2024.
Stay tuned for more updates on Sensex prediction for tomorrow to navigate the volatile market conditions effectively.
Disclosure: I am not SEBI registered analyst. The information provided is for educational purposes only and should not be considered financial advice. Consult a qualified financial advisor before making any investment decisions. Social media shares on any platform are not endorsed or supported by the publisher.