Sensex, Nifty outlook for tomorrow: Will stock market sustain momentum?
Sensex outlook: The intraday market texture is upward but, for day traders, it would be ideal to buy on intraday dips and sell on rallies, said Shrikant Chouhan of Kotak Securities.
- Apr 15, 2026,
- Updated Apr 15, 2026 5:10 PM IST
Benchmark stock indices Sensex and Nifty climbed on Wednesday, forming small bullish candles on the daily charts, post gap-up opening. Analysts said buying interest persists and that the market is likely to digest recent gains, before the next directional move.
Sensex outlook Shrikant Chouhan, Head Equity Research at Kotak Securities said the index opened with a gap up and maintained positive momentum throughout the day.
"Technically, after a gap-up opening, the entire day witnessed range-bound activity. On daily charts, it has formed a small bullish candle, while on intraday charts, it is holding a higher bottom formation, which is largely positive. We are of the view that the intraday market texture is upward but, for day traders, it would be ideal to buy on intraday dips and sell on rallies," Chauhan said.
On the downside, he said 77,500 and 77,300 would act as key support zones, while 78,500-787,00 could serve as crucial resistance levels for the bulls.
"However, below 77,300, the sentiment could change. In that case, traders may prefer to exit their long positions," he said.
Nifty outlook After the formation of series of lower tops and bottoms on the daily chart in last month, Nifty seems to have formed a new higher bottom on Monday at 23,555 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
This market action, Shetti said, indicates significant reversal of trend on the upside.
"The huge opening upside gap of 8th April remains partially filled after five sessions of its formation. This is positive indication. The underlying short-term trend of Nifty continues to be positive. On the way up further, Nifty could find overhead hurdles around 24,500 and 24,800 levels in the near term. However, immediate support is placed at 24,000-23,900 levels," Shetti said.
Rupak De, Senior Technical Analyst at LKP Securities said Nifty found support at the 20 EMA on the daily chart on Monday, leading to a sharp recovery on Wednesday. The index, De said, has closed above the 50 EMA for the first time since February 23, indicating improving market sentiment, supported by softening crude oil prices. The RSI is in a bullish crossover and continues to rise, signaling strengthening momentum.
"However, the index has encountered resistance near the 50 per cent retracement level of the previous decline from 26,341 to 22,182. Going forward, the 24,250–24,300 zone is likely to act as a crucial resistance band. A decisive move above this range could trigger a rally towards 24,750–24,800. On the other hand, failure to break above 24,300 convincingly may lead to renewed selling pressure in the market," De said.
Benchmark stock indices Sensex and Nifty climbed on Wednesday, forming small bullish candles on the daily charts, post gap-up opening. Analysts said buying interest persists and that the market is likely to digest recent gains, before the next directional move.
Sensex outlook Shrikant Chouhan, Head Equity Research at Kotak Securities said the index opened with a gap up and maintained positive momentum throughout the day.
"Technically, after a gap-up opening, the entire day witnessed range-bound activity. On daily charts, it has formed a small bullish candle, while on intraday charts, it is holding a higher bottom formation, which is largely positive. We are of the view that the intraday market texture is upward but, for day traders, it would be ideal to buy on intraday dips and sell on rallies," Chauhan said.
On the downside, he said 77,500 and 77,300 would act as key support zones, while 78,500-787,00 could serve as crucial resistance levels for the bulls.
"However, below 77,300, the sentiment could change. In that case, traders may prefer to exit their long positions," he said.
Nifty outlook After the formation of series of lower tops and bottoms on the daily chart in last month, Nifty seems to have formed a new higher bottom on Monday at 23,555 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
This market action, Shetti said, indicates significant reversal of trend on the upside.
"The huge opening upside gap of 8th April remains partially filled after five sessions of its formation. This is positive indication. The underlying short-term trend of Nifty continues to be positive. On the way up further, Nifty could find overhead hurdles around 24,500 and 24,800 levels in the near term. However, immediate support is placed at 24,000-23,900 levels," Shetti said.
Rupak De, Senior Technical Analyst at LKP Securities said Nifty found support at the 20 EMA on the daily chart on Monday, leading to a sharp recovery on Wednesday. The index, De said, has closed above the 50 EMA for the first time since February 23, indicating improving market sentiment, supported by softening crude oil prices. The RSI is in a bullish crossover and continues to rise, signaling strengthening momentum.
"However, the index has encountered resistance near the 50 per cent retracement level of the previous decline from 26,341 to 22,182. Going forward, the 24,250–24,300 zone is likely to act as a crucial resistance band. A decisive move above this range could trigger a rally towards 24,750–24,800. On the other hand, failure to break above 24,300 convincingly may lead to renewed selling pressure in the market," De said.