Sensex and Nifty 50 were expected to open flat on Wednesday, mirroring mixed global cues ahead of US President Donald Trump’s anticipated reciprocal tariff announcement. However, reports suggest that Nifty 50 opened today's session 3,084.75 points below its record high of 26,277.35 and Asian markets were edged lower in early trade today.
On Tuesday, the Indian stock market saw a sharp downturn. Sensex and Nifty 50 registered significant losses exceeding 1.5 per cent. While Sensex plummeted by 1,390.41 points (1.80 per cent) to settle at 76,024.51, the Nifty 50 dropped 353.65 points (1.50 per cent) to close at 23,165.70.
Sensex Outlook
The Sensex closed at 76,025 on Tuesday, forming a bearish candle on the daily charts. A continuation of correction patterns in intraday trading suggests further market weakness.
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According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, 75,800 is a crucial support level for the index. If Sensex remains above this level, a recovery rally toward 76,500–76,650 is possible. However, if it falls below 75,800, selling pressure may intensify, pushing the index to 75,500–75,300 or even its 50-day Simple Moving Average (SMA). Given the volatility, traders are advised to adopt level-based strategies, per reports.
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