Updated Mar 9, 2025 07:32 is
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Sensex prediction for 10 March, Monday: ‘Reversal formation on…’ – Support, resistance levels, trading guide
The 30-share BSE Sensex ended at 74,300 levels while the NSE Nifty 50 index settled above 22,500. In the last week, the benchmark indices bounced back sharply, with the Nifty ending 1.93 per cent higher and the Sensex rising by 1130 points. Among sectors, all the major sectoral indices traded in positive territory.
During the week, both the indices slipped below the crucial level of 22,000 and 72,800. However, they bounced back sharply. “Technically, it has formed a reversal formation on both daily and weekly charts, supporting a further uptrend from the current levels,” said Kotak Securities’ Amol Athawale.
Sensex Prediction for Tomorrow, 10 March
Will the coming trading session bring some cheer for the investors or again decline? Market expert Athawale explained that there is a long bullish candle on the weekly charts and an uptrend continuation formation on intraday charts, which support the uptrend.
“A breakout above 74,600 could trigger a rally, while a breakdown below 74,000 may lead to a pullback toward 73,800,” shared Anand Rathi Stock Brokers’ Jigar Patel.
Sensex Support and Resistance Levels
Patel noted that the key levels for Monday, March 10, are resistance at 74,600 while support at 74,000. “Traders should wait for confirmation before entering positions. Price action around these levels will be key in determining market direction,” he added.
Moreover, 74,000 and 73,700 would be key support zones for positional traders, according to Athawale. “If the market succeeds in trading above these levels, it could bounce back to the 20-day SMA or 75,200. Further upside may continue, potentially lifting the indices up to 75,700.”
On the flip side, if the market falls below 73,700, the sentiment could change, and traders may prefer to exit their long positions, the market expert detailed.
Sustaining this rally depends on earnings recovery and broader market sentiment. While large caps appear better placed, the broader market may consolidate unless earnings growth picks up, said Capitalmind Research’s Krishna Appala. “Market sentiment remains fragile, and further upside may require stronger fundamental support to sustain.”
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