Sensex Prediction For Next Week: Indian stock market closed nearly 0.5 per cent higher on Friday (March 20) due to heavy buying in PSU bank, IT and metal counters. The BSE Sensex climbed 325.72 points or 0.44 per cent to settle at 74,532.96 in a highly volatile session. During the day, it jumped 1,079.15 points, or 1.45 per cent, to 75,286.39.

The 50-share NSE Nifty edged higher by 112.35 points, or 0.49 per cent, to end at 23,114.50. Intra-day, it jumped 343 points, or 1.49 per cent, to 23,345.15.

From the 30-Sensex firms, Tata Steel, Tech Mahindra, Infosys, Trent, Reliance Industries, Titan, NTPC and Sun Pharma were among the major gainers. HDFC Bank, Bharat Electronics, Kotak Mahindra Bank and ICICI Bank were among the laggards.

Hitesh Tailor, Technical Research Analyst at Choice Equity Broking, said that market breadth was mixed to slightly positive, indicating selective buying rather than a broad-based rally. PSU Banking, IT and Pharma sectors witnessed upside momentum, providing key support to the index, while other segments remained relatively muted and range-bound.

From a technical perspective, the index has shown initial signs of stabilisation after the sharp sell-off, but momentum remains limited and requires follow-through strength for confirmation.

Sensex Support And Resistance Levels

On the technical front, the index is showing signs of consolidation near lower levels, indicating a cautious undertone with scope for range-bound movement.

The 73,900–74,000 band acts as an immediate demand zone where dip-buying interest may emerge on any pullback, while the 75,000–75,200 range stands as the immediate resistance hurdle, where upside is likely to face supply pressure and profit booking.

Sensex Bias: With a modest recovery and close above immediate levels, the near-term outlook remains cautiously neutral, and a sustained upside follow-through will be key to improving sentiment, while failure to hold current stability may keep volatility elevated.