Indian equity index formed a bullish trend as it successfully moved above its previous lower highs of the past four sessions. The index must not fall below 18281 zones for an upward trend towards 18400 and 18442 zones. On the downside, supports remain at 18181 and 18081 zones. The daily momentum indicator conveyed negative crossover, leading to a sell signal, hinting towards a possible consolidation in the market. The broader trading range is expected to be between 18,000 and 18,500 zones while an immediate range lies between 18,150 and 18,450 zones.
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In the five trading sessions prior to March 7, the Sensex rose by around 1.5%, or 1,134 points, closing at 74,333. The market ended on
March 8, 2025