Mumbai, August 9, 2026 (Yes Punjab News)
Indian equity markets could extend their recent gains if key resistance levels are decisively breached, with analysts placing the near-term targets at 79,300-79,700 for the Sensex and around 25,200 for the Nifty.
Analysts, however, cautioned that a break below important support levels could trigger fresh profit booking and selling pressure.
The Sensex has retained a positive technical structure after closing comfortably above the 78,000 mark. Market watchers identified the 78,800-79,000 zone as the immediate resistance area for the index in the coming sessions.
On the downside, 77,300-77,200 is seen as the immediate support zone, followed by the psychologically important 77,000 level. Analysts said holding above these levels would be crucial for sustaining the improving technical setup, while a decisive fall below 77,000 could lead to renewed selling.
The Nifty has also maintained its broader bullish structure despite heightened volatility and intermittent profit booking during the week. Analysts noted that the index continues to trade above all key weekly exponential moving averages, supporting the medium- to long-term positive trend.
However, the index remains in a consolidation phase and is yet to deliver a decisive breakout. The 24,900-25,000 range is expected to act as immediate resistance, while 24,100-24,200 remains the key support zone.
Indian equities ended the week with moderate gains as investors assessed the implementation of the new Closing Auction Session (CAS) framework for futures and options stocks, the Reserve Bank of India’s monetary policy decision and continuing geopolitical uncertainties.
For the week, the Sensex rose 0.52 per cent to close at 78,499.17, while the Nifty gained 0.77 per cent to settle at 24,570.65.
The broader market continued to outperform the benchmark indices. The midcap index gained 0.81 per cent, while the smallcap index advanced 2.61 per cent, indicating continued stock-specific buying interest.=
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