Sensex Prediction for April 21: Short-term market texture remains bullish

Market Recap:

D-Street’s bull run stayed strong last week, with the Sensex rallying 1,500 points (up 1.96%), confidently closing above the 78,500 mark. After a massive 3,400-point surge over the past week and positive global cues — thanks to the US announcing a 90-day tariff pause — domestic indices continued to soar.

The Nifty Bank index also climbed over 2% on Thursday, nearing its 52-week high at 54,407.20.

Technical Outlook for Monday, April 21

Kotak Securities’ Amol Athawale says the Sensex has formed a bullish candle on the weekly chart, maintaining an uptrend continuation formation on daily and intraday charts — a sign of further upward movement.

Short-term market texture remains bullish, though some range-bound activity may occur due to temporary overbought conditions.

Key Support & Resistance Levels

Anand Rathi Stock Brokers’ Jigar Patel highlights:

Resistance: 78,800

Support: 78,000

A breakout above 78,800 could open the door for a move towards 79,600, while a drop below 78,000 might lead to a correction towards 77,500.

Athawale adds:

Stronger support zones: 77,400 and 76,900

If the index falls below 76,900 — market sentiment may shift

Camarilla Pivot Outlook

Patel suggests closely watching the 78,000–79,000 zone as a critical decision area for Monday.

What’s Ahead?

Volatility is expected to stay high amid:

Tariff-related developments

Q4 earnings season updates

Bajaj Broking Research advises using any dips as buying opportunities, with Nifty’s key support seen at 23,200.

Disclaimer: This report is for information only. Please consult a financial advisor before making investment decisions.