Sensex Down By 853 Points
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, April 23, 2026: Today, the benchmark indices continued profit booking at higher levels. The Nifty ended 205 points lower, while the Sensex was down by 853 points. Among sectors, Auto and PSU Bank indices lost the most, shedding over 2 percent, whereas despite weak market sentiment, Pharma and Healthcare indices outperformed, rallying over 2 percent. Technically, after a gap-down open, the market held the negative momentum throughout the day. On intraday charts, it is forming a continuation of the correction, and on daily charts, a bearish candle has been formed, which is largely negative.
For day traders, the 50-day SMA (Simple Moving Average) or 24,300/78200 would act as an immediate resistance zone. Below this level, the correction wave is likely to continue. On the downside, the index could slip to 24,000/77000. Further downward movement may continue, potentially dragging the index to 23,900/76700. On the upside, a move above 24,300/78200 could lead to a bounce back towards 24,450–24,500/78500-78800.
