On Monday, the Sensex rose 776.01 points, a 1.02% gain, to close at 76,835.78. It had a midday rally of 841.74 points, reaching 76,901.51 before the close. The gain snapped a five‑session losing streak.
The Nifty also climbed, adding 228.50 points or 0.96% to finish at 23,995.95. This lift ended its five‑day decline, which had seen the index fall 2.7% in the same period.
Both indices had been on a downward trend for five sessions, with the Sensex down 2.3% and the Nifty down 2.7% overall.
Nagaraj Shetti, senior technical research analyst at HDFC Securities, said the Nifty must stay above 24,100 in the coming sessions to keep the recovery alive.
He added that holding above 24,100 could open a target of 24,500, while support would be near 23,800.
Ajit Mishra, SVP research at Religare Broking, noted the Nifty defended a key trendline near 23,600 but remained below the resistance band of 24,000‑24,150, which aligns with its 20‑ and 100‑day DEMA.
A clear close above 24,150 could push the index toward 24,400, whereas the 23,600‑23,800 area would act as support if profit‑taking occurs.
Sudeep Shah from SBI Securities said the 100‑day EMA zone of 24,120‑24,150 is a hurdle; breaking above it could trigger a rally to 24,300. The 23,900‑23,880 band remains a vital support.
Global markets eased after Brent crude fell 9.3% to $88 a barrel, following Iran’s announcement that it would stop attacks if the United States did the same.
The oil price decline lifted sentiment across markets, contributing to the Indian indices’ rebound.