New Delhi

Indian benchmark indices ended on a strong note on Wednesday, with the BSE Sensex and NSE Nifty 50 recovering from an early cautious phase to close near the day’s highs.

The Sensex rose 633.29 points (0.83%) to settle at 76,704.13, while the Nifty 50 gained 196.65 points (0.83%) to close at 23,777.80.

According to Shrikant Chouhan of Kotak Securities, the market maintained positive momentum throughout the session, supported by buying interest across most sectoral indices. The media sector emerged as the top performer, rallying over 3 per cent.

Technically, Chouhan noted that charts indicate continuation of the uptrend, with a bullish formation suggesting further upside from current levels. However, he cautioned that the market may witness some profit booking after completing one leg of the pullback rally.

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For the near term, key support levels are seen at 23,600 and 76,000, while a drop below 23,500/75,700 could weaken sentiment. On the upside, resistance is expected in the 23,950–24,000 range for Nifty and 77,000–77,300 for Sensex.

He advised traders to adopt a strategy of buying on intraday dips and booking profits on rallies, while remaining cautious of potential reversals if key support levels are breached.