Sensex, Bankex analysis for 16/10/2026(Market analysis)

1. BSE SensexCurrent Market Price (CMP): 74,315 Key Pivot Level / Line in the Sand: 72,900 Trend & Sentiment Analysis Bullish Bias Above Pivot: The current price (74,315) is sitting 1,415 points above the critical pivot level of 72,900. This indicates that the broader underlying trend remains strong and bullish. Exit Short / Go Long: Because the index is comfortably trading above the 72,900 mark, short positions are recommended to be closed. Long positions should be initiated or maintained as long as prices sustain above this threshold. 2. BSE BankexCurrent Market Price (CMP): 62,899 Key Pivot Level / Line in the Sand: 62,000 Trend & Sentiment AnalysisBullish Momentum Above Pivot: The current price (62,899) is 899 points above the crucial psychological and technical support zone of 62,000. Exit Short / Go Long: Similar to the Sensex setup, the index has cleared overhead resistance/pivots. Traders holding short trades are advised to exit, as the bias favours buying on dips or continuing long positions above 62,000. F&O top looser was :