Sensex Outlook for 16-Oct-2026 looks Bullish

The technical outlook for the Sensex on Friday, October 16, 2026, is cautiously positive, following a massive 1,533.72 point +2.11% rally in the previous session to close at 74,315.61. The Daily MACD Histogram and Hourly MACD Histogram is above zero indicating a bullish trend. The Daily RSI 14 has crossed above midline 50 levels and is at 53.60 and Hourly RSI 14 is above 70 indicating a bullish trend. Thus the overall trend of Sensex looks bullish, and the buyers are in control over the markets. Buy on dips would be the best strategy to deploy for today’s market considering the overall trend of Sensex. We may expect a change in trend only if the price sustains below the support level. Can Initiate selling only if prices continue to sustain below the support level. I have provided Sensex Spot resistance and support levels which would help you learn in taking informed trading decisions using these levels and understand how support and resistance levels work in financial markets. Sensex Spot Resistance 1 - 74500 Resistance 2 - 74615 Support 1 - 73990 Support 2 - 73790 Happy Learning, Happy Trading and have a wonderful day Top Gainers : TECHM, ICICIBANK, RELIANCE. Top Losers : NESTLE, HINDUNILVR