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Below the Quote on Sensex 24th September 2026 by Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited

"Sensex witnessed a sharp sell-off on Thursday, closing at 73,580.54, down 1,247.71 points (-1.67%). The index opened at 74,272.40, touched a high of 74,362.29, and slipped to an intraday low of 73,563.92. The steep decline from the opening levels reflected strong selling pressure throughout the session and marked a decisive deterioration in the short-term market structure.

Price action remained firmly negative as the Sensex broke below the 74,000 mark and continued to slide towards the day’s low. The immediate support is placed at 73,000–73,250, while 73,850–74,000 is likely to act as the key resistance zone after the breakdown. The broader trading range stands at 73,000–74,000, with the overall bias turning sideways to bearish.

Across the sectoral space, there were no major gainers, as all key BSE sectors closed in negative territory. Healthcare, Energy and Commodities relatively outperformed compared with other segments. On the downside, MidSmall Private Banks, Housing Finance, Insurance, Bankex, Metal and Auto were among the major laggards, highlighting broad-based selling pressure across financial and cyclical sectors.

Technically, the Sensex opened with a 555-point gap-down and witnessed a sharp decline, breaking below the crucial 74,000 level before closing with a strong bearish candle. The index also breached its previous support zone, weakening the overall price structure and keeping the near-term setup cautious. RSI at 30.86 remains below its RSI-based MA of 32.78, indicating weak momentum and a near-oversold condition. A sustained recovery above the broken support zone will be important to stabilise the trend.

Options data shows the highest Put OI on the lower side at 73,400, followed by 73,500, where option writers are active and may provide immediate support. On the higher side, 73,700 Call has the highest OI, with around 2.35 lakh contracts, making it a significant near-term resistance level. The PCR at 0.72 indicates a cautious derivatives setup and relatively stronger Call positioning. A shift in OI concentration around 73,400–73,700 could influence the next directional move.

With the Sensex breaking below its earlier support and closing near the day’s low, the short-term outlook remains cautious with a sideways-to-bearish bias. The 73,000–73,250 zone will be crucial for preventing further deterioration, while the 73,850–74,000 region is expected to act as an immediate hurdle. A sustained move above 74,000 could provide some relief and improve the near-term structure, whereas a decisive break below 73,000 may extend the prevailing weakness."

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