Stock Market Closing Today, July 24: Sensex falls for 5th day, closes 332 pts lower; Nifty below 23,800; Nifty Auto down 1.10%

Falling for the 5th straight day, BSE Sensex plunged 331.62 points or 0.43 per cent to end at 76,059.77 while NSE Nifty50 declined 102.15 points or 0.43 per cent to close at 23,767.45.

Riyank Arora, Associate Vice President – HNI & Derivatives, Hedged.in, said, "Indian equity markets ended today’s session on a positive note, recovering from lower levels as buying interest emerged in frontline stocks. Improved sentiment during the latter half of the session helped benchmark indices trim intraday losses and close with a constructive undertone, indicating that bulls are gradually regaining control."

Nifty 50 closed at 23,767. Despite recent volatility, the index witnessed a strong recovery from lower levels, forming a bullish price structure on the charts. As long as Nifty sustains above the 23,650–23,700 support zone, the broader trend remains positive. Immediate resistance is placed around 23,900–24,000, and a decisive move above this zone could pave the way for a fresh upmove towards 24,150–24,250, Arora stated

BSE Sensex settled at 76,052. The index also rebounded sharply from intraday lows, reflecting buying interest at lower levels. The overall chart structure remains constructive, with immediate support seen around 75,800–75,600, while resistance is placed near 76,400–76,700. A sustained move above the resistance zone could strengthen bullish momentum further, he added.

Overall, Arora stated, "The sharp recovery from lower levels indicates that buyers are active near key support zones, keeping the broader market structure intact. The technical setup continues to remain bullish, and any short-term dips can be viewed as buying opportunities in quality stocks. Traders may maintain a buy-on-dips approach with disciplined risk management, while a breakout above immediate resistance levels could trigger the next leg of the rally."