Sensex key support for the week stands at 76,200; Nifty at 23,150

On the upside, the Sensex needs to trade consistently above 78,150, and the Nifty above 23,600 for continuation of the pullback rally; suggests the technical charts.

Last week, in a six-day trading week on account of the Budget 2025, equity benchmark indices ended with gains in excess of 1.5 per cent as they bounced back from oversold territory. In doing so, the BSE Sensex and the NSE Nifty gained around 3 per cent each from their respective recent lows at 75,267 and 22,787.  In the week ahead, as select stocks react to Budget-related proposals, the broader market is likely to swing in line with global peers as Donald Trump unleashes a tariff war. The US President over the weekend imposed a 25 per cent tariff on goods imported from Canada, Mexico; and a 10 per cent duty on imports from China. According to reports, these countries plan retaliatory tariffs on the US.  In the latter half of the week, the focus will shift on the RBI Policy. The Central Banker is expected cut rates up to 25 basis points this week.  This morning, markets in the Asia-Pacific region were seen quoting losses up to 2 per cent. GIFT Nifty also indicated a likely negative start for the Indian stock market.    Meanwhile, here's how the BSE Sensex and NSE Nifty could trade this week.  BSE Sensex  Current Level: 77,506  Upside Potential: 4.7%  Downside Risk: 2.1%  Support: 76,885; 76,500; 76,200; 75,900  Resistance: 78,150; 78,500; 78,820; 79,200  In the scenario, wherein the Sensex could witness some downward pressure, the BSE benchmark is likely to seek support around 76,200 and 75,900 levels in the week ahead. Near support for the index exists at 76,885 and 76,500 levels.  On the upside, the Sensex needs to break and trade consistently above 78,150 levels for a further recovery. As such, the index can potentially charge towards 80,000-mark, above which a test of 81,150 seems possible. Resistance for the week ahead is  placed at 78,500, 78,820 and 79,200 levels.    Nifty  Current Level: 23,482  Upside Potential: 3.3%  Downside Risk: 2.1%  Support: 23,268; 23,150  Resistance: 23,600; 23,800; 24,000  The NSE Nifty has been quoting above its 20-DMA (Daily Moving Average) for the last two trading sessions, but at the same time seen facing resistance around its super trend line on the daily chart. As such, near resistance for the Nifty exists at 23,600, and near support is seen at 23,268. The overall near-term bias is likely to remain cautiously positive as long as the Nifty holds above 23,150 levels; below which the index could drift back to 23,000 levels.  On the upside, the NSE benchmark needs to break and trade consistently above 23,600, for a likely rally to emerge towards 24,250 levels. Interim resistance for the Nifty can be anticipated around 23,800 and 24,000 levels.