NIFTY Commodities

Nifty remains below key short- and long-term moving averages, RSI below 40 mark, indicating persistent bearish momentum, Nifty needs to break and sustain above 23,000 for rally toward 23,500, Immediate support seen at 22,500–22,400, followed by 22,200–22,000 zone

* Nifty remains below key short- and long-term moving averages, RSI below 40 mark, indicating persistent bearish momentum
* Nifty needs to break and sustain above 23,000 for rally toward 23,500
* Immediate support seen at 22,500–22,400, followed by 22,200–22,000 zone

shorts/business/technical-view-bears-hold-power-vix-remains-above-25-despite-nifty-s-530-point-recovery-22-200-crucial-for-next-week-bank-nifty-s-50-000-at-risk-amid-iran-war

The Nifty 50 recovered 530 points from the day’s low, especially after a gap-down opening, and closed with moderate gains on April 2. However, the broader structure remains weak, and the depth of genuine conviction was lacking in the short-covering-led intraday recovery, as the VIX remained above the 25 zone. Meanwhile, the rupee gained for a fourth consecutive session to close at 93.16 against the US dollar, strengthening from its record low of 95.22 on March 30.

Caution also prevails ahead of the long weekend, particularly following Donald Trump’s threat to hit Iran extremely hard, signalling rising tensions in West Asia.

The index continues to trade below its key short- and long-term moving averages, while the RSI remains below the 40 mark, indicating persistent bearish momentum. Unless Nifty decisively breaks and sustains above the 22,950–23,000 zone, with strong follow-through buying toward 23,500—a crucial hurdle for further sharp recovery—the overall trend is likely to remain under pressure. However, immediate support is placed at 22,500–22,400, followed by the 22,200–22,000 zone, according to experts.

The Nifty 50 opened 300 points lower and briefly breached its prior swing low of 22,284 (seen on March 30), as well as the upward-sloping support trendline (adjoining June 2024 and April 2025 lows), to hit an intraday low of 22,183. However, the index managed to reclaim these levels by the close—a sign of buying interest at lower levels—and closed at 22,713, up 34 points.

It formed a long green candle with a minor lower shadow on the daily timeframe after opening sharply lower, indicating the formation of a bullish counterattack-type candlestick pattern at the lows.

“The bearish chart pattern of lower tops and bottoms continued on the daily chart, and Thursday’s low of 22,182 could now be considered a new lower bottom of the pattern,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the Nifty needs to sustain above the 23,000 level to consider this a bottom reversal pattern. Immediate support is placed at the 22,400 level.

Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, also agreed with Nagaraj, saying that any sustained move below 22,400 could result in Nifty extending its weakness towards 22,200, followed by 22,000 in the short term. “On the upside, the 22,950–23,000 zone is likely to act as strong resistance,” he said.

For the week, the benchmark Nifty 50 declined half a percent and formed a high wave-like candlestick pattern on the weekly timeframe, following a Doji formation in the previous two weeks, with the RSI at 27.88 and the MACD sustaining below both the zero line and the signal line. The index shed 2,860 points in the past six straight weeks. All this indicates continued weakness in the broader trend.

The weekly options data indicates a 22,000–23,000 range for the Nifty 50 in the short term, as a breakout on either side of the range could provide further direction to the market.

The maximum Put open interest was observed at the 22,000 strike, followed by the 22,500 and 22,200 strikes, while the 23,000 strike holds the maximum Call open interest, followed by the 23,500 and 23,200 strikes.

The maximum Put writing was seen at the 22,000, 22,200, and 22,300 strikes, while the 23,000, 23,200, and 22,200 strikes saw maximum Call writing.

Meanwhile, India VIX, the fear gauge, remained in an elevated zone and rose 2.04 percent to 25.52, keeping bulls cautious. However, it was down 4.79 percent for the week—declining for the first time in the last five consecutive weeks. Volatility needs to drop and sustain below the 18 level for bulls to enter a comfort zone.

Bank Nifty

The banking index also opened sharply lower and broke the psychological 50,000 mark intraday to touch a low of 49,955. It also came close to the upward-sloping support trendline (adjoining June 2024 and March 2025 lows), before bouncing back nearly 1,600 points from the said low.

The index closed 100 points higher at 51,549 and formed a long bullish candle, following a Doji-like candlestick formation in the previous session, indicating demand at lower levels. Bank Nifty needs to see follow-up buying next week and fill the bearish gap (51,625–52,200) of March 30 for a further uptrend toward 53,000.

The banking index has bounced from near the 78.6% Fibonacci retracement level rather than a clean reclaim, suggesting a relief pullback. The RSI shows signs of a bullish crossover from oversold levels, confirming positive divergence and supporting a short-term recovery outlook.

However, the broader trend remains weak; hence, a cautious stance is advised, said Vatsal Bhuva, Technical Analyst at LKP Securities.

On the upside, 52,500–53,000 may act as resistance, while immediate support is placed around 50,500, followed by 50,000, he said.

For the week, Bank Nifty shed 1.4 percent and extended its weakness for the sixth consecutive week, forming a Doji-like candlestick pattern for yet another week. The RSI fell to 29.51, and the MACD remained below both the reference and zero lines, with a long red bar in the histogram. All this indicates continued bearish momentum.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Technical View: Bears hold power; VIX remains above 25 despite Nifty’s 530-point recovery; 22,200 crucial for next week; Bank Nifty’s 50,000 at risk amid Iran war

Nifty tops 22,700 on IT strength and rupee appreciation, Rupee saw its biggest gain in 12 years, closing at 93.10, Sensex rose 185 points; broader markets ended lower

* Nifty tops 22,700 on IT strength and rupee appreciation
* Rupee saw its biggest gain in 12 years, closing at 93.10
* Sensex rose 185 points; broader markets ended lower

Indian markets closed higher on April 2, with Nifty above 22,700, boosted by IT stocks and a strong rupee. Despite early losses from global tensions, late buying reversed declines. Broader indices fell, and several stocks hit 52-week lows.

shorts/business/taking-stock-market-recovers-on-stronger-rupee-nifty-ends-above-22-700-amid-volatility

In a highly volatile session on April 2, the Indian market ended on a positive note, with the Nifty closing above 22,700, supported by IT stocks after the Indian rupee posted its biggest gain in more than 12 years.

The market had opened on a gap-down note amid escalating US–Iran tensions, rising crude oil prices, and weak global cues. However, persisted selling throughout the session, dragged the Nifty below 22,200 to an intraday low of 22,182.55. However, strong buying in the final hour helped the indices recover all losses and settle near the day’s high.

At close, the Sensex was up 185.23 points or 0.25 percent at 73,319.55, and the Nifty was up 33.70 points or 0.15 percent at 22,713.10.

Broader markets ended lower with the Nifty Midcap index falling 0.3 percent and Smallcap index declining 0.4 percent.

For the week, BSE Sensex shed 0.35 percent and Nifty50 declined 0.46 percent.

The market will remains shut on Friday (April 3) on account of Good Friday.

Also Read - Trump’s renewed Iran warning risks more volatility, analysts say

The rupee recorded its biggest gain in over 12 years after the Reserve Bank of India introduced additional measures to curb currency volatility. The INR strengthened by 173 paise to close at 93.10 against Monday’s closing level of 94.83.

Also Read - Changing colour of gold — yellow to black to white. Is sugar the new gold ?

HCL Technologies, Tech Mahindra, TCS, Tata Consumer, Wipro were among top gainers on the Nifty, while losers were Eternal, Asian Paints, Eicher Motors, Bajaj Auto and Sun Pharma.

Among sectors IT index rose 2.6%, realty up 1%, while auto, PSU Bank, oil &amp;amp; gas, pharma, consumer durables shed 1% each.

Also Read - India's defence exports hit record high of Rs 38,424 crore in FY26: 'Impressive success story'

More than 140 stocks touched their 52-week low on the BSE, including Sapphire Foods, Blue Star, Cholamandalam Investment and Finance Company, Devyani International, PG Electroplast, Godrej Properties, Lodha Developers, Tata Communications, KEC International, DLF, Havells India, Indian Hotels, ICICI Prudential, Bajaj Holdings, LIC India, Max Healthcare, JSW Infra, Kotak Mahindra Bank, SBI Card, Bajaj Finserv, among others. Click to View More

In stock-specific action, V-Mart Retail shares surged 10% after a 24% jump in Q4 revenue, while TVS Motor Company shares slipped 1% despite a 25% rise in March sales.

Force Motors gained 2% as March sales increased 13.5%, whereas Hero MotoCorp declined nearly 2% even though total sales for March rose 8.8%.

Among others, Astra Microwave Products climbed 6% after its joint venture secured orders worth Rs 250.58 crore, and Ola Electric jumped 9% after reducing the price of its Roadster 9.1 by Rs 60,000.

Additionally, Bansal Wire Industries advanced 7% following a 20% increase in Q4 sales.

Also Read - India’s manufacturing PMI falls to a 4-year low of 53.9 in March

New Listings

Amir Chand shares ended 10% lower at Rs 175.50 after listing at a 6% discount at Rs 200 compared to its IPO price on the NSE.

Powerica shares closed 4% higher at Rs 390 after listing at a discount of over 7% to its IPO price on the NSE.

Sai Parenterals shares ended with marginal gains at Rs 406.40 after listing at a premium of more than 2% over its IPO price of Rs 400 per share on the NSE.

Outlook for April 6

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After showing weakness from the highs on Wednesday, Nifty shifted into a roller-coaster ride of sharp up and down trended moves on Thursday and closed the day higher with sharp recovery note. After opening on a downside gap of 300 points, the market slipped into further weakness and formed a new swing low at 22182 levels in the early part of the session. Massive recovery has emerged from the day's low and Nifty finally closed higher amidst volatility towards the end. The opening downside gap has been filled completely.

A long green candle was formed on the daily chart after opening lower. Technically, this market action indicates a formation of bullish counter attack type candle pattern at the lows. The bearish chart pattern like lower tops and bottoms continued on the daily chart and Thursday's low of 22182 could now be considered as a new lower bottom of the pattern.

The buying seems to have started from near the support of 22200 levels and Nifty needs to sustain above the hurdle of 23000 levels to consider this as a bottom reversal pattern. Immediate support is placed at 22400 levels.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty witnessed a highly volatile session after opening with a gap down. On the lower end, the index found support around 22,200, leading to a sharp recovery. On the hourly chart, a positive divergence is visible on the RSI, suggesting improving momentum in the near term.

Besides, the index has moved above the 21 EMA on the hourly chart, indicating a rise in optimism. In the near term, the index may move towards 23,300. On the downside, support is placed at 22,500, below which the index may slip into a consolidation phase.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Taking Stock: Market recovers on stronger rupee; Nifty ends above 22,700 amid volatility

Indian market & Rupee see sharp recovery | Brent Oil up 5% | Global markets fall on geopolitical risk

Sensex and Nifty likely to open weak, tracking GIFT Nifty losses, Asian stocks slip, US equities rise amid Middle East tensions, FIIs net sellers, DIIs offset some selling with ₹7,000 crore buys

* Sensex and Nifty likely to open weak, tracking GIFT Nifty losses
* Asian stocks slip, US equities rise amid Middle East tensions
* FIIs net sellers, DIIs offset some selling with ₹7,000 crore buys

Indian equity benchmarks may open weak on April 2, tracking losses in GIFT Nifty. Global markets saw mixed moves: Wall Street rose, Asian stocks slipped, oil gained, gold fell, and FIIs remained net sellers, partly offset by DIIs' purchases.

shorts/business/first-tick-top-global-cues-to-watch-in-today-s-trade-127

Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to see a weak sytart on April 2, tracking losses in GIFT Nifty, which was trading lower around the 22,426 level.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

The Indian equity market snapped its two-day losing streak and ended the first session of the new series on a strong note on April 1, supported by signs of de-escalation in the ongoing tensions between the US and Iran.

At close, the Sensex was up 1,186.77 points or 1.65 percent at 73,134.32, and the Nifty was up 348 points or 1.56 percent at 22,679.40.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

GIFT Nifty was trading lower at the 22,426 mark, indicating a weak start for Indian equity indices.

Asian Equities (Slip)

Asian stocks extended their losses after President Donald Trump said the US would hit Iran extremely hard over the next two to three weeks, damping hopes for a swift resolution to the conflict.



US Equities (Up)

Wall Street ended higher on Wednesday, with strong gains in Alphabet and other heavyweights, after U.S. President Donald Trump suggested ‌an end to the Middle East conflict could be close.

The S&amp;amp;P 500 climbed 0.72% to end the session at 6,575.32 points. The Nasdaq gained 1.16% to 21,840.95 points, while the Dow Jones Industrial Average rose 0.48% to 46,565.74 points.



Dollar Index (Slips)

A dollar declined against the other major currencies in the early trade on Thursday.



US Bond Yield (Up)

Yields on the 10-year U.S. Treasury and 2-year U.S. Treasury rose 3 basis points and 2 basis points to 4.35% and 3.82%, respectively.



Asian Currencies (Down)

Among Asian currencies, except the Indonesian Rupiah and Malaysian Ringgit, all other currencies were trading lower.



Crude (Gains)

Oil prices climbed more than $4 on Thursday after President Donald Trump said the United States would continue to attack Iran, including energy and oil targets over the next few weeks, and did not commit to a specific timeline to end the war.



Gold (Down)

Gold fell after US President Donald Trump said the US would hit Iran “extremely hard” over the next two to three weeks.



Fund Flow Action

Foreign Institutional Investors (FIIs) began the new financial year on a weak note, remaining net sellers as they offloaded equities worth ₹8,331 crore on April 1. However, the selling pressure was partly offset by Domestic Institutional Investors (DIIs), who purchased equities worth over ₹7,000 crore.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Tick: Top global cues to watch in today’s trade

HCL Technologies, Tech Mahindra, TCS, Tata Consumer, Wipro were among top gainers on the Nifty, while losers were Eternal, Asian Paints, Eicher Motors, Bajaj Auto and Sun Pharma. Nifty Midcap index fell 0.3 percent and Smallcap index fell 0.4 percent. Among sectors IT index rose 2.6%, realty up 1%, while auto, PSU Bank, oil &amp;amp; gas, pharma, consumer durables shed 1% each.

Closing Bell: Stronger rupee lifts markets, Sensex up 185 pts, Nifty above 22,700 in volatile trade

12 out of 15 years NIFTY COMMODITIES has given positive returns in April.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	9,338.08	9,419.42	9,478.93	9,278.57	9,197.23	9,137.72	9,056.38
Fibonacci	9,332.37	9,365.61	9,419.42	9,278.57	9,224.76	9,191.52	9,137.72
Camarilla	9,269.66	9,282.57	9,295.48	9,278.57	9,243.84	9,230.93	9,218.02

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