NIFTY Metal

Appearance of a triple divergence, oversold conditions signal possibility of  rebound, Nifty expected to face resistance at 22,700–22,800, followed by 23,000–23,500, 22,280 can act as immediate key support

* Appearance of a triple divergence, oversold conditions signal possibility of  rebound
* Nifty expected to face resistance at 22,700–22,800, followed by 23,000–23,500
* 22,280 can act as immediate key support

shorts/business/trading-plan-will-iran-driven-de-escalation-hopes-help-nifty-50-bank-nifty-recoup-monday-s-losses-on-first-day-of-april-series

After witnessing a nightmare over the last two sessions, during which the benchmark Nifty 50 crashed nearly 1,000 points, a rebound may be seen at the beginning of the April series following Tehran's willingness to end the war with the United States, subject to guarantees for the security and interests of the Iranian people, along with a correction in oil prices. Technically, the appearance of a triple divergence—a potential trend reversal pattern—and oversold conditions also signal the possibility of a rebound. Hence, if that comes true, the Nifty 50 is expected to face resistance at 22,700–22,800, followed by 23,000–23,500, which will be a crucial hurdle, as sustaining above it can boost bullish confidence. However, 22,280 (near the recent day’s low) can act as immediate key support, below which selling pressure may widen. Meanwhile, the Bank Nifty may face a hurdle at 52,000–52,300, followed by 53,000, while support is placed at 50,000, experts said.

On March 30, the Nifty 50 plummeted 488 points (2.14 percent) to 22,331, while the Bank Nifty tanked 1,999 points (3.82 percent) to 50,275. Bears maintained dominance over market breadth, with about 2,635 shares declining compared to 429 advancing shares on the NSE.

Nifty Outlook and Strategy

Aditya Thukral, Founder &amp;amp; Analyst of AT Research &amp;amp; Risk Managers

Nifty 50 witnessed another bearish day, breaking the previous swing low and exhibiting a triple divergence pattern, where prices made lower lows while the 14-day RSI made higher lows. This pattern is a potential trend reversal signal; however, reversal will only occur once 23,465.35—the recent swing high—is taken out.

Owing to high volatility, this swing high (23,465.35), which is the positive trend reversal level, is around 5 percent away from current levels. The 9-day EMA, which has been acting as resistance for days, is placed around 22,880. An established downtrend with a lower high–lower low price structure remains intact, with prices sustaining below all major exponential moving averages on the daily chart—typical of bearish market conditions, especially when trading near lows.

There will, however, be phases when counter-trend moves play out, particularly when sentiment turns extremely bearish, which is the case in the current scenario. These factors point towards the potential end of the current leg of the fall, and any move above 22,500 will be seen as a buying opportunity, or the level above which bears may start feeling nervous.

As far as positioning in the derivatives segment is concerned, both CE and PE option writing has been observed, indicating expectations of a fall in volatility. However, Call option writers may start unwinding their positions once the index sustains above 22,500, resulting in short covering.

Key Resistance: 22,500, 22,700

Key Support: 22,280, 22,130

Strategy: Buy Nifty Futures only above 22,600, with a stop-loss of 22,500, targeting 22,800.

Ashish Kyal, Founder and CEO of Waves Strategy Advisors

Over the past seven consecutive weeks, nearly every candle has closed below the previous week’s low, clearly reflecting a sustained bearish trend in Nifty. At the same time, crude oil prices continue to climb amid ongoing tensions between the United States and Iran, while persistent depreciation in the rupee adds to the pressure. Delays in peace talks have further heightened nervousness among traders, with India VIX rising over 4 percent in the previous session, indicating increased geopolitical uncertainty.

In the previous week, Nifty showed a minor pullback towards the mid Bollinger Bands on the daily chart but reversed sharply on the downside. In the latest session, the index broke down from a broader upward-sloping trendline that started in December 2023, signalling rising concern in the market. For confirmation, a daily close below 22,280 is now required.

Key Resistance: 23,180

Key Support: 21,980

Strategy: One can use every pullback as a shorting opportunity, with the next crucial support zone near the 21,980–22,070 range. On the upside, a break above 23,180 is required for some breather.

Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan

A brief recovery in the Nifty index last week fizzled out at the gap zone formed around 23,400–23,600 levels. This week, the index has broken the major support at 22,470, opening the possibility of drifting lower to 21,750–21,250 levels in the coming sessions. On the upside, 22,800–23,000 will act as a significant resistance zone.

India VIX is forming higher highs, and the Nifty trading below key daily and hourly averages indicates that the short-term trend remains bearish, with no signs of reversal yet. Pullbacks should be used as selling opportunities.

Key Resistance: 22,800, 23,000

Key Support: 22,270, 21,750

Strategy: Sell Nifty Futures between 22,470–22,600. Place a stop-loss at 23,000, with downside targets of 21,750–21,250.

Bank Nifty - Outlook and Positioning

Aditya Thukral, Founder &amp;amp; Analyst of AT Research &amp;amp; Risk Managers

The banking index weakened further despite a couple of recovery attempts, which failed. The 9-day EMA has been acting as resistance over the past few days, and stability will only be seen once the index sustains above this level. The trend remains downward, with the formation of lower lows and lower highs, and prices continue to trade below all major exponential moving averages.

However, similar to the Nifty 50, a triple divergence pattern is visible—a potential reversal signal—with prices making lower lows while the 14-day RSI forms higher lows. The trend reversal level stands at 54,146, which is around 8 percent higher than current levels. Nevertheless, a bounce is expected in the banking index, if not a complete reversal.

Due to lower participation, there is limited clarity from derivatives positioning. However, available data suggests traders are anticipating a drop in volatility. Notably, 51,000 Call option writers may start feeling nervous once the index sustains above 51,000.

Key Resistance: 51,000, 51,700

Key Support: 50,000, 49,500

Strategy: Buy Bank Nifty Futures only above 51,320, with a stop-loss of 51,020, targeting 51,920.

Ashish Kyal, Founder and CEO of Waves Strategy Advisors

Bank Nifty has continued to drift lower with each passing session, closing below the 51,000 mark for the first time since April 2025. During this decline, both private and PSU banks have contributed equally, each plunging more than 18 percent from the top formed in February 2026.

The index has now retraced nearly 78.6 percent of the prior rally that began in March 2025. Additionally, any pullback during this fall has lasted only 2 to 3 days, highlighting the intensity of the downtrend and suggesting that bears are not ready to give up yet. On the daily chart, the RSI has been confined to the 20–30 range over the past few weeks, with no signs of reversal, indicating persistent weakness.

Bank Nifty continues to remain under bearish control. In this scenario, avoid catching bottoms and use pullbacks as selling opportunities for a move towards 49,900, followed by 49,617 levels, unless there is a sustained break above 53,250.

Key Resistance: 53,250

Key Support: 49,617

Strategy: Avoid catching bottoms and use pullbacks as selling opportunities for a move towards 49,900, followed by 49,617, unless a sustained break above 53,250 is seen.

Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan

A recovery following the breakdown from the important support level of 53,500 failed in the previous week, and the Bank Nifty index broke below the 51,323 level in Monday’s session, confirming a lower high–lower low structure.

In the near term, the 50,000 level will act as psychological support. A break below this level can drag the index down to 49,150–47,700 in the coming days. On the upside, the gap zone of 51,650–52,200 will act as a significant resistance area, and any pullback should be considered a selling opportunity.

Key Resistance: 51,650, 52,200

Key Support: 49,150, 47,700

Strategy: Sell Bank Nifty Futures between 50,750–51,000. Place a stop-loss at 52,200, with downside targets of 49,150–47,700.

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.

Trading Plan: Will Iran-driven de-escalation hopes help Nifty 50, Bank Nifty recoup Monday’s losses on first day of April series?

Nifty may see resistance at 22,500–22,700, Nifty close to a rising support trendline, Decisive fall below Monday's low could trigger a fall towards 22,000–21,700

* Nifty may see resistance at 22,500–22,700
* Nifty close to a rising support trendline
* Decisive fall below Monday's low could trigger a fall towards 22,000–21,700

shorts/business/trade-setup-for-april-1-top-15-things-to-know-before-the-opening-bell-amid-iran-war-driven-uncertainty

The Nifty 50 witnessed strong dominance of bears, falling over 2 percent for the second straight session amid high volumes on March 30, as uncertainty over the reopening of the Strait of Hormuz persisted amid the intensified West Asia war, while FII outflows have remained unstoppable since February 26. Technically, the lower high–lower low formation and downward-sloping moving averages signal healthy bearish momentum, and it has been a particularly painful month for the markets. After being oversold and with bears showing some signs of fatigue, the index may see a rebound towards 22,500–22,700; however, sustainability remains key going forward. As the index is close to a rising support trendline, a decisive break could trigger a fall towards 22,000–21,700, according to experts.



Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The Nifty 50 (22,331)

Resistance based on pivot points: 22,607, 22,709, and 22,873

Support based on pivot points: 22,279, 22,177, and 22,013

Special Formation: The Nifty 50 formed a long red candle with an upper shadow on the daily timeframe after a gap-down opening, signalling significant selling pressure. The lower top–lower bottom formation remains intact, while the index is 10.5 percent below its 200-day EMA (Exponential Moving Average), and all moving averages continue to slope downward. The RSI has remained below 40 since the start of March, while the MACD is sustained well below the signal and zero lines, with weakness in the histogram. All this indicates continued bearish bias.

2) Key Levels For The Bank Nifty (50,275)

Resistance based on pivot points: 51,249, 51,607, and 52,188

Support based on pivot points: 50,088, 49,729, and 49,149

Resistance based on Fibonacci retracement: 53,788, 55,312

Support based on Fibonacci retracement: 50,705, 47,696

Special Formation: The Bank Nifty formed a long red candle, continuing the lower high–lower low structure, and traded nearly 12 percent below its 200-day EMA, with all moving averages sloping downward. The index dropped below the 78.6 percent Fibonacci retracement level (of the rally from the March 2025 low to the January 2026 high). The RSI sustained below 40 throughout March, and the MACD stayed below the reference and zero lines, with a weakening histogram. All this indicates sustained bearish momentum.



3) Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 23,000 strike (with 28.18 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 22,500 strike (23.86 lakh contracts) and 23,200 strike (22.4 lakh contracts).

Maximum Call writing was observed at the 22,500 strike, which saw an addition of 21.19 lakh contracts, followed by the 23,200 and 23,000 strikes, which added 13 lakh and 12.11 lakh contracts, respectively. There was hardly any Call unwinding seen in the 21,700-23,200 strike band.



4) Nifty Put Options Data

On the Put side, the 22,000 strike holds the maximum Put open interest (with 25.95 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 22,500 strike (24.59 lakh contracts) and the 23,000 strike (13.5 lakh contracts).

The maximum Put writing was placed at the 22,500 strike, which saw an addition of 11.51 lakh contracts, followed by the 22,000 and 22,300 strikes, which added 9.54 lakh and 8.84 lakh contracts, respectively. The maximum Put unwinding was seen at the 22,800 strike, which shed 3.17 lakh contracts, followed by the 23,100 and 22,900 strikes, which shed 3.08 lakh and 2.89 lakh contracts, respectively.

5) Bank Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 51,000 strike, with 3.09 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 52,000 strike (2.85 lakh contracts) and the 50,000 strike (1.5 lakh contracts).

Maximum Call writing was observed at the 51,000 strike (with the addition of 2.75 lakh contracts), followed by the 51,500 strike (96,090 contracts) and 50,500 strike (94,890 contracts). There was hardly any Call unwinding seen in the 49,000-52,250 strike band.



6) Bank Nifty Put Options Data

On the Put side, the 52,000 strike holds the maximum Put open interest (with 4.49 lakh contracts), which can act as a key level for the index. This was followed by the 51,000 strike (3.99 lakh contracts) and the 50,000 strike (3.54 lakh contracts).

The maximum Put writing was placed at the 51,000 strike (which added 1.84 lakh contracts), followed by the 50,000 strike (1.51 lakh contracts) and 49,000 strike (1.18 lakh contracts). The maximum Put unwinding was seen at the 52,000 strike, which shed 85,980 contracts.



7) Funds Flow (Rs crore)

8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 0.92 on March 30, compared to a 0.94 in previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.



9) India VIX

The India VIX, which measures expected market volatility, spiked further to the 27.89 zone, the highest closing level in the last four years, up 4.05 percent from the previous session, signalling heightened risk for bulls. It needs to fall sharply below the 18 zone for bulls to regain comfort; until then, bears are likely to remain in control.



10) Long Build-up (1 Stock)

A long build-up was seen in 1 stock. An increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (187 Stocks)

187 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

12) Short Build-up (9 Stocks)

9 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.

13) Short-Covering (13 Stocks)

13 stocks saw short-covering, meaning a decrease in OI, along with a price increase.



14) High Delivery Trades and High Rollovers

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.



Here are the stocks which saw the highest rollovers on expiry day.



15) Stocks Under F&amp;amp;O Ban

Securities banned under the F&amp;amp;O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&amp;amp;O ban: Nil

Stocks retained in F&amp;amp;O ban: Nil

Stocks removed from F&amp;amp;O ban: Nil

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.

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Trade Setup for April 1: Top 15 things to know before the opening bell amid Iran war-driven uncertainty

GIFT Nifty signals a firm start for Sensex and Nifty., Sensex and Nifty may rebound after two days of losses., Analysts see 22,200 as key support for Nifty recovery.

* GIFT Nifty signals a firm start for Sensex and Nifty.
* Sensex and Nifty may rebound after two days of losses.
* Analysts see 22,200 as key support for Nifty recovery.

GIFT Nifty rose nearly 0.7% on Tuesday, signaling a firm start for Sensex and Nifty after a two-day losing streak. Analysts see possible recovery but note continued weakness, with key support and resistance levels guiding short-term market direction.

shorts/business/gift-nifty-rises-nearly-0-7-will-markets-make-u-turn-from-oversold-zone-tomorrow-here-s-what-analysts-say

GIFT Nifty rose nearly 0.7 percent around 2 pm on Tuesday, signalling at a firm start for domestic benchmark indices Sensex and Nifty on Wednesday. It made an intraday high of 22,682.5. Markets may snap their two-day losing streak amid positive global cues and a marginal decline in crude oil prices.

The benchmarks had ended the last trading session of the 2025-26 fiscal year sharply lower on Monday due to weak investor sentiment triggered by the ongoing conflict in West Asia and rising crude prices. Weak Asian markets and continued foreign fund outflows also weighed on domestic equities.

Extending losses for the second straight session, the Sensex fell 1,635.67 points or 2.22 percent to close at 71,947.55. During the day, it dropped 1,809.09 points or 2.45 percent to 71,774.13. The Nifty declined 488.20 points or 2.14 percent to settle at 22,331.40.

Analysts said the index is hovering near the oversold zone.

Hitesh Tailor, Research Analyst at Choice Equity Broking, said immediate support for the index is placed in the 22,150–22,200 range, while resistance is seen between 22,450 and 22,500. He noted that the Relative Strength Index (RSI) stands at 32.01, indicating the index remains near the oversold zone and continues to reflect underlying weakness. A sustained move above the midpoint level of 50 would be required to signal any meaningful improvement in trend strength, he added.

Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty appears to be finding support just above the rising trendline on the daily chart, with a hidden positive divergence on the daily RSI indicating a possible recovery. He said the index may see a rebound from Wednesday, with 22,200 likely to act as a key support level. However, he added that the bullish view would be negated if the index slips below 22,200.

Analysts at SAMCO Securities, however, said momentum indicators remain weak, with RSI hovering near 30–32, suggesting continuation of bearish strength rather than a reversal. They added that the broader price structure reflects lack of buying interest and steady pressure from higher levels.

Nandish Shah, Deputy Vice President at HDFC Securities, said the Nifty’s short-term trend remains weak as it is trading below key moving averages and the March 23 swing low of 22,471. He said 22,800 stands as the immediate hurdle on any recovery, while the 21,700–21,900 band is likely to act as support on the downside.

In the last two sessions, the Sensex has fallen 3,325.9 points or 4.41 percent, while the Nifty has dropped 975.05 points or 4.18 percent.

For the full 2025-26 financial year, the BSE benchmark declined 5,467.37 points or 7 percent, and the Nifty fell 1,187.95 points or 5 percent.

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.

GIFT Nifty rises nearly 0.7%: Will markets make U-turn from oversold zone tomorrow? Here's what analysts say

Kotak sees value emerging after 8 percent market correction, Earnings impact expected limited if conflict is short-lived, Recent correction improves reward-risk balance across sectors

* Kotak sees value emerging after 8 percent market correction
* Earnings impact expected limited if conflict is short-lived
* Recent correction improves reward-risk balance across sectors

Kotak Institutional Equities sees value after an 8% market drop on West Asia conflict fears. It expects limited earnings impact if the crisis is brief, but warns of higher risks if it escalates. Valuations are better but still not compelling.

shorts/business/value-emerging-across-market-caps-sectors-stocks-says-kotak-s-sanjeev-prasad

Following the sharp market correction since the beginning of the crisis in West Asia, Kotak Institutional Equities's Sanjeev Prasad sees value emerging across caps, sectors and stocks. &quot;The 8 percent correction in the broader market and more in several stocks since the start of the Iran-Israel/US war implies a prolonged crisis and a large cut to earnings in perpetuity, which is not correct,&quot; said a report.

The correction implies that the market is pricing in exacerbated fears surrounding war, with negative implications for growth and profitability, or is extrapolating near-term concerns in perpetuity. &quot;The daily gyrations in stock prices based on positive or negative news related to the conflict would suggest that the market is entirely focused on short-term news and extrapolating the same for a long time or in perpetuity,&quot; said Prasad.

However, Kotak's base case scenario entails elevated oil prices for the next few weeks and an oil price decline after ‘normalization’ to a higher plateau compared with pre-war levels. The brokerage is working with the assumptions that the ongoing conflict will continue over the next few days or weeks, tensions will remain elevated for the next few months, the Strait of Hormuz will reopen over the next few weeks and there will be no long-lasting damage to the oil &amp;amp; gas infrastructure in the Middle East.

The brokerage expects the earnings impact to remain limited if the ongoing conflict is short-lived. However, it cautions that a prolonged escalation lasting several months could pose a higher downside risk for multiple sectors, depending on their ability to pass on cost pressures through price hikes.

The brokerage has largely retained its earnings estimates for most downstream companies, with the exception of PSU oil marketing firms. Its base case assumes a short-duration conflict, followed by a normalisation in crude prices within a few weeks, no significant disruption to oil and gas supplies, and only modest-to-moderate price increases by companies to offset higher input costs.

On the broader market, Kotak notes that the recent correction in valuations has improved the reward-risk balance across several sectors and stocks. That said, it stops short of calling it a strong buying opportunity. Unlike periods such as March 2009 or March 2020, when valuations were deeply compelling, the brokerage believes that much of the consumption and investment universe continues to trade at relatively elevated levels.

Also Read | Housing sales slip below 1 lakh units for the first time in 18 quarters on weak supply

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.

Value emerging across market-caps, sectors, stocks, says Kotak's Sanjeev Prasad

Sensex and Nifty expected to open higher after two-day decline., RBI defers capital market norms, easing pressure on banks., Easing Iran conflict and positive global cues support markets.

* Sensex and Nifty expected to open higher after two-day decline.
* RBI defers capital market norms, easing pressure on banks.
* Easing Iran conflict and positive global cues support markets.

Sensex and Nifty are expected to open higher Wednesday, ending a two-day slump, aided by easing global cues, lower crude prices, RBI's deferred capital market norms, optimism over Iran conflict, and positive global markets. Caution is advised amid volatility.

shorts/business/sensex-nifty-likely-to-snap-two-day-losses-on-wednesday-three-key-reasons-markets-may-gain

The equity benchmark indices Sensex and Nifty are likely to open higher on Wednesday, snapping a two-day decline, supported by positive global cues and marginal decline in crude prices.

The benchmarks had ended the last trading session of the 2025-26 fiscal year sharply lower on Monday amid weak investor sentiment due to the ongoing conflict in West Asia and rising crude oil prices. Weak Asian markets and continued foreign fund outflows also weighed on domestic equities.

Extending losses for the second straight session, the Sensex fell 1,635.67 points or 2.22 percent to close at 71,947.55. During the day, it dropped 1,809.09 points or 2.45 percent to 71,774.13. The Nifty declined 488.20 points or 2.14 percent to settle at 22,331.40.
3 key factors that may support markets on Wednesday
1) RBI defers capital market norms: The Reserve Bank of India has deferred the implementation of norms related to banks exposure to capital markets to July 1. It has also eased certain conditions for brokers, allowing them to continue using bank guarantees backed by 50 percent margin until then. Additionally, capital adequacy requirements for banks issuing payment commitments to clearing corporations have been relaxed by limiting the exposure on which capital must be maintained.
RBI defers new capital market rules
2) Easing concerns over Iran conflict: A Wall Street Journal report indicated that US President Donald Trump is willing to end the ongoing conflict with Iran, even if the Strait of Hormuz remains largely closed for now. Brent crude futures for May declined $1.22, or 1.08 percent, to $111.56 per barrel after earlier gains. The more active June contract stood at $105.76. Analysts said the decline reflects near-term optimism, though sustained movement would depend on restoration of flows through the Strait of Hormuz.

3) Positive global cues: Global markets showed firmness, with Nasdaq-100 futures rising 0.83 percent, S&amp;amp;P 500 futures up 0.87 percent, and Dow Jones futures gaining 0.93 percent. Gift Nifty was also trading higher by about 0.5 percent, at around 2 pm, India time.
Technical Outlook
Ajit Mishra, SVP, Research at Religare Broking, said the Nifty has declined over 11 percent during March and it will be important to track whether it holds the 200-week exponential moving average placed around the 21,900 level. He said weakness in key sectors, especially banking and financials, along with elevated volatility indicated by India VIX near 28, suggests continued downside risk. He added that any pullback may face resistance in the 22,600–23,000 range and advised caution.

In the last two sessions, the Sensex has fallen 3,325.9 points or 4.41 percent, while the Nifty has dropped 975.05 points or 4.18 percent.

For the full 2025-26 financial year, the BSE benchmark declined 5,467.37 points or 7 percent, and the Nifty fell 1,187.95 points or 5 percent.

Broader markets also remained under pressure, with the BSE MidCap Select index falling 3.13 percent and the SmallCap Select index declining 2.14 percent.

Foreign institutional investors withdrew Rs 1.14 lakh crore from domestic equities in March, marking the highest monthly outflow, amid concerns over West Asia tensions, a weakening rupee and the impact of elevated crude oil prices on growth.

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.

Sensex, Nifty likely to snap two-day losses on Wednesday: Three key reasons markets may gain

8 out of 14 years NIFTY METAL has given positive returns in April.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	11,290.02	11,441.63	11,542.67	11,188.98	11,037.37	10,936.33	10,784.72
Fibonacci	11,285.50	11,345.12	11,441.63	11,188.98	11,092.47	11,032.85	10,936.33
Camarilla	11,161.56	11,184.72	11,207.88	11,188.98	11,115.24	11,092.08	11,068.92

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