Nifty Microcap 250

Immediate hurdle for Nifty 50 seen at 24,000, Only a convincing move above 24,000 can open door for 24,200–24,300 target, 23,500–23,450 zone can act as immediate support for Nifty 50

* Immediate hurdle for Nifty 50 seen at 24,000
* Only a convincing move above 24,000 can open door for 24,200–24,300 target
* 23,500–23,450 zone can act as immediate support for Nifty 50

shorts/business/trade-setup-for-april-10-top-15-things-to-know-before-the-opening-bell-as-fragile-us-iran-ceasefire-keeps-markets-on-edge

The Nifty 50 fell for the first time in the last six sessions, declining nearly 1 percent on April 9 due to profit booking, as a fragile two-week ceasefire between the United States and Iran remains in focus. The technical setup improved after the news, with the index sustaining above short-term moving averages. However, the market is expected to remain in a consolidative, range-bound phase until the US, Iran, and Israel fully comply with a formal agreement. The immediate hurdle for the Nifty 50 is seen at 24,000, as only a convincing move above this level can open the door for 24,200–24,300. On the downside, the 23,500–23,450 zone can act as immediate support, according to experts.



Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The Nifty 50 (23,775)

Resistance based on pivot points: 23,934, 24,007, and 24,124

Support based on pivot points: 23,699, 23,626, and 23,508

Special Formation: The Nifty 50 formed a bearish candle alongside the previous day's green candle, with minor upper and lower shadows on the daily charts, indicating consolidation after the recent sharp rally. The index continues to sustain above the 10- and 20-day EMAs, both of which are trending upward, though it remains below the medium- and long-term moving averages. The RSI has tilted down to 51.3 but remains well above the signal line, while the MACD maintains a bullish crossover with rising green bars in the histogram. All these indicators suggest that the underlying trend remains positive despite short-term consolidation.

2) Key Levels For The Bank Nifty (54,822)

Resistance based on pivot points: 55,376, 55,602, and 55,967

Support based on pivot points: 54,645, 54,420, and 54,054

Resistance based on Fibonacci retracement: 55,860, 57,253

Support based on Fibonacci retracement: 54,386, 53,532

Special Formation: The Nifty Bank also formed a bearish candle alongside Wednesday's green candle on the daily timeframe, signalling profit booking and consolidation after a stellar rally in the recent past. The banking index fell 1.58 percent but continues to sustain well above short-term moving averages, although it remains below the medium- and long-term moving averages. The gap between the MACD and the signal line widened further, reflected in the expansion of green bars in the histogram. The RSI remains above the reference line, though it has declined slightly. All these indicators suggest that the broader structure remains intact.



3) Nifty Call Options Data

According to the weekly options data, the maximum Call open interest was seen at the 24,500 strike (with 86.58 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,000 strike (74.94 lakh contracts) and 24,200 strike (46.6 lakh contracts).

Maximum Call writing was observed at the 23,900 strike, which saw an addition of 22.66 lakh contracts, followed by the 24,000 and 24,500 strikes, which added 22.1 lakh and 21.16 lakh contracts, respectively. The maximum Call unwinding was seen at the 23,200 strike, which shed 1.17 lakh contracts, followed by the 23,300 and 23,500 strikes, which shed 99,515 and 63,375 contracts, respectively.



4) Nifty Put Options Data

On the Put side, the 23,500 strike holds the maximum Put open interest (with 45.77 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 23,200 strike (31.26 lakh contracts) and the 23,800 strike (30.64 lakh contracts).

The maximum Put writing was placed at the 23,200 strike, which saw an addition of 16.01 lakh contracts, followed by the 23,700 and 23,150 strikes, which added 12.37 lakh and 11.01 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,000 strike, which shed 12.92 lakh contracts, followed by the 23,900 and 23,950 strikes, which shed 10.57 lakh and 4.28 lakh contracts, respectively.



5) Bank Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 55,000 strike, with 7.6 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 56,000 strike (5.98 lakh contracts) and the 54,000 strike (4.51 lakh contracts).

Maximum Call writing was observed at the 55,000 strike (with the addition of 1.28 lakh contracts), followed by the 55,500 strike (99,270 contracts) and 56,000 strike (65,580 contracts). The maximum Call unwinding was seen at the 54,300 strike, which shed 17,910 contracts, followed by the 56,300 and 53,800 strikes, which shed 7,680 and 7,020 contracts, respectively.



6) Bank Nifty Put Options Data

On the Put side, the 55,000 strike holds the maximum Put open interest (with 5.92 lakh contracts), which can act as a key level for the index. This was followed by the 54,000 strike (5.56 lakh contracts) and the 56,000 strike (2.79 lakh contracts).

The maximum Put writing was placed at the 54,800 strike (which added 40,740 contracts), followed by the 56,400 strike (37,800 contracts) and 54,700 strike (27,480 contracts). The maximum Put unwinding was seen at the 55,000 strike, which shed 31,410 contracts, followed by the 55,400 and 54,000 strikes, which shed 26,040 and 23,220 contracts, respectively.



7) Funds Flow (Rs crore)



8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 0.97 on April 9, compared to a 1.13 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

India VIX, also known as the fear gauge, rose 3.71 percent to move back above the 20 mark at 20.43, which is still an elevated level, signalling some discomfort for bulls. It is necessary for the index to cool down and sustain below the 15 zone to bring stability to the bulls' camp.



10) Long Build-up (59 Stocks)

A long build-up was seen in 59 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.



11) Long Unwinding (37 Stocks)

37 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.



12) Short Build-up (82 Stocks)

82 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.



13) Short-Covering (38 Stocks)

38 stocks saw short-covering, meaning a decrease in OI, along with a price increase.



14) High Delivery Trades

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.



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: SAIL, Sammaan Capital

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.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Trade Setup for April 10: Top 15 things to know before the opening bell as fragile US-Iran ceasefire keeps markets on edge

Nifty remains above 10-day and 20-day EMAs as both trending upward, 23,500 expected to act as immediate support for the Nify, Resistance seen at 24,000, followed by the 24,200–24,300 zone

* Nifty remains above 10-day and 20-day EMAs as both trending upward
* 23,500 expected to act as immediate support for the Nify
* Resistance seen at 24,000, followed by the 24,200–24,300 zone

shorts/business/technical-view-nifty-sees-profit-booking-after-8-rally-24-000-a-crucial-hurdle-for-bulls-bank-nifty-needs-a-decisive-break-above-55-800-for-further-upside

The Nifty 50 snapped its five-day winning streak on April 9, falling nearly 1 percent due to profit booking after a sharp rally of more than 8 percent in the previous four consecutive sessions, which had created a big bullish breakaway gap in the prior session. A slight increase in India VIX as well as rising oil prices also weighed on the market. This appears to be a phase of consolidation, which was expected after the recent sharp rally, and the positive trend remains intact.

The benchmark index is still trading above the short-term moving average, the 20-day EMA (23,460), with both the 10-day and 20-day EMAs trending upward. However, it remains below the medium- and long-term moving averages (50-, 100-, and 200-day EMAs). Hence, the 23,500 level is expected to act as immediate support for the index, while resistance is placed at 24,000, followed by the 24,200–24,300 zone, according to experts.

The Nifty 50 opened lower and remained under pressure throughout the session, closing 222 points (0.93 percent) lower at 23,775. On the daily timeframe, the index formed a bearish candle alongside the green candle formed on Wednesday.

This market action signals a consolidation phase after a sharp upward move. The earlier bearish chart pattern of lower tops and bottoms appears to have been negated, and the present consolidation is expected to form a new higher bottom in the bullish pattern, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

The gap between the MACD and the signal line has continued to widen, which is reflected in the expansion of the green bars in the histogram. The RSI has declined slightly to 51.3 but remains above the reference line. All these indicators suggest that the underlying strength of the market is still intact despite short-term weakness.

According to Nagaraj Shetti, the near-term uptrend of the market remains intact.

&quot;Nifty is expected to find support around the 23,500 level in the next few sessions before bouncing back from higher lows. Key overhead resistance is seen around 24,000,&quot; he said.

The weekly options data suggests that the Nifty 50 is likely to trade within the 23,500–24,000 range in the short term. On the Call side, the maximum open interest is at the 24,500 strike, followed by the 24,000 and 24,200 strikes, with the highest Call writing observed at the 24,000, 23,900, and 24,500 strikes.

On the Put side, the 23,000 strike has attracted the maximum open interest, followed by the 23,500 and 23,800 strikes, with the highest Put writing seen at the 23,000, 23,200, and 23,700 strikes.

Meanwhile, India VIX rebounded above the 20 zone after the previous day's sharp fall, rising 3.71 percent to 20.43 and holding above its medium- and long-term moving averages, signalling some caution for bulls. A consistent decline toward the 14–15 zone is necessary for bulls to regain strength.

Bank Nifty

The banking index also came under selling pressure after a five-day upward move, falling sharply by 882 points (1.58 percent) to 54,822 and breaking the previous day's low intraday. This correction follows an 11.65 percent rally seen over the previous five sessions.

On the daily charts, the Bank Nifty formed a red candle with a minor lower shadow, indicating profit booking, though some buying emerged near the lows. Despite this weakness, the index continued to trade above its 20-day EMA, suggesting that the short-term structure remains intact.

The MACD maintained its positive crossover, with the histogram expanding further above the zero line. The RSI declined to 50.06 but remained above the reference line. All these indicators suggest that the broader trend is still stable.

According to Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, the 55,300–55,400 zone will act as immediate resistance followed by the 55,800, while on the downside, the 54,400–54,300 range is expected to provide crucial support for the banking index.

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: Nifty sees profit booking after 8% rally; 24,000 a crucial hurdle for bulls, Bank Nifty needs decisive break above 55,800 for further upside

After a sharp surge in the previous session, the Indian equity markets came under pressure on April 9, dragging Nifty 50 below the 23,700 mark and snapping its five-day gaining streak, amid selling in financial stocks.

Amid weakness in Asian markets due to escalating Middle East uncertainties and rising crude oil prices, the market opened on a subdued note and extended losses through the session, with the Nifty falling to an intraday low of 23,682.80.

At close, the Sensex was down 931.25 points or 1.20 percent at 76,631.65, and the Nifty was down 222.25 points or 0.93 percent at 23,775.10.

Broader indices outperformed the main indices with Nifty Midcap index added 0.3% and Smallcap index ended on a flat note.

Also Read - World Bank raises India's FY27 GDP growth projections to 6.6%; flags Middle East risks

On the sectoral front, oil &amp;amp; gas, PSU Bank, Auto, Infra, Consumer Durables, Media, and Private Bank shed between 0.3-2%, while metal, power, pharma added 0.6-1%.

L&amp;amp;T, Interglobe Aviation, Eternal, Shriram Finance, Jio Financial are among biggest losers on the Nifty, while gainers included Dr Reddy's Labs, Hindalco, Bajaj Auto, Bharat Electronics, Max Healthcare.

Also Read - Multi-asset funds outperform but do they still fit your portfolio?

In stock-specific action, Bosch shares added 1% on plans to acquire Bosch Chassis Systems India (RBIC) from its existing shareholders, while Antony Waste Handling Cell shares jumped 13% on securing ¥750 million funding from JFE Engineering.

Embassy Developments added 5% on strong Q4 performance with pre-sales up 89% and collections rising 39%, while Info Edge (India) share price shed 2% despite growth in standalone billings and its recruitment solutions business, BHEL share price jumped 4% on signing tech collaboration agreement with Korea-based E2S Company.

RITES shares added 2.5% on bagging PMC work worth ₹118.89 crore, BEML shares gained 1% on bidding jointly with Delhi Metro Rail Corporation for projects in India and abroad.

Also Read - Goldman Sachs lowers second-quarter 2026 oil price forecasts

More than 100 stocks touched their 52-week high on the BSE, including Ather Energy, Hitachi Energy, Honasa Consumer, Anand Rathi, Vardhman Textiles, ABB India, among others. Click to View More

Also Read - SBI overtakes ICICI Bank to become India's No.2 lender by market cap in Q4

Outlook for April 10

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a massive rally on Wednesday, Nifty slipped into weakness amidst worries of recent Ceasefire between US &amp;amp; Iran and Nifty closed the day lower by 222 points. After opening on a weak note, the market slipped into further weakness in the early part of the session. It later shifted into a narrow range movement for mid to later part and closed near the lows. The huge opening upside gap of Wednesday has started to penetrate on the downside and the up gap is currently open with partially filled.

A small negative candle was formed on the daily chart on Thursday that placed beside the bull candle of Wednesday. This market action signals a consolidation movement in the market after a sharp upside. The bearish chart pattern like lower tops and bottoms seems to have negated and present consolidation/weakness is expected to form a new higher bottom of the bullish pattern.

The near term uptrend of the market remains intact. Nifty is expected to find support around the lows of 23500 in the next few sessions before bouncing back from the higher lows. Key overhead resistance to be watched around 24000.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On Thursday, the benchmark index Nifty witnessed profit booking at higher levels after a sharp and swift pullback rally of more than 1800 points or 8.30% in just four trading sessions, which had pushed the index sharply higher in a very short span. Following this strong move, market participants chose to lock in gains, leading to a mild correction. As a result, Nifty ended the session at 23775, registering a loss of 0.93% for the day.

On the daily chart, the index formed a bearish candle with shadows on both sides, indicating indecision near higher levels. Technically, the index continues to trade above its 20-day EMA, providing short-term support, while the falling slope of the 50-day, 100-day and 200-day EMA has slowed significantly, suggesting moderation in the medium-term downside momentum. The daily RSI is placed near the 51 level and remains above its 9-day average, hinting at a neutral to mildly positive momentum setup despite the day’s decline.

Going ahead, the 23880–23900 zone is likely to act as a key resistance for the index. A sustained move above 23900 could extend the pullback rally towards 24050, followed by 24200 in the short term. On the downside, 23630–23600 will serve as an immediate support zone for the index.

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: Markets retreat after 5-day rally; Nifty below 23,800 on financials drag

Nifty gives up 1% | Global markets trade lower | Oil gains with Brent at $98

Sensex, Nifty plunge on West Asia tensions, oil surge., Financial, IT stocks fall; Bank Nifty slips nearly 2%., Rupee weakened, India VIX rose, market volatility increased.

* Sensex, Nifty plunge on West Asia tensions, oil surge.
* Financial, IT stocks fall; Bank Nifty slips nearly 2%.
* Rupee weakened, India VIX rose, market volatility increased.

Sensex and Nifty fell sharply after a previous rally, driven by geopolitical tensions, rising oil prices, weak global cues, FII selling, rupee decline, increased volatility, profit booking, and heavy selling in IT and bank stocks. Investors remain cautious.

shorts/business/sensex-down-400-pts-nifty-below-23-900-renewed-middle-east-tensions-among-key-factors-behind-market-decline

The benchmark equity indices Sensex and Nifty declined on Thursday, giving up gains after a sharp rally in the previous session, as the geo-political uncertainty was still high after Iran’s threat to step out of the talks if Israel kept bombing Lebanon, keeping investors wary of the opening of the Strait of Hormuz.

The Sensex settled 931.25 points or 1.2 percent lower at 76,631.65, while the broader Nifty declined to 23,775.10, down 222.25 points or 0.93 percent.

Eleven of the 16 major sectoral indices were in the red. Financial stocks slipped about 1 percent after rising 5.5 percent in the previous session.

In the broader market, the Nifty smallcap100 index rose 0.3 percent, while the Nifty midcap100 index was flat.

Among individual stocks, HDFC Bank and ICICI Bank declined 1.8 percent and 1.4 percent, respectively. Honasa Consumer gained 4 percent following a strong quarterly update.

On Wednesday, both benchmark indices had surged about 4 percent after oil prices declined on reports of a ceasefire agreement between the United States and Iran, triggering a global rally.
Key factors behind market decline
1) Tensions in West Asia: Fresh concerns emerged after US President Donald Trump said American forces would remain deployed in and around Iran until a &quot;real agreement&quot; is fully implemented, warning of stronger action if commitments are not met. Iran’s signals of potential ceasefire breaches amid continued Israeli strikes in Lebanon have added to uncertainty, limiting investor risk appetite.

&quot;All U.S. Ships, Aircraft, and Military Personnel... will remain in place in, and around, Iran, until such time as the REAL AGREEMENT reached is fully complied with,&quot; Trump said in a Truth Social post.

&quot;If for any reason it is not... then the ‘Shootin’ Starts,’ bigger, and better, and stronger than anyone has ever seen before.&quot;

Addtionally, Israel has also dismissed Pakistan’s claims of playing a key mediating role in the recent US-Iran ceasefire, with its Ambassador to India Reuven Azar questioning Islamabad’s credibility as a facilitator.
Israel rejects Pakistan’s mediator role in US-Iran ceasefire
2) Rise in crude oil prices: Brent crude rose 2.09 percent to USD 96.73 per barrel. Higher oil prices are seen as negative for India, as they can widen the fiscal deficit, push up inflation and impact economic growth.

3) Weak global cues: Asian markets, including South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng, were trading lower after the previous session’s rally. US market futures also indicated a weak start.

4) Persistent FII selling: Foreign institutional investors sold equities worth Rs 2,811.97 crore on Wednesday. Sustained outflows by FIIs tend to put pressure on domestic markets as they reduce liquidity and signal cautious global investor sentiment.

5) Rupee declines: The rupee depreciated 17 paise to 92.71 against US dollar as the fragile ceasefire and Iran's threat to step out of the talks if Israel kept bombing Lebanon, kept investors wary. At the interbank foreign exchange market, the rupee opened at 92.63 against the US dollar, then gained ground to touch 92.71 against the US dollar in initial trade, registering a gain of 17 paise over its previous close.

6) India VIX rise: The India VIX, a measure of market volatility, rose more than 3 percent to 20.29 level. A higher VIX indicates increased uncertainty and risk perception among investors, often leading to sharper market swings.

7) Sensex expiry: Thursday also marks the Sensex derivatives expiry, which typically leads to higher volatility due to the unwinding or rollover of positions.

8) Profit booking: Investors also booked profits after five consecutive sessions of gains in the domestic market. Extending gains for the fifth straight session on Wednesday, the Sensex jumped 2,946.32 points or 3.95 percent to settle at 77,562.90, marking its strongest single-day rise in five years. During the session, it climbed 3,018.96 points or 4 percent to 77,635.54. The Nifty advanced 873.70 points or 3.78 percent to close at 23,997.35, its best single-session gain in 11 months. It rose 901.5 points or 3.89 percent to 24,025.15 in intra-day trade.

9) Selling in IT shares: The Nifty IT index fell 1.3 percent ahead of earnings from Tata Consultancy Services due after market hours. Selling in the heavyweight IT shares also pulled the benchmarks lower.

10) Sharp selling in Bank stocks: Financials saw heayy selling pressure in today's session. Bank Nifty was down nearly 2 percent, with all its 14 constituents trading in the red. The Nifty PSU bank and the private bank index also slipped up to 2 percent.
Technical Outlook
According to Anand James, Chief Market Strategist at Geojit Investments, resistance was seen near the 23,950 level, indicating signs of exhaustion in the recent upmove. He said declines towards the 23,822–23,693 zone may attract buying interest, while a fall below 23,693 could signal further downside towards 23,465.

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.

Markets snap 5-day run: Sensex settles 900 pts lower, Nifty ends below 23,800: Renewed Mideast tensions among 10 factors behind market decline

5 out of 5 years Nifty Microcap 250 has given positive returns in April.

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