NIFTY MIDCAP 150

Israel Ready for Talks | Brent oil cools after touching $100 | Nifty may face resistance at 24000

Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to a firm opening on April 10, tracking gains in GIFT Nifty, which was trading around the 23,918.50 level.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

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.

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.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

GIFT Nifty was trading with marginal gains at around 23,918.50, indicating a flat to positive opening for the Indian equity markets.

Asian Equities (Gain)

Asian stocks ticked up early on Friday but gains were capped as traders questioned the durability of this week's U.S.-Iran ceasefire and remained wary of fragile hopes for Israel-Lebanon peace talks.



US Equities (Up)

US stocks advanced on Thursday, as ongoing negotiations toward a ‌peaceful resolution to the six-week Middle East conflict helped ease worries over the fragile U.S.-Iran truce.

The Dow Jones Industrial Average rose 275.88 points, or ‌0.58%, to ⁠48,185.80, the S&amp;amp;P 500 gained 41.85 points, or 0.62%, to 6,824.66 and the Nasdaq Composite gained 187.42 points, or 0.83%, to 22,822.42.



Dollar Index (Flat)

The U.S. dollar index, which measures the greenback's strength against a basket of six currencies, was up 0.1% at 98.91, after data released Thursday showed weekly jobless claims increased by 16,000 to 219,000 and continuing claims fell by 38,000 to 1.794 million, the lowest level since May 2024.



US Bond Yield (Up)

The yield on the U.S. 10-year Treasury up 1 basis point at 4.28%, while 2-year U.S. Treasury were up more than 1 basis point at 3.78.



Asian Currencies (Mixed)

Asian currencies traded mixed in early Friday session, with the Indonesian Rupiah, South Korean Won, Japanese Yen, Thai Baht, Singapore Dollar, and Philippine Peso weakening, while the Chinese Renminbi, Malaysian Ringgit, and Taiwan Dollar edged higher.



Crude (Up)

Oil prices rose in early trading on Friday following attacks on Saudi energy infrastructure, and as markets evaluated the risk premium from the ongoing closure of the Strait of Hormuz, despite a fragile truce agreed between the U.S. and Iran.



Gold (Flat)

Gold prices remained almost unchanged, whereas silver prices gained nearly 1% in early trade on Friday.



Fund Flow Action

FIIs maintained their selling streak on April 9, though with reduced intensity, offloading equities worth over ₹1,700 crore, while DIIs sustained their buying trend, purchasing equities worth ₹955 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

Sensex Today | Stock Market LIVE Updates: Indian benchmark indices are likely to see a positive start today on the back of firm global cues. Stocks like Tata Consultancy Services, JSW Steel, Wipro, HDFC Life Insurance Company, Poonawalla Fincorp, Saatvik Green Energy, IFB Industries, IRB Infrastructure Developers, SpiceJet, and Gaudium IVF and Women Health will be in focus on April 10.

Sensex Today | Stock Market Live: Sensex, Nifty gain at pre-open; TCS, Godrej Properties, Wipro, HDFC Life in focus

Future market direction to hinge on actual de-escalation on the ground, Valuation concerns persist despite the recent correction in prices, Indigenous defence spending undoubtedly set to increase substantially

* Future market direction to hinge on actual de-escalation on the ground
* Valuation concerns persist despite the recent correction in prices
* Indigenous defence spending undoubtedly set to increase substantially

shorts/business/daily-voice-iran-ceasefire-lifts-sentiment-but-is-the-worst-over-for-markets-kotak-amc-s-nilesh-shah-flags-lingering-valuation-concerns-despite-recent-correction

Even after two-week Iran ceasefire, &quot;I do not believe the worst is behind us for the markets,&quot; Nilesh Shah, the Managing Director at Kotak Mahindra AMC said in an interview to Moneycontrol.

However, future market direction will hinge on actual de-escalation on the ground — sustained peace, not just a pause, he added.

He believes valuation concerns persist despite the recent correction in prices. &quot;We are likely to see a stock specific moves rather than a strong broad-based rally unless FPIs turn big buyers,&quot; he said.

He does not expect any rate cut this year. The RBI is likely to remain in a long pause mode, Nilesh Shah believes.

Do you believe the worst is now over for the markets after the two-week ceasefire raised hopes of an end to the Iran conflict?

No, I do not believe the worst is behind us for the markets. Never say Never in the market. The two-week ceasefire triggered a relief rally, which was expected. However, future market direction will hinge on actual de-escalation on the ground — sustained peace, not just a pause.

Geopolitical risks remain fluid, and any flare-up could quickly reverse the sentiment. Israel is already hitting Lebanon. Iran is not fully opening Hormuz Strait and US has rubbished Iran's 10-point proposal. Holding of Ceasefire is absolutely important without contradicting indications for markets to stabilise.

Ultimately, who do you see as the biggest winner in this conflict?

This conflict is likely to end in a stalemate. The US and Israel can legitimately claim victory, they have degraded Iran’s nuclear capability, ballistic missile infrastructure, and ensured the Strait of Hormuz remains open for global oil flows.

Iran, on the other hand, will project victory by highlighting that the regime remains intact and that it continues to extract a “toll” on shipping through the region.

In reality, no side achieved a decisive win, which is perhaps the best outcome for the global stability. However, I am not an expert on geopolitics and do remember that Don ko samajna Muskil hi nahi, namumkin hai.

Even after the significant correction, do you still see valuation concerns?

Valuation concerns persist despite the recent correction in prices. Unlike the sharp 2020 Covid crash, we have not seen a meaningful derating. Instead, we have witnessed a prolonged time correction, Nifty has been largely flat for nearly two years while corporate earnings have continued to grow albeit in single digits.

This has brought valuations to more reasonable levels, but they are not yet compelling enough for a Covid kind return. We are likely to see a stock specific moves rather than a strong broad-based rally unless FPIs turn big buyers.

With easing war tensions, do you expect conditions on the earnings and economic front to largely normalise by Q2 FY27?

We should not rush to assume normalisation by Q2 FY27. While easing war tensions are positive, supply chain disruptions are not fully resolved. The Strait of Hormuz is only partially open, and global trade rerouting costs remain elevated.

Actual events on the ground will dictate the pace of normalisation in earnings and economic activity. Need to hear management guidance for FY27 carefully.

Do you believe indigenous defence spending is set to increase going forward?

Indigenous defence spending is undoubtedly set to increase substantially. Independent defence commentator Major Gaurav Arya (retd) has highlighted potential procurement of around $500 billion over the next decade, largely focused on indigenous platforms. This will be a multi-year structural tailwind for the sector.

Companies with futuristic technology are likely to do better than traditional defense companies.

With expectations of oil prices remaining in double digits rather than returning to triple digits, do you now rule out inflation concerns and expect growth of around 6.5% for FY27?

With oil futures in backwardation and pointing towards double-digit prices rather than triple digits, I am comfortable ruling out near-term inflation spikes from energy. This should support GDP growth of around 6.5% in FY27. However, the trajectory will still depend on actual oil prices and the permanence of de-escalation.

Do you believe the possibility of a rate cut in the current year remains high, especially after easing geopolitical risks?

I do not expect any rate cut this year. The RBI is likely to remain in a long pause mode. With growth stabilising and inflation risks not fully extinguished, monetary policy will stay cautious.

Which sectors do you expect to outperform going forward?

Going forward, I like:
* BFSI — especially banks with strong deposit franchises and asset quality
* Hotels &amp;amp; Hospitals — domestic consumption and medical tourism themes
* Cement — driven by capex and infrastructure push
* Select mid-cap IT companies with strong deal wins and niche capabilities

Summary: Markets have got some breathing space, but sustainability depends on genuine peace, oil price stability, and corporate earnings delivery. Stay selective, remain invested in quality, and keep adequate cash for opportunistic buying.

Invest contra not just 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.

Daily Voice: Iran ceasefire lifts sentiment, but is the worst over for markets? Kotak AMC's Nilesh Shah flags lingering valuation concerns despite recent correction

Nifty 50 to remain range-bound until it decisively moves above 24,000 level, Above it, 24,500 likely to act as a crucial hurdle, Bank Nifty needs to defend 54,600 (near Thursday’s low)–54,400 support range for stability

* Nifty 50 to remain range-bound until it decisively moves above 24,000 level
* Above it, 24,500 likely to act as a crucial hurdle
* Bank Nifty needs to defend 54,600 (near Thursday’s low)–54,400 support range for stability

shorts/business/trading-plan-can-nifty-50-bank-nifty-defend-thursday-s-low-amid-ceasefire-uncertainty

The Nifty 50 is expected to remain range-bound until it decisively moves above the psychological 24,000 level and sees positive progress in the ceasefire. Above this level, 24,300-24,500 are likely to be crucial hurdles. Immediate support is placed at around 23,650–23,700 (near Thursday’s low of 23,683), followed by 23,450–23,500 (20-day EMA) as a key support zone. Meanwhile, the Bank Nifty needs to defend the 54,600 (near Thursday’s low)–54,400 support range for stability, which could raise hopes for a move toward 55,800–56,200. However, a fall below this support may open the door to 54,000–53,500 levels, experts said.

On April 9, the Nifty 50 fell 222 points (0.93 percent) to 23,775, while the Bank Nifty declined 882 points (1.58 percent) to 54,822, with moderate weakness in market breadth. About 1,596 shares saw selling pressure compared to 1,376 advancing shares on the National Stock Exchange.

Nifty Outlook and Strategy

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

Nifty failed to witness follow-through buying after the recent gap-up and faced rejection near the 24,000 zone, indicating supply at higher levels. However, the index managed to close around the 0.382 Fibonacci support at 23,770–23,750, which remains a key make-or-break level.

The RSI continues to sustain above 50, suggesting that momentum has not weakened. On the upside, 24,250–24,300, near the 0.50 retracement and 50-EMA, forms a strong resistance cluster, with Call writing around 24,000–24,200 and Put support near 23,700–23,500. India VIX near 20 indicates elevated volatility. As long as the index trades within 23,750–24,250, range-trading dominance remains the preferred strategy, with a breakout on either side likely to dictate the next directional move.

Key Resistance: 24,000, 24,200, 24,300

Key Support: 23,750, 23,600, 23,450

Strategy: Traders may consider a short straddle for the April 13 expiry by selling one lot of 23,800 CE at Rs 200 and one lot of 23,800 PE at Rs 190. This setup is designed to capitalise on potential range-bound momentum.

Stop-Loss: Hold this strategy strictly, with the maximum mark-to-market (MTM) loss capped at Rs 12,000 to ensure disciplined risk management.

Target: Hold this strategy, aiming for a maximum mark-to-market (MTM) profit target of Rs 25,000, while considering profit booking once MTM gains exceed Rs 12,000.

Jay Mehta, Technical Research at JM Financial Services

Nifty rebounded strongly from the April 2 low. On Wednesday, it witnessed a sharp rally with a massive 731-point gap-up, moving nearly 900 points in a single session—this gap remains unfilled. In the last two sessions, the index has faced stiff resistance near the psychological 24,000 level.

Considering the entire fall from the February 3 high to the April 2 low (a 15.79 percent decline), the current rebound has retraced about 38 percent of that move. On the daily timeframe, price action and indicators suggest a neutral-to-positive bias in the short term, favouring range trading—buying near the lower end of the gap support and selling near higher resistance.

Nifty is currently trading above the 20-day EMA but below the 50- and 200-day EMAs. On the weekly chart, the undertone remains bearish. For a positional shift from bearish to bullish, Nifty needs to sustain above 24,450.

Key Resistance: 24,000, 24,200, 24,450

Key Support: 23,650, 23,500, 23,150

Strategy: The outlook remains cautiously positive. For the short term, buy Nifty futures near the support zone of 23,500–23,600, with a stop-loss at 23,150, targeting 24,000, 24,200, and 24,450.

Sumeet Bagadia, Executive Director at Choice Broking

The appearance of a bearish piercing pattern on the charts points toward a continued downside bias in the short term. Technically, the 24,100–24,500 zone in the futures segment is emerging as an immediate resistance area for the Nifty 50, while support is seen developing in the 23,600–23,500 range.

The daily RSI is at 51.30, suggesting neutral momentum with a slight bearish tilt. At the same time, India VIX dropped by 3.71 percent to 20.24, indicating a modest reduction in market volatility.

In the derivatives space, significant Put writing at the 24,000 strike and strong Call writing at 23,700 imply that the index could trade within a limited range in the near term. Considering these factors, traders are advised to stay cautious over the next one to two sessions.

Key Resistance: 24,100, 24,500

Key Support: 23,600, 23,500

Strategy: Buy Nifty futures on dips until the index breaks the support levels, with a stop-loss of 23,500 on a closing basis.

Bank Nifty - Outlook and Positioning

Dhupesh Dhameja, Derivative Research Analyst at Samco Securities

Nifty Bank failed to sustain the prior rebound and slipped below the 55,000 zone, indicating fading momentum at higher levels. The index continues to face strong resistance near 55,800–56,000, which aligns with the 0.50 Fibonacci retracement and the 50-EMA, making this cluster a key supply area.

On the downside, 54,500–54,400, near the 0.382 retracement, acts as immediate support. A breach of this band could revive selling pressure and expose the index to lower levels, including gap support.

The RSI hovering around the 50 mark reflects a lack of directional conviction. The PCR (Put-Call ratio) near 0.76 and Call writing around 55,500–56,000 indicate supply on rallies, while Put support near 54,500–54,000 holds. As long as resistance holds, a sell-on-rise strategy remains preferred.

Key Resistance: 55,200, 55,600, 55,900

Key Support: 54,500, 54,200, 53,800

Strategy: Traders can look to initiate short positions in Nifty Bank April futures on a pullback towards the 55,300–55,350 zone, keeping a strict stop-loss above 55,550. On the downside, profit-booking targets are placed in the 54,800–54,700 range.

Jay Mehta, Technical Research at JM Financial Services

Bank Nifty also rebounded strongly from the April 2 low and relatively outperformed Nifty. On Wednesday, it delivered a powerful move with a massive 2,188-point gap-up, rising nearly 3,000 points in the session—this gap remains unfilled. In the last two sessions, it has faced resistance near the 55,800 level.

Considering the full fall from the February 19 high to the April 2 low (a 19 percent decline), the current rebound has retraced about 50 percent of that move. On the daily timeframe, price action and indicators suggest a neutral-to-positive bias in the short term, favouring range trading—buying near the lower end of the gap support and selling near higher resistance.

Bank Nifty is currently trading above the 20-day EMA but below the 50- and 200-day EMAs. On the weekly chart, the undertone remains bearish to neutral. For a positional shift from bearish-neutral to bullish, Bank Nifty needs to sustain above 57,800.

Key Resistance: 55,800, 56,800, 57,800

Key Support: 54,180, 53,600, 52,700

Strategy: The outlook remains cautiously positive. For the short term, buy Bank Nifty futures near the support zone of 53,600–53,800, with a stop-loss at 52,000, targeting 55,800, 56,800, and 57,800.

Sumeet Bagadia, Executive Director at Choice Broking

The banking benchmark index has formed a bearish piercing candlestick pattern on the daily chart, pointing toward a potential short-term reversal or weakening of the ongoing bullish momentum. The overall price action reflects continued softness with a cautious near-term undertone.

In summary, the price action suggests a bearish bias with limited upside potential in the short term. From a technical perspective, the 56,000–56,300 zone in the futures segment is acting as an immediate resistance area, while the 54,500–53,000 range remains a key support zone. Given these factors, traders are advised to stay cautious over the next one to two trading sessions.

Key Resistance: 56,000, 56,300

Key Support: 54,500, 53,000

Strategy: Buy Bank Nifty futures on dips until the index breaks the support levels. Keep a stop-loss at 53,000 on a closing basis.

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: Can Nifty 50, Bank Nifty defend Thursday’s low amid ceasefire uncertainty?

6 out of 8 years NIFTY MIDCAP 150 has given positive returns in April.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	21,116.10	21,266.70	21,452.70	20,930.10	20,779.50	20,593.50	20,442.90
Fibonacci	21,058.68	21,138.12	21,266.70	20,930.10	20,801.52	20,722.08	20,593.50
Camarilla	20,996.36	21,027.21	21,058.06	20,930.10	20,934.64	20,903.79	20,872.94

INDEX CONTRIBUTION - NIFTY MIDCAP 150

Net Contribution

MC TechnicalsPRO

Pivot levels

Seasonality analysis

News

Moving Averages
Technical Indicators
Moving Averages Crossovers