Red Alert Stock Market! Nifty 50 & Sensex Under Pressure as Global Markets Tumble
Red Alert Stock Market
Red Alert Stock Market! : Today’s Nifty 50 and Sensex patterns also point to a gap-down beginning for the Indian benchmark index. The Gift Nifty was down around 125 points from the previous closing of the Nifty futures, trading at a level of 23,201.
Following global market cues, the key Indian stock market indices, the Sensex and Nifty 50, are probably going to open lower on Friday.
A gap-down beginning for the Indian benchmark index is also suggested by the trends on Gift Nifty. The Gift Nifty was down around 125 points from the previous closing of the Nifty futures, trading at a level of 23,201.
The US stock market fell overnight, wiping out a combined market worth of $2.4 trillion for the S&P 500 businesses, while Asian markets saw reduced trading. Following President Donald Trump’s announcement of broad reciprocal tariffs on nations, which sparked worries of a worldwide trade war and a potential global economic downturn, world markets fell.
In light of US President Donald Trump’s declaration of reciprocal tariffs, the domestic equity market weakened on Thursday, with the benchmark Nifty 50 falling below the 23,300 mark.Red Alert Stock Market
The Nifty 50 closed 82.25 points, or 0.35%, lower at 23,250.10, while the Sensex fell 322.08 points, or 0.42%, to close at 76,295.36.
Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today:
Sensex Prediction :
The Sensex reversed from support near 75,800 on Thursday, dropping 320 points to settle at 76,295.36.
The 77,000 resistance level, which is mostly bearish, was not broken by the Sensex. We think that non-directional activity is now taking place in the market. On the downside, profit booking is taking place close to the 77,000 zone, and it is often finding support around 75,800. 77,000 is currently the crucial mark to keep an eye on for short-term traders. The rebound may reach 77,500 to 77,800 if the index rises over this level, according to Shrikant Chouhan, Head of Equity Research at Kotak Securities.
On the other hand, he thinks that if the Sensex drops below 75,800, selling pressure would increase and the market might retest levels between 75,500 and 75,300.
According to Chouhan, “level-based trading would be the ideal strategy for day traders given the current market conditions, which are non-directional.”
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Nifty OI Data :
Regarding options, the Nifty Maximum Call and Put OI are at 24,000 and 23,500 strikes, respectively, and 23,000 and 23,200 strikes.
While put writing is observed at 22,800 and 23,000 strikes, call writing is observed at 23,300 and 23,600 strikes. With an immediate range of 23,100 to 23,500 levels, option data indicates a wider trading range in the 22,700 to 23,700 zones, according to Chandan Taparia, Head of Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd.
Nifty 50 Prediction :
The Nifty 50 formed a bullish belt hold candle, suggesting strength, and ended the day lower by 82.25 points at 23,250.10 on April 3.
“A long upper shadow and a reasonable positive candle were formed.” Technically speaking, this market behavior suggests a weakly biased, range-bound market movement. This indicates that the significant worldwide event has passed without causing any harm to the market’s underlying trend, according to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.Red Alert Stock Market
He claims that the Nifty 50’s underlying short-term trend is weakly biased and range-bound.
Around the 23,100 level support, the Nifty 50 is currently building a new higher bottom reversal pattern. In the near future, the Nifty 50 may be pulled towards the next overhead resistance level of roughly 23,650 levels if there is a sustained advance over the 23,350 barrier, according to Shetti.
Rising tariff tensions caused global markets to plummet, but the Indian stock market showed incredible resiliency, according to Om Mehra, Technical Research Analyst at SAMCO Securities.
In spite of global challenges and increased volatility, the Nifty 50 remained above the crucial weekly low of 23,136, indicating strength. While important indicators like the RSI and MACD stayed in neutral territory, the index maintained its position above its 20-day moving average. To create a distinct directional trend, a breakout on either side of the larger range of 23,136 to 23,565 will be essential. “The overall structure remains mildly positive until such confirmation emerges,” Mehra said.
Technically speaking, the benchmark Nifty 50 created a Bullish Belt Hold candlestick pattern during the most recent session, indicating purchasing pressure in the market, according to VLA Ambala, co-founder of Stock Market Today.
“The Nifty 50 can encounter resistance between 23,400 and 23,540 and find support between 23,180 and 23,030, given the current market sentiment,” Ambala stated.
Bank Nifty Prediction :
The Bank Nifty index closed Thursday’s trading session up 249.30 points, or 0.49%, at 51,597.35, outperforming the benchmarks.Red Alert Stock Market
The 200-Day Simple Moving Average (200-DSMA) was defended by Bank Nifty, which technically created a bullish candle on the daily chart and was positioned around 51,030, signaling strength. On the negative side, the 51,030 and 50,640 levels provide significant support for the Bank Nifty, while 52,000 will serve as a significant short-term barrier for the index, according to Hrishikesh Yedve. Asit C. Mehta Investment Intermediates Ltd.’s AVP of Technical and Derivatives Research is Hrishikesh Yedve.
He suggests that traders use a “buy on dips” approach as long as the index remains within 50,640 levels.
