Apr 15, 2025 | Markets Desk
The Indian share market is set for a strong kick-start on Tuesday, April 15, thanks to the supportive global cues and strong indications from the GIFT Nifty. The GIFT Nifty was almost 23,290, indicating a gap-up start with a colossal premium of nearly 373 points compared to the previous Nifty futures close.
Markets remained shut on Monday due to Ambedkar Jayanti celebrations, but Friday's surge keeps hopes alive. Sensex had recovered 1,310.11 points to be at 75,157.26, while Nifty 50 increased by 429.40 points to be at 22,828.55, following the US government's 90-day waitout on 26% tariffs on Indian goods.
Nifty 50 Prediction: Targeting 23,400-23,500
The Nifty 50 formed a bullish candle pattern on daily and weekly charts, reflecting a robust short-term recovery. A robust move above 22,900–23,000 can take the index to 23,400–23,500 in the near term, says Nagaraj Shetti of HDFC Securities.
Key resistance levels to monitor:
- 23,060 – 61.8% Fibonacci retracement
- 23,100–23,230 – Intraday resistance
Support levels:
- 22,700
- 22,500
- 22,200
Analysts suggest a "buy on dips" strategy, but India VIX's 46% rise to nearly 20 indicates high volatility and potential pullbacks. Traders are advised to be cautious.
"A strong marubozu candle on the weekly chart is a buy signal, but the high VIX means that one has to be cautious," said Puneet Singhania, Director, Master Trust Group.
Bank Nifty Outlook: Strength Amid Broader Uncertainty
Bank Nifty ended at 51,002.35 on Friday, up 762.20 points and forming a bullish pattern on timeframes. The index is demonstrating relative strength and trading above important 21-day and 55-day EMAs, which suggests short-term momentum.
Resistance Levels:
- 51,500 – Old gap-down zone
- 52,100 – Recent swing highs
- 52,000 – Psychological level
Support Zones:
- 50,400 – Near 21-day EMA
- 49,800 and 49,000 – Structural supports
Brokerage houses like Bajaj Broking suggest using this breather to create quality banking stocks in the long run, as a clean breakout has yet to occur.
Market Strategy Summary:
Nifty 50: Caution with optimism; wait for trend confirmation at 22,900–23,100.
Bank Nifty: Buy on dips; wait for breakout above 52,000.
Overall: High volatility may persist; avoid aggressive positions till technical strength is confirmed.
This article is intended for general information purposes only. Before making investment decisions, consult a qualified financial advisor.
