Nifty 50, Sesex and Nifty Bank’s indexes opened the week with a positive note with a wide gap. After keeping higher throughout the week, the indices lost impulse on Friday. The geopolitical tension between India and Pakistan after the terrorist attack in the Kashmir Pahalgama is to weigh in the markets. However, as mentioned last week, the reversal of the upward trend is confirmed. There are chancos to see an intermediate immersion before a fresh upmove leg begins. There are strong support for the Sesex, Nifty and the NIFTY banking index that can limit the disadvantage. Therefore, the expected fall can give another opportunity to enter the market from a long -term perspective.
Among the sectors, the EC TI index increased more and exceeded last week. The index increased 5.87 percent.
Purchase of FPIS
Foreign portfolio investors (FPI) bought Indian assets for the second consecutive week. In fact, the purchase amount was high. The capital segment saw a net ticket of approximately $ 2.04 billion last week. If the FPIs continue to buy, then it can help the Sensex and Nifty to climb new maximums in the future.
Video Credit: Businessline
NIFTY 50 (24,039.35)
Nifty opened the week with a positive note and closed above the 24,000 psychological brand on Monday. He climbed a maximum of 24,359.30 on Wednesday and fell from there. Autumn intensified on Friday when the index touched a minimum of 23,847.85 before closing the week with 24,039.35, 0.79 percent more.
Short -term view: The broadest bias is positive. But Friday’s fall maintains a slightly weak short -term perspective. IMEDIATE support is in the region 23,950-23,900. If the ingenious manages to keep over 23,900, it can range in a range or 23,900-24,400 for some time.
But, a break below 23,900 can activate a corrective drop at 23,500 or 23,300. However, more than 23,300 fall is unlikely. We can expect the NIFTY to invest again in the support zone of 23,500-23,300. That increase will have the potential to violate 24,400. Such rest can take Nifty to up to 25,000 in the short term.
In general, bias is positive to rape 24,400 and increase to 25,000. But this increase must be seen from here or after a short-lived bathtub at 23,500-23,300 it is necessary to see.
Graphic Source: TrainingView
Medium term view: The widest upward vision is intact. NIFTY can increase to 25000-26000 initially in the coming months. From a long-term perspective, Nifty has potential to aim at 28,000-28,500 for the end of this year or early next year.
The support group is in the wide region of 23,000-22000. We can expect the new buyers to enter the market and limit the disadvantage. As mentioned last week, the upward perspective will refuse only if the ingenious decreases below 21,650, which seems unlikely at this time.
Nifty Bank (54,644.05)
The NIFTY banking index broke above the level of intermediate resistance or 54,500 last week. He touched a maximum of 56,098.70 and then fell sharply returning some of the profits. The index has closed the week at 54,644.05, 0.69 percent more.
Short -term view: The investment of around 56,000 last week leaves the short -term perspective negative. The NIFTY banking index can see a corrective fall at 53000 or 52,800 this week. But this 53000-52,800 support area can stop the fall. The new buyers are likely to enter the market around these levels.
As such, the index can reverse more again from the support area 53,000-52,800. That Upmove leg can recover the index to 56,000 again. A decisive rupture above 56,000 can clear the way for the Nifty Bank index to point to 58,000 on the rise.
The bullish view will be denied only if the index decreases below 52,800. If that happens, we can see a drop at 51,000. But such a fall seems less likely.
Graphic Source: TrainingView
Medium term view: The view is still optimistic. The region between 53,000 and 52,500 will act as a strong support zone. We retain our vision of the Nifty Bank index that points to 58,000 on the rise. After this increase, a corrective drop is 56,000 is a possibility. But from a long -term perspective, the ingenious banking index has potential to aim at 61,000 in the rise.
Sensex (79,212.53)
Sensex recovered the 80,000 mark last week, but failed to obtain a strong increase in follow -up. The index reached a maximum of 80,254.55 and had left there. He has closed the week at 79,212.53, 0.84 percent more.
Short -term view: The IMEDIATED SUPPORT is 78,600. A break below can drag the index to 77,250 or 77,000 this week. However, a fall below 77,000 seems less likely, since it is likely that the new buyers cope with the market and limit the disadvantage.
A rebound from the support zone of 77,250-77000 can take the Sesex to 80000-80,250 again. A decisive breakdown above 80,250 can take the index to 82,000-82,300 in the short term.
In the event that the Sesex manages to keep above 78,600, it can range in a range or 78,600-80.250 for some time. From then on, a bullish outbreak can happen above 80,250.
Graphic Source: TrainingView
Medium term view: The widest upward vision remains intact. 76,000-75,500 can be a good intermediate support. We retain our vision of seeing 85,000-86000 initially in the coming months. From a long -term perspective, Sensex has potential to aim at 90,000 and only 92,000 during the next year.
Sensex has to decrease below 70,800 to deny this upward vision. That seems unlikely now.
Dow Jones (40,113.51)
The industrial average Dow Jones fell to 38,000 again as expected last week. However, the index has raised well from the minimum of 37,830.66 recovering all the loss. He has closed the week at 40,113.51, 2.48 percent more.
Graphic Source: TrainingView
Perspective: The immediate perspective is mixed and uncle. There is a possible range or 37,800-41000 within which the index seems to be oscillating now. Within this range, an increase to try 41,000 seems possible now. If the Dow manages to violate 41,000, you can see an increase extended to 42,000-42,200. But an investment of around 41,000 can drag 40,000 and lower. Then he will continue to maintain the intact lateral range.
Idly, Dow Jones has to rise above 42,200 to recover the upward feeling.
Posted on April 26, 2025