The Nifty 50 index closed at ₹23,165.70 on April 1, 2025, down by 354 points (-1.50%)
Analysis Based on Today's Closing
Key Support Levels
Immediate Support: ₹23,100
This level aligns with the 20-day EMA and is a critical short-term support. A breakdown below this could lead to further downside.
Next Support: ₹22,900
If ₹23,100 is breached, the next significant support lies at ₹22,900, which could act as a strong demand zone.
Key Resistance Levels
Immediate Resistance: ₹23,400
This level, which was previously a support, now acts as resistance. A recovery above this level could indicate a reversal.
Next Resistance: ₹23,650
Sustaining above ₹23,650 could lead to a test of ₹23,800, which is a critical resistance for bullish momentum.
Scenario Analysis
Bearish Breakdown
If Nifty 50 falls below ₹23,100, it could test ₹22,900.
A breakdown below ₹22,900 could lead to further weakness, targeting ₹22,700 or lower.
Bullish Recovery
If Nifty 50 reclaims ₹23,400, it could target ₹23,650.
A breakout above ₹23,650 could lead to ₹23,800, signaling a potential trend reversal.
Market Sentiment
The market sentiment remains cautious due to global headwinds, including concerns over U.S. tariff policies.
Sectors like IT and banking faced significant pressure, contributing to today's decline.
NOTE: Please note that this analysis is for informational purposes only and should not be considered as financial advice or a recommendation to buy or sell any securities. Always conduct your own research and consult with a certified financial advisor before making any investment decisions.
Analysis Based on Today's Closing
Key Support Levels
Immediate Support: ₹23,100
This level aligns with the 20-day EMA and is a critical short-term support. A breakdown below this could lead to further downside.
Next Support: ₹22,900
If ₹23,100 is breached, the next significant support lies at ₹22,900, which could act as a strong demand zone.
Key Resistance Levels
Immediate Resistance: ₹23,400
This level, which was previously a support, now acts as resistance. A recovery above this level could indicate a reversal.
Next Resistance: ₹23,650
Sustaining above ₹23,650 could lead to a test of ₹23,800, which is a critical resistance for bullish momentum.
Scenario Analysis
Bearish Breakdown
If Nifty 50 falls below ₹23,100, it could test ₹22,900.
A breakdown below ₹22,900 could lead to further weakness, targeting ₹22,700 or lower.
Bullish Recovery
If Nifty 50 reclaims ₹23,400, it could target ₹23,650.
A breakout above ₹23,650 could lead to ₹23,800, signaling a potential trend reversal.
Market Sentiment
The market sentiment remains cautious due to global headwinds, including concerns over U.S. tariff policies.
Sectors like IT and banking faced significant pressure, contributing to today's decline.
NOTE: Please note that this analysis is for informational purposes only and should not be considered as financial advice or a recommendation to buy or sell any securities. Always conduct your own research and consult with a certified financial advisor before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.