Market Prediction: Today’s market showcased a classic tug-of-war between the bulls and bears. On one hand, Nifty 50 closed with a solid 0.67% gain, while on the other, Bank Nifty slipped into the red, ending the day 0.5% lower.
The session started with a gap-up opening in Nifty. However, within the first hour, the index dropped near yesterday’s close, triggering uncertainty. Meanwhile, Bank Nifty remained weak throughout the day, raising concerns about a possible pullback of the ongoing uptrend.
Yet again, the bulls took charge. Nifty rebounded sharply from the lows and closed near the day’s high, showcasing strong buying interest. Nifty IT provided solid support, while banking stocks weighed down the market. Notably, HCLTech emerged as the top gainer, soaring over 7%.On Zee Business, Anil Singhvi made a striking statement:
“It looks like Nifty doesn’t want to fall. If banks show profit booking, FMCG takes over. But Nifty refuses to fall.”
Let’s now break down the key data and signals shaping our outlook for 24 April, the monthly expiry session.
📌Table of Contents
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Market Overview – A Pause Before the Action
🔍 Nifty 50 ( +0.67%⬆)️
| Open | High | Low | Close |
| 24,357.60 | 24,359.30 | 24,119.95 | 24,328.95 |
📊 Market Breadth (Nifty 50)
| ADVANCED | FLAT (<0.25%) | DECLINES |
| 35 | 5 | 10 |
📈 Nifty Movers
| TOP GAINERS | GAIN % | TOP LOOSERS | LOSS % |
| HCLTECH | 7.74 % | HDFCBANK | – 2.09 % |
| TECHM | 4.76 % | KOTAKBANK | – 2.09 % |
🏦 Nifty Sectoral Performance
- Nifty IT: +4.79% 🚀
- Nifty Auto: +2.38% 🔧
- Private Banks: -0.75% 🔻
- PSU Banks: -0.57% 🔻
- Sensex & Nifty closed green, while Bank Nifty & FinNifty ended in red.
🔍 Technical Analysis – Is the big target coming?
The market displayed a wide intraday range. Nifty swung from low to high and closed near its top — a bullish sign.
Key Levels:
- Support: 24,000 (previous), Today’s Low: 24,120
- Resistance: 24,790 (next), Today’s High: 24,360
- Trend: Uptrend continues with bullish bias
📊 RSI Levels
Hourly RSI: 75 — Cooling off from 80
Daily RSI: 67.70 — Approaching 70 resistance
📊 Open Interest (OI) Data – Expiry Day Range in Focus
OI indicates a possible expiry range between 24,200–24,300.
A short covering rally in the second half signals bullishness.
- Max OI CE Side :1.06 Cr on 24,300.
- Max OI PE Side : 1.11 Cr on 24,400.
🧮 OI Build-Up:
| Index | PRICE % | OI % | BUILDUP |
| NIFTY | 0.67% | -1.1% | Short Covering |
| BANK NIFTY | -0.50% | -4.02% | Long Unwinding |
| FINNIFTY | -0.67% | 3.85% | Short Building |
🌐 FII & DII Data (Updated)
FII : +3332 Cr. Buy in Cash
DII : -1234.46 Cr. Sell in Cash
🧠 Market Prediction & Trade Plan
🔸 Market Prediction: Experts’ Views:
Anil Singhvi (Zee Business):
“Nifty is not ready to fall. One sector’s weakness is supported by another.”
Ajit Mishra (Religare Broking):
“Outlook remains bullish with strong support at 23,700–23,800. Focus on stock-specific trades.”
Nandish Shah (HDFC Securities):
“Immediate resistance at 24,545 (61.8% retracement from all-time high).”
📘 Key Learning from Today’s Market
- OHLC levels from the previous day still act as strong support/resistance.
- A 100+ point candle in the first hour may signal a range-bound session until that range is broken.
📣 What’s Your Take?
Do you think ******?
💬 Drop your thoughts in the comment section!