Market Prediction: Despite a rising VIX and concerns over Indo-Pak tensions, today’s market showed a completely different mood. Nifty, Bank Nifty, and Sensex ended the day with gains of over 1%.
India VIX still remains in the alert zone near 17, but multiple strong triggers supported the rally:
- Strong Q4 results from Reliance Industries
- Strength in PSU banks
- Cooling Indo-Pak tensions
However, the question remains — are these gains sustainable or just a one-day wonder? Nifty continued to struggle around higher levels and, for the fourth consecutive day, could not break past the key 24,365 resistance zone.
Now, it becomes crucial to closely track data points and technical to predict the next move.
Let’s dive into the charts and key data for the Market Prediction for 29th April 2025.
Table of Contents
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Market Overview – A Pause Before the Action
🔍 Nifty 50 Snapshot
| Open | High | Low | Close |
| 24,070.25 | 24,355.10 | 24,054.05 | 24,328.50 |
📊 Market Breadth (Nifty 50)
| ADVANCED | FLAT (<0.25%) | DECLINES |
| 34 | 9 | 7 |
📈 Nifty Movers
| TOP GAINERS | GAIN % | TOP LOOSERS | LOSS % |
| RELIANCE | 5.07 % | SHRIRAMFIN | – 5.13 % |
| SUNPHARMA | 3.07 % | ETERNAL | – 0.92 % |
🏦 Nifty Sectoral Performance
The overall sectoral performance was very bullish.
- Nifty PSU Bank: +2.44%
- Nifty Pharma: +1.98%
- Nifty IT: Slight decline of -0.22%
Only IT closed marginally in the red, indicating sectoral strength across the board.
🔍 Technical Analysis – Is This Pause Significant?
Key Levels:
- Support: 24,000 – 23,850
- Resistance: 24,365 – 24,790
Price Action :-
Nifty once again faced resistance at 24,365. For the fourth straight session, the index failed to cross this level but managed to close above 24,300 for the first time this week.
On the downside, 24,000 remains a strong support. On Friday, the market breached this level intraday but quickly recovered, indicating support retest.
RSI 14:
- Daily Chart: RSI faced resistance near 70 but is currently at 64 and trending upward.
- Hourly Chart: RSI remains above 60 but is tilting downwards. A break below 60 could drag RSI toward the 40 zone.
📊 Open Interest (OI) Data
24,300 appears to be a crucial make-or-break level, based on OI data. CE OI – 65 Lkh, PE OI – 70 Lkh
- Max PE OI: 24,200 (80 Lakh) → Strong Support
- Max CE OI: 24,500 (1.06 Crore) → Strong Resistance
🧮 OI Build-Up:
| Index | PRICE % | OI % | BUILDUP |
| NIFTY | 1.20% | 12.73% | Long Buildup |
| BANK NIFTY | 1.41% | 4.02% | Long Buildup |
| FINNIFTY | 0.98% | 2.77% | Long Buildup |
- All indices show long buildups, signaling strength in the market.
🌐 FII & DII Data (Updated)
FII : +2474.10 Cr. Buy in Cash
DII : +2817.64 Cr. Buy in Cash
🧠 Market Prediction & Trade Plan
- The market looks bullish based on price action and open interest data.
- A close above 24,365 can trigger a fresh rally towards the 24,790–24,850 zone.
- However, caution is still advised due to lingering Indo-Pak tensions.
- On the downside, unless a major negative event occurs, the market is unlikely to break below 24,000 easily.
Trade Plan: - Stay cautiously bullish above 24,300
- Aggressive buying only above 24,365 with good volume
- Strict stoploss if 24,000 is broken decisively
Disclaimer:
This blog post is intended solely for educational purposes. All information shared here is based on publicly available data, news reports, and personal analysis.
We do not provide any buy or sell recommendations. Investment in stock markets is subject to market risks. Always consult with a SEBI-registered financial advisor before making any investment decisions.
The author and this website assume no responsibility for any financial losses or gains incurred based on the information provided in this article.
📘 Key Learning from Today’s Market
- Strong stocks (like Reliance) can lift the entire index even during global tensions.
- Importance of key resistance levels (24,365) — Market needs strength to break.
- OI data helps in spotting critical make-or-break levels (24,300 today).
- Mixed RSI signals suggest cautious trading, not aggressive positions.
📣 What’s Your Take?
Do you think ******?
💬 Drop your thoughts in the comment section!