Nifty Sensex rising over 2%, reclaiming crucial resistance zones and with this, Indian stock markets witnessed a powerful surge today, According to a Bloomberg report, markets have wiped out all losses since US President Trump’s April 2 tariff announcement. This has sparked optimism, with broad-based buying across quality stocks.
Notably, the broader market saw significant strength, as Nifty Next 50, Smallcap 50, Midcap 100, Smallcap 200, and Microcap indices all closed with gains over 3%.
But is this momentum real or just a trap? Let’s break it down with data and charts. Let’s dive in for Market Prediction for 16 April.
Market Prediction for 16 April | Market Gains
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📢 Latest Trump Update:
Former U.S. President Donald Trump continues to influence global markets with his tough stance on trade and tariffs. Recently, Trump reiterated his call for higher tariffs on Chinese goods during a campaign speech, reviving fears of a trade war. Market participants are closely watching for potential policy shifts if Trump regains office in the upcoming U.S. elections.
Market Overview – The Story of 500 Points Gap up.
🔍 Nifty 50 Snapshot
| Open | High | Low | Close |
| 23,368.35 | 23,368.35 | 23,207.00 | 23,328.55 |
📊 Market Breadth (Nifty 50)
| ADVANCED | FLAT (<0.25%) | DECLINES |
| 49 | 0 | 1 |
📈 Nifty Movers
| TOP GAINERS | GAIN % | TOP LOOSERS | LOSS % |
| INDUSIND BANK | + 6.67 % | ITC | – 0.28 % |
| SHRIRAMFIN | + 5.17% | N/A | N/A |
🏦 Nifty Sectoral Performance
The overall sectoral performance was Bullish.
- Nifty Auto Closes with maximum gain of +3.39%
- Nifty It and PSU Bank closes with least gain of +1.50 %
- Nifty all sectors are closed in green.
🔍 Technical Analysis – Bulls are Back
The daily Nifty 50 chart shows strong bullish sentiment after a gap-up breakout above 20SMA. Though intraday price movement was sideways, Nifty managed to hold its 500+ point gain and closed near the day’s high.
Key Levels:
- Support: 23200 is the support as today’s day low.
- Resistance: 23300 is the nearest and previous resistance
Gap-ups continue to dominate, breaking resistance levels with strength. Let’s look at Price action and RSI:
- Nifty Crossed 20 SMA with a gap up and sustained over It. That means the Next target is 24800 Which was the Previous Resistance.
- On Hourly Chart, consolidation takes place which signals accumulation on resistance level.
- Daily RSI (14): Crossed 50, heading toward 60
- Hourly RSI: Near 70 – may act as a hurdle or show strong momentum if breakout continues.
📊 Open Interest (OI) Data
Today was expiry day of Sensex, Thant could be a reason for market to consolidate in tight Range.
- Support: 23300 (PE OI: 1 Cr. )
- Resistance: 23500 (CE OI: 96 Lkh )
🧮 OI Build-Up:
| Index | PRICE % | OI % | BUILDUP |
| NIFTY | 2.19% | 0.82% | Long |
| BANK NIFTY | 2.70% | 6.23% | Long |
| FINNIFTY | 2.95% | 4.81% | Long |
- 🔔 Interpretation: All three indices are showing long positions, confirming bullish sentiment.
🌐 FII & DII Data (Updating Soon.)
FII : Cr. Sell in Cash
DII : Cr. buy in Cash
🧠 Nifty 50 Prediction & Trade Plan
Bulls are Back.
- The bulls are clearly in control. With strong closing and broad-based participation, Nifty may test 23,350 and 23,500 in upcoming sessions.
- In case of a pullback, 23,250 is expected to act as solid support. A wait-and-buy strategy at support zones may be a wise approach, especially in a gap-up scenario.
📘 Key Learning from Today’s Market
Today’s market reminded us that a strong first candle in Nifty often leads to sideways movement for the rest of the day. Nifty’s first candle today was nearly 160 points, and it remained within a tight 50-point range afterward. Also, India VIX continues to cool, leading to premium melting – a key insight for option traders.
📣 What’s Your Take?
Do you think ******?
💬 Drop your thoughts in the comment section!