In the history of the Indian stock market, today marks the second-largest gap-down opening ever recorded on Dalal Street. Most indices opened with a massive 5% gap down, second only to April 1992, when markets gapped down by 6.58%. The trigger? Escalating global tariff tensions, which have already caused the US markets to plummet over 1,400 points.
In such uncertain times, investors are left confused — should they hold onto their portfolios or switch to cash? The pain is visible across sectors, and it’s hard to predict which stocks will find support at these levels. On top of that, traders are grappling with another challenge: volatility.
The S&P Volatility Index (VIX) shot up by 50%, and India VIX soared to 23, a 62% spike from yesterday’s close. As a result, option premiums have tripled, adding another layer of complexity.
Let’s break down what happened today — and what might happen tomorrow — by analyzing the latest market data and charts.
MARKET OVERVIEW:
Despite the steep gap-down opening, Indian markets showed impressive intraday recovery, closing near the day’s high — but still down around 3% from the previous close. Nifty recovered nearly 400 points from the day’s low..
NIFTY 50 (OHLC)
| OPEN | HIGH | LOW | CLOSE |
| 21,758.40 | 22,254 | 21,743.65 | 22,161.60 |
MARKET BREADTH
| ADVANCED | FLAT (<0.25%) | DECLINES |
| 00 | 4 | 46 |
NIFTY MOVERS
| TOP GAINERS | GAIN % | TOP LOOSERS | LOSS % |
| HINDUNILVR | 0.24 % | TRENT | -14.70 % |
| ZOMATO | 0.22 % | JSWSTEEL | -7.53 % |
NIFTY SECTORAL PERFORMANCES
- Nearly all Nifty sectors ended the day with more than 3% losses.
- FMCG performed the best (least loss) at -1.10%
- Realty (-5.69%) and Auto (-3.78%) were the worst performers
- No sector ended in green, which is concerning for retail investors
TECHNICAL ANALYSIS:
- On the daily chart, Nifty formed a bullish candle recovering 400 points from intraday lows. However, it’s still down 750 points from the last closing.
The previous low of 21,964 remains intact on a closing basis. 
The chart suggests that support near 21,964–22,000 is still valid. If broken, expect a sharp fall or another gap-down.- Hourly charts reflect the same bearish sentiment.
- Previous support at 22,500 is now a resistance zone
INDICATORS :
RSI (14) Daily: 33 – approaching support at 30
RSI (14) Hourly: Touched 20 (oversold) and rebounded to 33 – indicating possible intraday upside till 60-70 area.
OPEN INTEREST ANALYSIS
- Support – 22,000 – PE – 81 Lkh OI.
- Resistance -22,500 – CE – 45 Lkh OI.
Overall, OI data does not show very strong support/resistance. Best to follow price action and market sentiment.
OI BUILDUPs
| Index | Price % | OI % | Buildup Type |
| NIFTY | -2.78% | 9.11% | Short Buildup |
| BANK NIFTY | -2.75% | 8.38% | Short Buildup |
| FINNIFTY | -3.15% | 11.48% | Short Buildup |
Short buildup across indices confirms heavy bearish sentiment.
MARKET PREDICTION AND TRADE PLAN :
It’s difficult to predict tomorrow’s move due to lack of reliable support. The market may:
- Retest 22,300–22,500 resistance zone
- Likely to face selling pressure at those levels
- Prepare for PE-side (put) trades if market turns down again
India VIX is at 20+ — market is extremely volatile.
Maintain low position sizing to manage risk.
KEY LEARNING FROM TODAY:
- Never risk your full capital in a single trade
- Massive gap-ups or gap-downs are part of the game
- Only strong money management can help survive volatile days
- Avoid trading in extreme volatility if you’re a beginner
Start Your Trading Journey Today!
Open Your Demat Account with Upstox & Get Full Support!
Open Account Now
Want to Learn Trading?
Get access to premium courses at attractive prices with UpLearn.
Let’s discuss tomorrow’s market! Drop your comments below. 
