IGI Logo

Published on 16-04-2026 10:13 am

Nifty Outlook

We had gone in yesterday cautioning that oscillators appear less positioned to achieve the 24400-24900 objectives right away. Volatility was contained yesterday, but persistent, which we expect today as well, ideally allowing dips to 23935 or 23760, before another upswing is attempted. Alternatively, if bulls manage to regroup near 24140, expect rise to 24350, but sustainability is doubted.

Click Here :- https://tinyurl.com/3xes7mt9

Please refer disclaimer at www.geojit.comSEBI Registration number is INH200000345

Published on 16-04-2026 10:12 am

Comments

Nifty weekly contract has the highest open interest at 25000 CE and 23000 PE while monthly contracts have the highest open interest at 25000 CE and 23000 PE. The highest OI addition was seen at 25000 CE and 24200 PE in weekly and at 24200 CE and 24000 PE in monthly contracts. FIIs decreased their future index long holdings by 9.38%, decreased future index shorts by 5.26% and in index options, 0.27% decrease in Call longs, 0.31% increase in Call short, 2.27% increase in Put longs and 4.38% increase in Put shorts.

Click Here :- https://tinyurl.com/3xes7mt9

Please refer disclaimer at www.geojit.comSEBI Registration number is INH200000345

Published on 16-04-2026 10:11 am

Market Outlook

The Indian benchmark indices witnessed a strong gap-up opening, with the Nifty index surpassing the 24,000 mark and inches higher towards the 24,200-24300 zone. From a technical perspective, the index has reclaimed its key 50-DEMA, indicating an improvement in market sentiment despite the ongoing geopolitical uncertainties. On the derivatives front, fresh put writing was observed at the 24,000 strike, suggesting an immediate support area. While on the upside, significant call OI has positioned at the 24,500 strike, marking a key resistance level. A decisive breakout above this level could pave the way for a potential move towards the 25,000 zone.

Click Here :- https://tinyurl.com/39v2f5pf

Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330

Published on 16-04-2026 10:08 am

BANKNIFTY

* The banking index decisively broke out above its consolidation range, supported by a positive bias established over the preceding four sessions.

* It opened with a substantial upside gap and sustained its momentum throughout the session, currently trading between the 50 and 100 - DEMA.

* Broad-based strength was observed across constituents, except for Federal Bank, ICICI Bank, and Axis Bank.

* Immediate resistance is positioned near 57,800, while key support lies around 55,000.

Click Here :- https://tinyurl.com/yf48f7au

Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330

Published on 16-04-2026 10:08 am

NIFTY

* Nifty witnessed a strong rebound on Wednesday, extending gains after the recent consolidation phase, supported by favourable global cues.

* From a technical perspective, the Nifty has again reclaimed the 24,000 mark, indicating strengthening momentum in the ongoing recovery phase.

* We are now eyeing the index to inch towards 24,350 - 24,600 zone while the major hurdle would be around 24,800 i.e. 200 DEMA while the support has shifted higher to the 23,900 - 23,600 range.

* We thus reiterate our positive yet cautious stance with focus on stock selection and overnight risk management.

Click Here :- https://tinyurl.com/yf48f7au

Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330