IGI Logo

Published on 27-04-2026 10:08 am

Nifty

Nifty opened with a downward gap and selling pressure throughout the session dragged it lower to end negative . Nifty closed at 23898 with a loss of 275 points. On the daily chart the index has formed a long Bearish candle forming lower High-Low compare to previous session indicating negative bias. The chart pattern suggests that if Nifty breaks and sustains below 23800 level it would witness selling which would lead the index towards 23680-23600 levels. However, if index crosses above 24000 level it would witness pullback rally which would take the index towards 24100-24200.

Click Here :- https://tinyurl.com/mpjc4b8c

Please refer disclaimer at https://jainam.in/SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785

Published on 27-04-2026 10:04 am

Market Outlook

The Nifty index extended its losses for the third consecutive session, weighed down by rising crude oil prices, and settled the week with fall of nearly 2%. From a technical perspective, the index has slipped below the crucial 24000-23900 support zone, indicating a shift in market sentiment from bullish to cautious undertone. On the derivatives front, fresh call writing at the 24,000 strike, along with put unwinding, suggests that this level may now act as immediate resistance in the near term. Going ahead, the 23500-23600 zone is likely to provide a downside cushion, where the index may witness some consolidation before the next directional move.

Click Here :- https://tinyurl.com/y5szm7k3

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

Published on 27-04-2026 10:03 am

BANKNIFTY

* The banking index extended its bearish trajectory, closing negative for a third consecutive session, showed weekly close on a weaker note after two weekly gains earlier.

* The index opened on a flat bias; however, selling pressure intensified in early session

* Momentum remained mixed, as AU Bank and SBI showed relative strength, while Union Bank and ICICI Bank underperformed.

* Immediate resistance is observed near 57,100, with key support around 55,000.

Click Here :- https://tinyurl.com/b2vwchw2

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

Published on 27-04-2026 10:02 am

NIFTY

* Nifty remained under pressure on Friday, extending the ongoing corrective phase amid weak cues.

* The Nifty opened on a subdued note but came under sustained selling pressure as the day progressed.

* As Nifty slipped below its crucial support of 23,900 i.e. 20 DEMA, we may see the bias changing to negative, with next cushion at 23,500 level.

* A rebound towards resistance is likely to face selling pressure unless supported by easing crude prices and improved global cues.

* Traders should adopt a selective trading approach, and focus on stock-specific opportunities while keeping a check on the position size

Click Here :- https://tinyurl.com/b2vwchw2

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

Published on 27-04-2026 09:53 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 24000 CE and 23000 PE in weekly and at 24000 CE and 23900 PE in monthly contracts. FIIs decreased their future index long holdings by 5.85%, increased future index shorts by 3.55% and in index options, 33.08% increase in Call longs, 5.78% increase in Call short, 19.36% increase in Put longs and 8.56% increase in Put shorts.

Click Here :- https://tinyurl.com/yy6jrbb4

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