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Published on 09-04-2026 10:09 am

INTRADAY KICKER UPDATE: BUY INDEX FNO  NIFTY 13-Apr-2026 23800.00 PE BOOK PROFIT AT CMP 220 - Jainam Broking Limited.

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Published on 09-04-2026 10:06 am

Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at 23997 with a gain of 874 points. On the daily chart index has formed a sizable bullish candle and has closed above past three week's high which signals strength ahead. The chart pattern suggests that if Nifty breaks and sustains below 23870 level it would witness selling which would lead the index towards 23700-23500 levels. However, if index crosses above 24050 level it would witness pullback rally which would take the index towards 24300-24400.

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

Published on 09-04-2026 10:05 am

Market Outlook

The Nifty index witnessed a strong gap-up opening above the crucial 23,500 mark and extended its gains toward the 24,000 level, ultimately closing with an impressive rise of nearly 4%. On the derivatives front, fresh put writing was observed at lower levels, particularly at the 23,900 and 23,800 strikes, indicating an immediate support zone. While on the upside, significant call OI has placed at the 25000 strikes, suggesting strong overhead resistance zones. From a technical perspective, the 50-DEMA is placed around the 24,200 mark. A sustained move above this level could further strengthen the recovery and pave the way for an upside extension towards the 24,500 zone in the near term

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Published on 09-04-2026 10:04 am

BANKNIFTY

* The banking index extended its rally for a fifth consecutive session, surpassing its short-term 20-day exponential moving average (DEMA) and approaching the 50-DEMA.

* The index opened with a substantial upward gap and sustained strength throughout the session.

* Momentum remained positive, with all constituents closing in positive territory, led by AU Bank and IDFC First Bank.

* Immediate resistance is positioned near 57,300, while strong support is observed around 53,700.

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Published on 09-04-2026 10:04 am

NIFTY

* Markets surged sharply on Wednesday, extending gains for the fourth consecutive session, supported by favorable geopolitical cues.

* On the index front, the Nifty has approached its immediate hurdle around the 24,000 mark after four consecutive sessions of gains and may witness a breather at higher levels.

* However, the overall tone remains positive, with a support cushion placed in the 23,400 - 23,600 zone.

* Traders may focus on stock-specific opportunities across sectors, with a preference for rate-sensitive segments, while maintaining prudent position sizing amid elevated volatility.

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