Index opens gap-up, stays range-bound above 24000 by GEPL Capital Ltd
Market News:
* Apollo Hospitals Enterprise Limited received the NCLT Chennai order for its composite scheme on Apr 9, 2026.
* Silicon Rental Solutions Limited secured a Rs.1.17 crore order from Infin Tech Rent Guru Private Limited for supply of 58 MacBook Pro units.
* Mahindra Holdings Limited approved acquiring a 26% stake in Neon Hybren to enable captive power sourcing from its upcoming solar plant in Punjab.
Technical Summary:
The index opened on a gap-up note and remained range-bound throughout the trading session, while sustaining well above the 24,000 level. The presence of significant put writing at this level indicates a bullish undertone in the market. On the daily scale, the index continues to hold above its key 20 DEMA, reinforcing the prevailing positive sentiment and indicating strength in the ongoing trend. On the sectoral front, Auto and Financial Services emerged as the top gainers, while the IT and CPSE indices underperformed during the session.
Levels to watch:
The Nifty has its crucial resistance 24200 (Pivot Level) and 24300 (Key Resistance). While support on the downside is placed at 23700 (Multiple Touches) and 23500 (Key Support)
What should short term traders expect?
The Index can LONG above 24100 for the potential target of 24250 the stop loss of 23900 level.
Technical Data Points
NIFTY SPOT: 24050 (+1.16%)
TRADING ZONE:
Resistance: 24200 (Pivot Level) and 24300 (Key Resistance).
Support: 23700 (Multiple Touches) and 23500 (Key Support).
STRATEGY: Bullish Till above 23500 (Key Support).
BANK NIFTY SPOT: 55929 (+2.02%)
TRADING ZONE:
Resistance: 56500 (Pivot Level) / 56800 (Key Resistance)
Support: 55400 (Pivot Level) / 54700 (Key Support)
STRATEGY: Bullish Till above 54700 (Key Support).
SEBI Registration number is INH000000081.
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