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Below the Quote on Closing Market Summary Thrusday April 23rd from Sachin Gupta , at Choice Equity Broking Private Limited

Indian equity benchmarks witnessed a negative close on 23rd April 2026. The index opened with a gap-down of 175.75 points at 24,202.35, reflecting weak initial sentiment. It traded within a narrow range during the session, marking an intraday high of 24,310.20 and a low of 24,134.80. The index faced selling pressure at higher levels and eventually settled at 24,173.05, registering a decline of 205.05 points. On the daily timeframe, the index formed a Gravestone Doji-like candlestick pattern, indicating rejection from higher levels and the presence of selling pressure near the highs. This pattern reflects indecision with a bearish bias, suggesting that further downside may emerge if follow-up selling is seen.

From a technical perspective, immediate support is placed in the 23,950–24,000 zone, while resistance is observed in the 24,350–24,400 range. The Relative Strength Index (RSI) stands at 53.24, hovering near the midpoint, indicating a neutral to slightly weak momentum. The volatility index, India VIX, increased by 1.58% to close at 18.59, indicating a slight rise in market uncertainty. In the derivatives segment, notable call writing was observed at the 24,300 strike, while put writing was seen at the 24,200 level, indicating a narrow trading range and mixed positioning among market participants.

Sectorally, the market witnessed broad-based weakness, with significant pressure in Auto, Financial Services, Private Banks, and Realty sectors. Market breadth remained negative, with declining stocks outnumbering advancing ones, indicating cautious sentiment across the broader market.

The index opened with a sharp gap-down of 515.50 points at 56,608.95, reflecting weakness in the banking space. It attempted a recovery during the session, marking an intraday high of 56,868.70, but failed to sustain at higher levels. The index slipped to a low of 56,217.15 and eventually closed at 56,305.00, registering a decline of 819.45 points or 1.43%. On the daily timeframe, the index formed a bearish candlestick, indicating sustained selling pressure and weakness in the banking segment. The structure suggests that sellers maintained control throughout the session.

From a technical perspective, immediate support is placed in the 55,700–55,800 zone, while resistance is observed in the 56,850–57,000 range. The Relative Strength Index (RSI) stands at 53.40, indicating a gradual loss of momentum while still holding near the midpoint.

Markets witnessed a weak session with gap-down openings and sustained selling pressure across key sectors. The formation of indecisive to bearish candlestick patterns and negative market breadth indicates cautious sentiment among participants. Going forward, holding key support levels will be crucial, while any recovery will require strong follow-through buying to regain momentum.

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