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Below the Quote on Closing Market Summary Thursday April 30th from Sachin Gupta , at Choice Equity Broking Private Limited

Indian equity benchmarks witnessed a negative close on 30^th April 2026. The index opened with a gap-down of 180.70 points at 23,996.95, reflecting weak initial sentiment. In the first half of the session, the index witnessed selling pressure, dragging it down to an intraday low of 23,796.85. However, the trend reversed in the latter half, with buying interest emerging at lower levels, pushing the index higher to an intraday high of 24,087.45. The index eventually settled near its opening level at 23,997.55, registering a decline of 180.10 points or 0.74%. On the daily timeframe, the index formed a Doji-like candlestick pattern, indicating indecision in the market. This structure reflects a balance between buying and selling pressure, suggesting that the next directional move will depend on a decisive breakout on either side of the range.

From a technical perspective, immediate support is placed in the 23,750–23,800 zone, while resistance is observed in the 24,200–24,250 range. The Relative Strength Index (RSI) stands at 50.28, hovering around the midpoint, indicating neutral momentum. The volatility index, India VIX, increased by 5.86% to close at 18.46, indicating a rise in market uncertainty. In the derivatives segment, notable call writing was observed at the 24,100 and 24,200 strikes, while put writing was concentrated at the 24,000 and 23,800 levels, indicating a defined trading range with a slight bearish bias.

Sectorally, the market witnessed broad-based weakness, with pressure seen across Financial Services, PSU Banks, Realty, and Consumer Durables, while limited resilience was observed in select pockets. Market breadth remained negative, with declining stocks significantly outnumbering advancing ones, reflecting cautious sentiment in the broader market.

The Bank Nifty index opened with a sharp gap-down of 522.95 points at 54,880.65, indicating weakness in the banking segment. It continued to face selling pressure in the first half, marking an intraday low of 54,440.25. However, a recovery was witnessed in the latter half, pushing the index to an intraday high of 55,111.60. The index eventually closed near its opening level at 54,863.35, registering a decline of 540.25 points or 0.98%. On the daily timeframe, the index formed a Doji-like candlestick pattern, indicating indecision and a lack of clear directional bias. This reflects a balance between buyers and sellers, suggesting that a breakout beyond key levels will be required for further clarity.

From a technical perspective, immediate support is placed in the 54,300–54,400 zone, while resistance is observed in the 55,400–55,500 range. The Relative Strength Index (RSI) stands at 45.54, indicating weakening momentum and a slight bearish bias.

Markets witnessed a volatile session with gap-down openings followed by a recovery in the latter half, resulting in indecisive candlestick formations across key indices. The rise in volatility along with weak market breadth suggests cautious sentiment among participants. Going forward, a decisive move beyond immediate support or resistance levels will be crucial in determining the next directional trend.

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