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Indian equity benchmarks witnessed a positive close on 21st April 2026. The index opened on a flat note with a marginal gap-up of 9.70 points at 24,374.55, indicating a steady start to the session. Buying momentum strengthened as the day progressed, with the index maintaining an upward trajectory throughout. It recorded an intraday low of 24,354.90 and surged to a high of 24,601.70, eventually closing near the day’s high at 24,576.60. The index registered a gain of 211.75 points or 0.87%. On the daily timeframe, the index formed a strong bullish Marubozu candlestick with minimal wicks, indicating sustained buying interest across the session. This pattern reflects strong bullish momentum and suggests the possibility of continuation of the upward trend, subject to follow-through buying.

From a technical perspective, immediate support is placed in the 24350-24400 zone, while resistance is observed in the 24700-24750 range. The Relative Strength Index (RSI) stands at 59.66, indicating strengthening momentum and approaching the overbought zone, which supports the prevailing bullish bias. The volatility index, India VIX, declined by 6.69% to close at 17.53, reflecting reduced market volatility and improved investor confidence. In the derivatives segment, notable call writing was observed at the 24,700 and 24,800 strike levels, indicating resistance zones. On the put side, significant writing at 24,500 and 24,400 levels suggests strong support at lower levels.

Sectorally, the market witnessed broad-based buying, with strong participation from Financial Services, Private Banks, Realty, and FMCG sectors. Market breadth remained positive, with advancing stocks outnumbering declines, indicating widespread participation in the up move.

The index opened with a gap-up of 241.25 points at 56,823.60, reflecting strength in the banking space. It maintained a strong upward bias throughout the session, marking an intraday low of 56,696.30 and rallying to a high of 57,456.30. The index eventually settled near its high at 57,371.45, registering a gain of 789.10 points or 1.39%. On the daily timeframe, the index formed a bullish Marubozu like candlestick with small wicks, indicating sustained buying interest and strong momentum in the banking sector. This structure supports the continuation of the upward trend, provided buying interest persists.

From a technical perspective, immediate support is placed in the 56900-57000 zone, while resistance is observed in the 57700-57800 range. The Relative Strength Index (RSI) stands at 59.21, indicating strengthening momentum and supporting the bullish outlook.

Markets extended their gains with strong bullish momentum supported by broad-based participation and declining volatility. The formation of strong bullish candles across indices indicates sustained buying interest. Going forward, holding above key support levels and a decisive move beyond resistance zones will be crucial for continuation of the ongoing uptrend.

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