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Below the Quote on Closing Market Summary Wednesday April 22nd from Sachin Gupta ,at Choice Equity Broking Private Limited

Indian equity benchmarks witnessed a negative close on 22^nd April 2026. The Nifty index opened with a gap-down of 105.75 points at 24,470.85, indicating a cautious start to the session. It traded within a limited range, marking an intraday high of 24,515.95 and a low of 24,352.90. Selling pressure remained through the session, with the index closing near its day’s low at 24,378.10, registering a decline of 198.50 points or 0.81%. On the daily timeframe, the index formed a bearish candle with the close near the day’s low, indicating sustained selling pressure throughout the session. This reflects weakness in the short term and suggests that sellers maintained control into the closing hours.

From a technical perspective, immediate support is placed in the 24,100-24,150 zone, while resistance is observed in the 24,550-24,600 range. The Relative Strength Index (RSI) stands at 56.44, remaining above the midpoint level but showing signs of slight cooling from higher levels. The volatility index, India VIX, rose by 4.38%, indicating a mild increase in market uncertainty. In the derivatives segment, notable call writing was observed at the 24,500 and 24,600 strike levels, indicating resistance zones. On the put side, significant writing at 24,400 and 24,300 suggests support at lower levels.

Sectorally, the market witnessed mixed performance, with notable weakness in IT stocks, which dragged the broader indices, while selective buying was seen in FMCG, Oil & Gas, and Realty sectors. Market breadth remained slightly positive but lacked strong momentum, indicating selective participation.

The Bank nifty index opened with a gap-down of 208.10 points at 57,163.35, reflecting a subdued start. It traded within a range, recording an intraday high of 57,438.20 and a low of 57,002.15. The index eventually settled at 57,124.45, declining by 247 points or 0.43%. On the daily timeframe, the index formed a Doji-like candlestick pattern, indicating indecisiveness among market participants. This reflects a balance between buyers and sellers and suggests that a breakout on either side may determine the next directional move.

From a technical perspective, immediate support is placed in the 56,800-56,900 zone, while resistance is observed in the 57,450-57,550 range. The Relative Strength Index (RSI) stands at 57.83, holding above the midpoint level, indicating a mildly positive undertone despite the day’s decline.

Markets witnessed a mild corrective session following recent gains, with selling pressure visible in the latter half. While the broader trend remains positive, rising volatility and resistance near higher levels suggest caution. A decisive move beyond key levels will be crucial to determine the next directional trend.

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