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Below the Quote on Post-market comment by Mandar Bhojane, Research Analyst, Choice Broking

Benchmark indices staged a strong rebound on April 8, snapping a three-day losing streak as across-the-board buying lifted market sentiment. The recovery was in sync with a broader rally across Asian and European markets. Positive global cues, easing trade war fears, and expectations of supportive monetary policy boosted investor confidence. At close, the Sensex surged 1,089.18 points (1.49%) to end at 74,227.08, while the Nifty 50 jumped 374.25 points (1.69%) to settle at 22,535.85.

Today’s rally was driven by optimism that US-China trade tensions might not significantly hurt global growth, and hopes of a potential RBI rate cut to address liquidity concerns further supported the upmove. The India VIX, a gauge of market fear, dropped sharply, signaling a decline in investor anxiety and reinforcing the bullish undertone.

Technically, Nifty formed a neutral candle with wicks on both sides, reflecting indecision after a strong intraday move. Key resistance levels are now placed at 22,800 and 23,000, while on the downside, 22,400 to 22,200 will act as immediate support zones. A strong bounce was seen from support levels near 22,000, and if the index continues to hold above this mark, any dip will likely attract buying interest.

With a 4.4% recovery from the recent swing low in just two sessions, along with good volume, the recent pullback indicates renewed buying interest. Going forward, traders should watch for sustained moves above resistance zones and use dips near supports as fresh entry opportunities. Overall, the short-term market outlook remains positive with cautious optimism.

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