Quote on Pre-market comment for Monday April 20th by Aakash Shah, Technical Research Analyst, Choice Broking
Below Quote on Pre-market comment for Monday April 20th by Aakash Shah, Technical Research Analyst, Choice Broking
Indian equity markets are expected to open on a mildly positive note on Monday (20th April 2026), supported by firm global cues and a rise in GIFT Nifty. GIFT Nifty is currently trading around 24,473, up by 53 points, indicating a positive start for domestic benchmark indices. Early trends also suggest a steady undertone as global equities remain stable and crude oil volatility has eased.
In the previous session (17th April 2026), benchmark indices ended higher. The Nifty 50 closed at 24,353.55, up 157 points (0.65%), while the Sensex gained 505 points to settle at 78,493.54, reflecting continued bullish sentiment in the market.
Sectorally, buying interest was broad-based across the market, with most sectoral indices ending in the green. Strength was seen in FMCG, metals, oil & gas, power, and capital goods stocks, which gained around 1–2%, indicating strong participation. Broader markets also remained resilient with midcap and smallcap indices advancing. However, selective profit booking was observed in IT and some defensive pockets, reflecting stock-specific consolidation despite the overall positive undertone.
From a technical perspective, the Nifty 50 continues to hold above the crucial 24,300 zone, reinforcing the near-term bullish trend. Immediate support is placed near 24,200–24,250, while resistance is seen around 24,550–24,600. A sustained move above this resistance band could extend the ongoing rally, while failure to hold higher levels may result in range-bound movement. This view is also supported by the index holding above key moving averages with a positive bias
The Bank Nifty remains in a positive structure, although some consolidation at higher levels cannot be ruled out. The index is likely to face resistance near 57,000–57,200, while support is placed around 56,200–56,100.
On the institutional front, as per provisional data, FIIs were net buyers on 17th April with inflows of around Rs.683 crore, while DIIs were net sellers with outflows of approximately Rs.4,721 crore, indicating mixed institutional participation. Meanwhile, India VIX stood around 17.20, remaining stable and indicating relatively lower market volatility and improved investor confidence
Overall, the market setup for today suggests a positive to range-bound opening, supported by global cues and strength in GIFT Nifty. However, after the recent upmove, some profit booking or consolidation at higher levels cannot be ruled out. Sustaining above the 24,550–24,600 zone will be crucial for further upside momentum.
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