IGI Logo

Below Quote on Pre-market comment for Wednesday April 07th by Hitesh Tailor, Research Analyst, Choice Broking

Indian equity markets are poised to open on a strong positive note on April 15. The GIFT Nifty is trading near 24,203, up by 326 points (+1.37%), signaling a firm start for the domestic benchmark indices. However, underlying global caution and persistent geopolitical uncertainties may keep market participants vigilant at higher levels.

In the previous session on April 13, 2026, Indian equity benchmarks witnessed a negative close amid global uncertainties. The index opened with a sharp gap-down of 461 points at 23,589.60, indicating weak initial sentiment, but formed its intraday low early at 23,555.60 and recovered steadily on the back of consistent buying interest, hitting a high of 23,907.40 before settling at 23,842.65, down 207.95 points (-0.86%). On the daily chart, a strong bullish recovery candle was formed post the gap-down opening, suggesting demand absorption at lower levels and a potential shift in near-term sentiment, subject to follow-through buying. Technically, immediate support is seen at 23,900–24,000, while resistance is placed at 24,250–24,300; RSI at 51.70 remains above the midpoint, indicating underlying strength, while India VIX rose 8.75% to 20.50, signaling a pickup in market uncertainty.

On April 13, 2026, the Bank Nifty index opened with a significant gap-down of 1,266.75 points at 54,646.00, reflecting weak initial sentiment. Similar to the broader market, it formed its intraday low of 54,356.20 early in the session and witnessed strong buying interest thereafter. The index rebounded sharply to an intraday high of 55,752.65 and closed at 55,605.05, ending with a marginal loss of 307.70 points (-0.55%). On the daily timeframe, the index formed a strong bullish recovery candle, indicating buying interest at lower levels and resilience in the banking space, with the overall price structure suggesting that dips are being bought into, supporting a positive undertone.

On April 13, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 1,983 crore, while Domestic Institutional Investors (DIIs) remained net buyers, purchasing equities worth over Rs 2,400 crore.

Given the improving undertone supported by recent recovery patterns, yet amid ongoing global uncertainties and elevated volatility, investors are advised to remain disciplined and selective on April 15, 2026. Buying on dips in fundamentally strong stocks may remain a prudent strategy, as demand is visible at lower levels. However, fresh aggressive long positions should be considered only after a decisive breakout above key resistance zones, which would indicate strengthening sentiment and the potential for a more sustained bullish trend.

Above views are of the author and not of the website kindly read disclaimer