The NSE Nifty 50, which recovered in Tuesday’s session after the mayhem on Monday, faces resistance at the 22,700-22,800 levels, according to market analysts.

The NSE Nifty 50 signalled continued buying interest and strength in Tuesday’s sessions, analysts noted.

Technically, the Nifty formed a green candle and sustained above the 22,320 hurdle, according to Hrishikesh Yedve, assistant vice president of technical and derivatives research at Asit C. Mehta Investment Intermediates Ltd.

Yedve identified 22,800 as the immediate resistance level and 22,320 as key support.

“A decisive move above 22,800 could open the door for further upside,” Yedve said.

He recommends to traders to keep an eye on these key levels in order to catch potential trading opportunities.

From a technical standpoint, the subzone of 22,650-22,700 corresponds with the 20-Day Exponential Moving Average and the bearish gap, presenting a key resistance for the benchmark index, according to Osho Krishnan, Senior Analyst, Technical and Derivatives of Angel One.

“A sustainable breakthrough could only trigger the beginning of a substantial rally, reflecting increased bullish momentum,” Krishnan said.

Krishnan identified 22,350-22,250 as a solid support zone for offering potential reassurance for traders during any declines.

“This could serve as a strategic safety net, especially with the crucial support level at 22,000 following closely behind,” the analyst stated.

The Bank Nifty index also ended the session on a strong note after opening with a gap-up, which indicated strength, and maintained positive momentum throughout Tuesday, analysts said.

On a technical level , the index formed a green candle and crossed the hurdle of the 100-Day Exponential Moving Average placed around 50,150, according to Yedve.

The 50,750–50,800 zone will serve as a key resistance area on the upside, the analyst stated.

“A sustained move above 50,800 could trigger a fresh rally, potentially taking the index towards 51,500–52,000 levels,” Yedve said.

Market Recap

The benchmark equity indices snapped the three-day losing streak and ended with gains on Tuesday. This comes after the Asian markets rebounded after a historic loss, led by gains in Japan.

The NSE Nifty 50 ended 374.25 points or 1.69%, higher at 22,535.85, while the BSE Sensex closed 1,089.18 points or 1.49%, higher at 74,227.

Intraday, Nifty 50 rose as much as 2.42% to 22,697.20. This is the highest percentage gain since Nov. 22, 2024. Sensex was up 1,721.49 points to 74,859.39, the highest percentage gains since June 3, 2024.

F&O Cues

  • Nifty April Futures up by 1.72% to 22,630 at a premium of 95 points.

  • Nifty April futures open interest down by 3.2%.

  • Nifty Options April 9 Expiry: Maximum Call open interest at 25,450 and Maximum Put open interest at 20,400.

  • Put-Call ratio at 1.03, with highest change in Put open interest at 20,400.

  • Securities in ban period: Birla soft, Hindustan Copper, Manappuram Finance.  

FII/DII

Foreign portfolio investors continued selling stocks for the seventh straight session on Tuesday, net offloading Rs 4,994.2 crore worth of shares, according to the provisional data from the National Stock Exchange.

Domestic institutional investors remained net buyers for the second day as they mopped up equities worth Rs 3,097.2 crore.

Global Cues

Japan stocks saw a steep slump, while the Korean market had a marginal decline as the White House’s decision to proceed with multiple substantial tariffs on trade partners, especially a 104% levy on China, left markets round the globe rattled.

The Nikkei 225 slipped sharply to trade 3.47% down. The KOSPI was down 0.69%. The S&P ASX 200 was trading 1.19% down as of 7:14 a.m.

On Tuesday, the Dow Jones Industrial and Nasdaq Composite ended 0.84% and 2.15% lower, respectively, following a day of volatile trading. The S&P 500 ended 1.57% lower, on the cusp of bear territory.

The dollar index was trading 0.55% down at 102.39 as of 7:16 a.m. Brent crude was trading 1.49% down at $60.64 a barrel. The Bloomberg spot gold was trading 0.65% high at $3,002.71 an ounce.

The GIFT Nifty was trading 0.54% or 122 points down at 22,396.50 as of 7:18 a.m.

Major Stocks In The News

  • ZEE Media: The company is set to raise $46.59 million (about Rs 399.78 crore) through foreign currency convertible bonds.

  • Senco Gold: The firm’s retail growth saw a 23% jump, and reported the highest ever fourth quarter revenue, upto Rs 1,300 crore. Its topline for the fiscal crossed Rs 6,200 crore. Diamond jewelry sales surged by 39%, and the stud ratio saw a slight improvement, rising to 10.9% from 10.5%.

  • Shyam Metallics: The company reported a 13% year-on-year growth in stainless steel sales for the month of March, reaching 6,619 metric tonnes. For fiscal 2025, stainless steel sales saw a strong 66% year-on-year increase, totalling 84,404 metric tonnes. In the aluminium foil segment, sales in March rose by 2% YoY to 1,991 metric tonnes. On a full-year basis, fiscal 2025 aluminium foil sales witnessed a 27% YoY growth, amounting to 20,791 metric tonnes

  • Signature Global: The company has achieved pre-sales of Rs 1,620 crore for the fourth quarter of the financial year 2025, showing a growth of 42% compared to last year, surpassing the financial year 2025 guidance. The average sales realization of the company stood at Rs 12,457 per sq. ft this year compared to Rs 11,762 per sq. ft. in 2024. Collections were Rs 1,170 for the fourth quarter, showing a 16% uptick.

Currency Market

The rupee closed weaker against the US dollar on Tuesday, extending its losses from the previous session. Investors are expected to remain cautious ahead of the Reserve Bank of India’s policy decision and they will continue to assess the impact of US tariffs.

The domestic currency weakened 41 paise to close at 86.25 per dollar after opening at 85.88. It had settled at 85.84 on Monday.

. Read more on Markets by NDTV Profit.The NSE Nifty 50 ended 374.25 points or 1.69% higher at 22,535.85, while the BSE Sensex closed 1,089.18 points or 1.49% higher at 74,227.  Read MoreMarkets, Business, Notifications 

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