Market Analysis for April 12th
Bullish Momentum in the First Half:
In yesterday’s trading session, the market displayed strong bullish momentum during the initial half. Buyers aggressively pushed BankNifty to a high of 49057, marking a significant surge in the index.
Sellers Take Control in the Second Half:
However, the bullish trend was short-lived as sellers regained control in the second half of the trading session. Despite the promising opening at 48853, BankNifty faced downward pressure, and the index eventually closed around 48912.
Factors Driving Market Movement:
The recent bullish momentum in BankNifty can be attributed to multiple factors. Positive quarterly results from SBI and the breakout in HDFC Bank contributed to investor optimism and buying interest.
Support and Resistance Levels:
For today’s trading, key support levels for BankNifty are identified at 48400 and 48300. On the upside, resistance levels are anticipated at 49500 and 49600, presenting crucial thresholds for market movement.
Stay informed and adapt your trading strategies accordingly amidst the dynamic market conditions.
Nifty Analysis for April 12th
New High and Continued Bullish Sentiment:
Nifty continued its upward trajectory in yesterday’s trading session, reaching new highs and closing near its opening level. The market witnessed significant interest from buyers, particularly in metal stocks, indicating sustained bullish sentiment.
Economic Indicators Driving Market Sentiment:
The positive momentum in Nifty was further supported by favorable economic indicators. ADB forecasted India’s GDP growth for the fiscal year 2025, at 7%, bolstered investor confidence and contributed to the overall bullish outlook.
Key Levels from Yesterday’s Trading:
In yesterday’s session, Nifty recorded a low of 22676 and a high of 22776. These levels serve as crucial reference points for understanding market dynamics and potential price movements.
Support and Resistance Levels for Today:
For today’s trading, Nifty’s immediate support levels are identified at 22550 and 22600. On the upside, resistance levels are anticipated at 22950 and 23050, offering key benchmarks for traders to monitor.
