By laksh5382 
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open high on Tuesday, which keeps an eye on a reversal in the Asian markets.
Gift Nifty’s trends also indicate a positive start for the Indian benchmark index. The gift Nifty was trading around 22,650 levels, a premium of about 386 points from the previous bandh of the Nifty Futures.
On Monday, domestic equity market indices saw its biggest single-day decline in 10 months, with benchmark Nifty to fall below 50 22,200.
Sensex 2,226.79 points, or 2.95%, to close at 73,137.90, while Nifty 50 reduced 742.85 points, or 3.24%, at 22,161.60.
What to expect from Nifty 50 and Bank Nifty here today:
Nifty Oi Data
Derivative data continues to reflect the tilt of a strong recession. Call writers have decisively defeated put writers, strengthening negative ventures.
“The 22,500 strikes viewed adequate call writing (45.23 lakh contracts), cementing it as a major resistance. Meanwhile, significant writing in 22,000 strikes (80.79 lakh contracts) suggests concrete support at the lower level, although the beginning to weaken the defensive stance from buyers.
Put-Call Ratio (PCR) sinked from 0.60 to 0.58, showing increasing caution. With the level of maximum pain at 22,750, bears appear to absorb every rapid effort, which increases the chances of further flow.
Nifty 50 prediction
The Nifty 50 saw large -scale sales on 7 April and reduced the day by 742 points, which was closed by climbing day and partially filled the opening down gap.
“A long bull candle was formed on a daily chart on a new swing of 21,743 levels. Technically, this market action indicates the emergence of buying interest after sharp weakness. Monday’s swing lows can also be considered a new lower low form around 21,800 levels,” said Negaraja Shetty, a senior technical research analyst of HDFC securities.
According to him, the underlying trend Nifty 50 Rapid negative with high volatility.
Shetty said, “Monday’s swing low 21,743 can now be considered a significant support for short -term and one may be expected to leave from the lower level. Immediate resistance is placed on 22,400,” Shetty said.
SAMCO Securities, Technical Research Analyst Om Mehra, said that the Nifty 50 index decisively slipped below its 20-day, 50-day and 100-day exponential moving average (DEMA), which has spoiled the short-term trend outlook.
“The Superintendent Indicator has also flipped negatively, weakened further speeds. The daily RSI falls rapidly and now stands at 34, indicates growing pressure as it remains on the verge of the oversold area. India Wicks is 65.62% Intrad at 22.79, finally seen during the Kovid decline, finally seen, an increase, an increase, has helped to stabilize the independent A break below it can accelerate the negative side, ”said Mehra.
Today, according to the stock market co-founder VLA Ambala, the Nifty 50 index has already cured about 17% from its 2024 peaks, and it can fall even more, probably 21,270 level tests seen before the election results.
“Meanwhile, for investors for a long time with a three-year scene, this improvement can be seen as a good opportunity to buy quality shares at low prices, while short-term traders are advised to be vigilant. In the current situation, a ‘cell-on-raise’ strategy is more suitable for managing high market volatility. The danger of dumping is more suitable for manipulating high market volatility. The danger of dumping is more appropriate.” Ambala said.
Keeping in mind the development of the ongoing market, the Nifty will receive support between 50 to 2150 and 22,000 and resistance between 22,300 and 22,450.
Bank nifty prediction
The Bank Nifty Index on Monday declined 1,642.60 points or 3.19%to close at 49,860.10, made a green candle on the daily chart on Monday.
,Bank nifty The index defended the 50-day Exonteal Moving Average (50-DEMA) support, placed in about 49,500 and formed a green candle on the daily chart, indicating strength at the lower levels. Inverted, 50,650 – 50,750 area will serve as a major resistance area. A continuous trick above 50,750 will require to trigger a fresh rally in the index, “Hrishikesh Yedve, AVP technical and derivative research said in Asit C. Mehta Investment Interridies Ltd..
Bajaj Broking Research highlighted that the bank Nifty was closed below 20- and 50-day EMA.
“The index of the bank Nifty remains immediate bias and only a formation of high and high levels in the daily chart will indicate a stagnation in the current corrective trend. The bank has an immediate resistance at 51,000 levels, while the significant support for the lower side is 49,000 – 48,700. The current week’s season,” Bajaj Brooking Research said.
According to Om Mehra, the Bank Nifty Index slipped below its 20-day and 50-day EMA, and the recent Bulish Outlook has been rejected by the breakdown of its flag formation.
“The Nifty Bank is now back to 61.8% Fibonacci level near 49,300, which can act as a make-or-break zone. A decisive violation below this level can open the door for another decline towards 48,700 zone. 2.84% respectively.
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