Nifty50 Analysis Based on Today's Closing

The Nifty 50 index closed at ₹23,165.70 on April 1, 2025, down by 354 points (-1.50%)

Analysis Based on Today's Closing

Key Support Levels

Immediate Support: ₹23,100

This level aligns with the 20-day EMA and is a critical short-term support. A breakdown below this could lead to further downside.

Next Support: ₹22,900

If ₹23,100 is breached, the next significant support lies at ₹22,900, which could act as a strong demand zone.

Key Resistance Levels

Immediate Resistance: ₹23,400

This level, which was previously a support, now acts as resistance. A recovery above this level could indicate a reversal.

Next Resistance: ₹23,650

Sustaining above ₹23,650 could lead to a test of ₹23,800, which is a critical resistance for bullish momentum.

Scenario Analysis

Bearish Breakdown

If Nifty 50 falls below ₹23,100, it could test ₹22,900.
A breakdown below ₹22,900 could lead to further weakness, targeting ₹22,700 or lower.

Bullish Recovery

If Nifty 50 reclaims ₹23,400, it could target ₹23,650.
A breakout above ₹23,650 could lead to ₹23,800, signaling a potential trend reversal.

Market Sentiment

The market sentiment remains cautious due to global headwinds, including concerns over U.S. tariff policies.

Sectors like IT and banking faced significant pressure, contributing to today's decline.

NOTE: Please note that this analysis is for informational purposes only and should not be considered as financial advice or a recommendation to buy or sell any securities. Always conduct your own research and consult with a certified financial advisor before making any investment decisions.