April 11, 2025 — Indian market benchmark indices Sensex and Nifty 50 are set for a higher opening on Friday even as global market cues weaken because of renewed worries about an emerging US-China trade war.
As per trends on the Gift Nifty, the market will open with a gap-up. The Gift Nifty was quoted at around the 22,950 level, showing a premium of almost 470 points above the last close of Nifty futures.
Market mood is presently dominated by economic and geopolitical issues such as US tariff policy and world inflation. Higher volatility is to be expected, particularly with the start of the earnings season and pivotal US and Indian inflation numbers.
Indian equity markets were closed on Thursday as a mark of respect on the occasion of Mahavir Jayanti. On Wednesday, the domestic indices saw a downfall. The Sensex declined 379.93 points (0.51%) to close at 73,847.15, while the Nifty 50 declined 136.70 points (0.61%) to close at 22,399.15.
Nifty 50 Outlook
Nifty 50 has indicated short-term weakness after falling below crucial technical levels and creating a bearish candlestick on the daily chart. It is under pressure below the 21-day Exponential Moving Average (EMA), with resistance around the 22,500 level.
Analysts note that unless the index breaks the resistance, it can move lower towards the 22,000 level. If a breakout takes place, however, the index can rally towards 22,750–22,800 levels. Momentum oscillators like RSI are still muted, and the MACD indicators point to further bearishness.
Open Interest (OI) figures point to high call writing at 22,500 and 22,800 strike prices, indicating strong resistance, while put writing on the 22,300 level makes it an important support area.
The levels of support are at 22,250, 22,050, and 21,850, while resistance can be expected at 22,750 and 22,980. The broader support lies in the range 21,800–21,750, with a fall below 21,750 likely to set the course for further decline to 21,300.
Bank Nifty Outlook
Bank Nifty closed lower by 0.54% at 50,240.25 on Wednesday, forming a bearish candle that signals consolidation with minimal buying interest. The immediate resistance is at 51,000, and a breakout above this may initiate a rebound towards 51,500–52,100, which coincides with the earlier gap-down levels.
The support is located near 49,000–48,700. The index is currently ranging between the 38.2% and 50% Fibonacci retracement levels, providing a short-term support area.
Though Bank Nifty remains above the daily Supertrend indicator, it is directionless. A clear break above 50,800 or below 49,160 must happen to show a clear trend.
Volatility Watch
India VIX, an indicator of market volatility, continues to remain high at 21.43, reflecting risk perception. Analysts indicate choppiness to continue in the near term as markets ride through macroeconomic uncertainty and corporate earnings announcements.
Disclaimer: This article is for information purposes only and shall not be considered as financial advice. The information provided is based on the analysis of market analysts and may not be the actual market outcomes. Readers are requested to consult a certified financial advisor before making any investment decisions.
