Technical Overview – Nifty 50
The Nifty50 witnessed a gap-down opening after a weekend and traded in a lower high lower low formation throughout the day and drifted below 22,400 levels. The index has formed a red candle on the daily chart suggesting a profit booking from the higher levels.
The Nifty50 on the daily chart has drifted below its 9 & 21 EMA and the slope of the EMA is tilted lower. The RSI (14) on the daily chart has taken a trend line resistance at 70 levels and prices have drifted below 50 levels with a bearish crossover.
The Index has formed a shooting star candle stick pattern on the weekly chart near the upper band of the rising channel pattern. Presently the market sentiments have shifted to sell-on-rise mode with immediate resistance placed at 22,500 levels and if prices drift below 22,000 levels then the gate is open till 22,000 levels.
Technical Overview – Bank Nifty
The Bank Nifty on the daily chart has drifted below its 9 and the RSI (14) on the daily chart has taken a trend line resistance at 70 levels and prices have drifted below 55 levels with a bearish crossover.
The Bank Nifty is trading in a rising channel pattern and presently it has taken resistance near the upper band of the pattern and drifted lower. Presently the market sentiments have shifted to sell-on-rise mode with immediate resistance placed at 48,500 levels and if prices drift below 47,500 levels then the gate is open till 47,000 levels.
Indian markets:
- Indian stock market benchmarks, the Sensex and the Nifty 50 closed over a per cent lower for the second consecutive session on Monday, April 15.
- Investor sentiment dampened as equities across various sectors witnessed a sell-off, spurred by escalating tensions in West Asia. This followed Iran’s launch of over 300 missiles and drones towards Israel on Saturday, in response to a suspected Israeli attack on its embassy in Syria earlier.
- With the exception of the oil & gas and metal sectors, all other sectoral indices closed in negative territory.
- Both the BSE midcap and smallcap indices experienced a decline of 1.5 percent each.
Global Markets:
- Monday witnessed declines in Asia-Pacific markets as investors assessed the ramifications of Iran’s significant drone and missile strikes on Israel over the weekend. Attention also turned to upcoming pivotal economic data releases from China and Japan later in the week.
- Japan’s Nikkei 225 edged down by 0.74%, mitigating some losses. Meanwhile, the broader Topix index dipped 0.23%.
- South Korea’s Kospi index slipped by 0.42%, with the smaller-cap Kosdaq index also declining by 0.94%, reaching its lowest point since February 13.
- In Australia, the S&P/ASX 200 experienced a relatively minor decline compared to other Asian markets, down by 0.46%, marking its third consecutive day of losses.
- However, mainland China’s CSI 300 index defied the trend, surging by over 2%, achieving its most significant single-day gain since February 6. On the other hand, Hong Kong’s Hang Seng index ended the day down by 0.55%.
- European markets were higher on Monday amid heightened geopolitical tensions following Iran’s massive drone and missile attack on Israel Saturday night.
Stocks in Spotlight
- Following the BJP’s 2024 manifesto pledge to extend existing schemes for energy access and promote cleaner energy solutions, shares of Mahangar Gas and Indraprastha Gas experienced gains.
- The Aster DM Healthcare stock rose 7 percent after the company announced a special dividend of Rs 118. The Aster DM Healthcare board on April 12 approved the declaration of a special dividend of Rs 118 a share payable to the shareholders named in the register of members of the company as on April 23, it said.
- Reliance Power dipped 4 percent after the company reported it completed the slump sale of its Vashpet wind power project in Maharashtra to JSW Renewable Energy.
News from the IPO world🌐
- Blackstone-backed Aadhar Housing Finance gets Sebi nod to launch Rs 5,000 crore IPO
- Vodafone Idea FPO: 5 things to know about India’s largest Rs 18,000 crore FPO
- Vishal Mega Mart said to pick Kotak, ICICI for mega IPO
Daily Leader board:
Sectoral Performance
| Top Sectors | Day change (%) |
| NIFTY OIL & GAS | 0.4 |
| NIFTY METAL | -0.6 |
| NIFTY AUTO | -0.8 |
| NIFTY PHARMA | -0.9 |
| NIFTY FMCG | -1.0 |
Advance Decline Ratio
| Advance/Declines | Day change (%) |
| Advances | 917 |
| Decline | 2984 |
| Unchanged | 148 |
Numbers to track
| Indices Name | Latest | % 1D | % YTD |
| Dow Jones (US) | 37,983 | (1.2) % | 0.7 % |
| 10 Year Gsec India | 7.2 | (0.1) % | 0.8 % |
| WTI Crude (USD/bbl) | 86 | 0.5 % | 21.7 % |
| Gold (INR/10g) | 72,171 | 0.4 % | 7.2 % |
| USD/INR | 83.36 | 0.1 % | 0.4 % |
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