Nifty Soars to New Heights: A Strong Uptrend with Bullish Gaps and Key Resistance Levels
The Nifty 50 experienced another significant gap-up opening, marking its largest single-day rally of 2025 so far. On April 15, the index surged nearly 1,600 points, climbing back to pre-Liberation Day levels and reflecting growing optimism in the market. This sharp rebound comes after the year’s recent low, fueled by easing tariff risks and the potential for exemptions in key sectors such as technology and automobiles.
The market is showing strong bullish behavior, with the Volatility Index (VIX) dropping sharply, signaling confidence among investors. Analysts predict that Nifty will target the 23,550–23,600 range in the short term, while 23,900 remains a key resistance level. Immediate support is seen at 23,300.
The Nifty 50 opened 500 points higher on Tuesday, hitting an intraday high of 23,368, and closed at 23,329, gaining 500 points (2.19%). This marks the largest single-day rally since November 2024. A small bearish candle with a long lower shadow on the daily chart suggests the uptrend may continue.
Technically, Nifty is positioned on the verge of an upside breakout above the 200-day EMA (around 23,360). A decisive move above this level could fuel further bullish momentum.
Key Levels and Market Sentiment
According to market expert Nagaraj Shetti from HDFC Securities, the uptrend remains intact, with the next targets at 23,650 and 23,870 within the next 1–2 weeks. On the downside, immediate support is at 23,200.
Weekly options data suggests resistance may arise at the 23,500 and 24,000 levels in the near term. Immediate support zones are likely to be at 23,300 and 23,000. The maximum open interest on the Call side is at the 24,000 strike, followed by 23,500 and 23,300. Meanwhile, on the Put side, 23,300 and 23,000 are key levels to watch.
Bank Nifty Shows Robust Performance
Bank Nifty also witnessed a strong gap-up opening of 1,300 points, closing at 52,380, marking its largest single-day rally of 2025. The index has shown strong bullish control, and experts are projecting further upside, with resistance at 52,675 and potential targets near 53,888.
VIX Drops, Strengthening Bullish Sentiment
The sharp decline in the India VIX, down nearly 20% to 16.13, adds to the bullish sentiment. This decline suggests reduced market fear, further strengthening the overall positive outlook.
As the market continues its upward march, investors will closely monitor key support and resistance levels, looking for any signs of consolidation or pullbacks for new buying opportunities.
Disclaimer: Investment decisions should be made based on careful analysis and consultation with certified financial experts.
