NIFTY INTRADAY TRADING LEVELS FOR TOMMORRROW
DATE- `16.04.2025
TIME-FRAME- 15min
BUY OR BUY CALL ABOVE- 23345 target will be 23431, 23497 & 23567
SELL OR BUY PUT BELOW - 23289 target will be 23229, 23159 & 23077
The domestic key equity indices extended gains for the second consecutive session, with benchmark indices closing over 2% higher each. The markets rallied after US President Donald Trump halted tariffs for 90 days, including that for India. The American administration is also mulling to drop 10% tariffs on automobile and auto parts.
Global markets were also strong today, but Indian indices outperformed them which were majorly led by banking heavyweights like HDFC Bank, ICICI Bank, and Axis Bank. Reliance was also among the top five movers in today’s trade. Also, the Indian benchmarks have almost erased all the losses incurred since April 02.On Tuesday, the Nifty 50 shot up 500 points or 2.19% to settle at 23,328.55. The Nifty 50 closed above 23,300 after 7 days. The BSE Sensex skyrocketed 1,577.63 points or 2.10% to finish at 76,734.89.
The Nifty Realty closed the highest among the sectoral indices, surging 5.64% to 834.75 level in Tuesday’s trade. However, the banking and auto stocks surged the highest.
The Nifty Bank outperformed key indices, rising 1,377 points or 2.70% to close at 52,379.50. The BSE Midcap rocketed 1,215 points or 3.02% to close at 41,489.86.
Sectoral Index
In the broader markets, small- and mid-cap stocks closed on a higher note following the overall market sentiments. The volatility index India VIX cooled down significantly by 19.80% to the 16.13 level.
The overall market breadth remained in favour of bulls as out of 3,009 stocks traded, 2,547 advanced and a 377 declined. IndusInd Bank (6.67%) was the top gainer in the Nifty 50, followed by Shriram Finance (5.17%), Tata Motors (4.6%), L&T (4.5%), and Axos Bank (4.35%). Meanwhile, ITC was the only stock close in the red, down 0.28%, in the Nifty 50.
“The rally is fuelled by the surprise pause in reciprocal tariffs which continued today led by the exemption on electronics goods also. The performance was broad-based, with sectors like financials, capital goods, realty and metals exhibiting optimism,” said Vinod Nair, Head of Research at Geojit Investments. “However, investors remain watchful considering future supply chain impact due to escalated tariffs on China and products like Steel, Car.”
“In addition, on daily charts, the market is holding uptrend continuation formation, which supports a further uptrend from the current levels. We are of the view that the current market texture is bullish; however, due to temporary overbought conditions, we could see some profit booking at higher levels. For traders, 23,400 and 23,500 would act as key resistance areas, while 23,200-23,135 could serve as crucial support zones,
