Stock Market Today: What to Expect from Nifty and Sensex

Indian stock markets today may start on a quiet note on Tuesday, April 22, following weak global cues. The Gift Nifty was seen trading at 24,083 — about 52 points below the last closing of Nifty futures — signaling a flat or slightly lower opening.

Stock Market Today:
On Monday, markets ended with strong gains. The Sensex rose by 855 points to settle at 79,408, while the Nifty 50 went up by 274 points to end at 24,125. The Nifty 50 formed a bullish candle on the chart, showing continued positive momentum.

According to experts, this breakout signals a strong upward trend, with the index breaking past earlier resistance levels. The next immediate target for Nifty is around 24,200 and, if crossed, could move further to 24,550 in the short term. Traders suggest that as long as Nifty stays above 23,950, buying on dips is a good strategy.

Key Levels to Watch for Nifty 50:
– Support Levels: 23,870 – 23,950
– Resistance Levels: 24,200 – 24,250 – 24,550

Analysts also noted that the index is comfortably above all key moving averages and shows a pattern of higher highs and higher lows — signs of a continued bullish phase.

Bank Nifty Outlook:

Bank Nifty also showed strong performance, gaining over 1,000 points to close at 55,304. It broke out of a long consolidation phase and hit an all-time high. This move reflects renewed strength in banking stocks.

The index may head towards 56,000 in upcoming sessions. Analysts advise watching support at 54,250 and suggest a “buy on dips” strategy unless there’s a clear sign of reversal. However, some indicators like RSI show the market could be slightly overbought, so minor pullbacks are possible.

Indian markets are currently in a strong uptrend, with both Nifty and Bank Nifty showing bullish momentum. However, cautious optimism is recommended as the market is nearing key resistance levels.

Disclaimer: This is a general market outlook based on expert opinions. Investors should consult certified financial advisors before making investment decisions.

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