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Sensex & Nifty 50: Flat-to-Negative Start Expected
April 30, 2025: New Delhi
🔔 Global & Pre-Market Cues:
- Gift Nifty trading at ~24,375 — indicating a ~50-point gap-down.
- Mixed global signals weigh on investor sentiment.
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📊 Index Summary:
🔵 Nifty 50
- Previous Close: 24,335.95 | Key Resistance: 24,450 – 24,550 | Key Support: 24,100 – 23,850
- Candlestick Pattern: Small red candle, signals indecision and consolidation.
- Options Data:
- Heavy call writing at 24,500 (1.65 crore contracts) = strong resistance
- Put support at 24,000 (1.12 crore contracts)
- PCR down to 0.84 = caution among bulls
- Outlook: Expect range-bound trade between 24,550 – 23,800. A breakout above 24,460 could push the index toward 24,800–24,850.
🔵 Sensex
- Previous Close: 80,288.38 | Resistance: 80,500 – 81,000 | Support: 80,000 – 79,500
- View: Bullish only above 80,500; below 80,000 could trigger a dip toward 79,700.
🏦 Bank Nifty
- Previous Close: 55,391.25
- Resistance: 56,000 – 56,800 | Support: 54,000 – 53,500
- Pattern: Shooting star; signals pressure near 56,000.
- Outlook: Range-bound between 54,450 – 56,000 in near term.
📌 Technical Indicators & Strategy:
- Market is in consolidation after recent rally; overbought conditions are being worked off.
- Expect sideways to mildly negative movement unless key resistance levels are decisively crossed.
- Stock-specific action likely to dominate due to ongoing Q4 earnings season.
- Traders may consider neutral strategies like iron condors or spreads in options.
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✅ Key Takeaways:
- Maintain caution near resistance zones.
- Watch 24,100–24,450 for Nifty 50 and 80,000–80,500 for Sensex.
- Bank Nifty remains crucial — breakout above 56,000 can trigger a new leg up.
- Sector focus: Tech and defence remain strong; pharma and realty lag.