Indian markets brace for a cautious start on April 9 as Gift Nifty trades below futures close, with focus on RBI policy and global cues
April 9, 2025: Indian stock market indices, the Nifty 50 and Sensex, are expected to open lower on Wednesday, April 9, tracking weak global cues and investor caution ahead of the RBI’s monetary policy announcement.
As per early trends, Gift Nifty was trading at 22,442.50, nearly 188 points lower than the Nifty futures’ previous close — signaling a likely gap-down start for domestic markets.
Also Read: Zerodha CEO Nithin Kamath Warns of Investor Exodus if Indian Markets Crash
Markets will be closely watching the RBI’s Monetary Policy Committee (MPC) decision, with expectations building around a possible repo rate cut amid cooling inflation and slower GDP growth.
On Tuesday, the Nifty 50 surged 374.25 points (1.69%) to close at 22,535.85, while the Sensex jumped 1,089.18 points (1.49%) to end at 74,227.08, marking a strong relief rally.
Also Read: China Vows to “Fight to the End” as Trump’s 104% Tariffs Spark Global Economic Showdown
Sensex Outlook
Shrikant Chouhan of Kotak Securities suggests that Sensex could test 75,000–75,200 on sustained momentum above 73,500, which now acts as a key support level. Breaching below this could bring back selling pressure, possibly dragging the index to 72,800.
Also Read: Trump Slaps 104% Tariff on Chinese Goods, Escalating US-China Trade War
Nifty 50: Key Levels and Technical Outlook
- Immediate support: 22,270
- Resistance zone: 22,850 – 23,000
- 50% Fibonacci level to watch: 22,800
Nagaraj Shetti of HDFC Securities observed a high wave candlestick on the daily chart, hinting at ongoing volatility. Meanwhile, Om Mehra from SAMCO said the Nifty remains below its 9, 20, and 50 EMAs — a cautionary sign for a full-fledged recovery.
A move past 22,650 could trigger further upside, he added.
Bank Nifty Levels to Watch
The Bank Nifty index rose 1.31% to end at 50,511, crossing its 100-Day EMA and signaling recovery. Hrishikesh Yedve from Asit C. Mehta sees potential for a rally towards 51,500–52,000, provided the index sustains above 50,800.
Support remains at 49,850 — a breakdown here could reverse the current positive sentiment.
Final Takeaway
Despite Tuesday’s rebound, analysts advise caution amid ongoing global uncertainty and anticipation of policy signals from the RBI. Market sentiment will also remain sensitive to any fresh developments on Donald Trump’s tariffs and global recessionary fears.
Tags:
Nifty 50, Sensex today, stock market April 9, RBI policy, Gift Nifty, stock market opening bell, Bank Nifty outlook, Ankit Gohel, NSE, BSE, Indian economy, repo rate cut, stock market prediction, market trend, technical analysis, equity markets India