Domestic markets staged an impressive recovery, with benchmarks bouncing sharply from intraday lows, supported by easing crude prices, a stronger rupee, and improving global sentiment.

📊 Market Snapshot – 7th April 2026

The Nifty 50 surged 255 points to close at 22,968, reclaiming the crucial 23,000 zone during the session. The BSE Sensex jumped 787 points to settle at 74,106.

Markets witnessed a sharp intraday recovery of over 2%, largely driven by:

Short covering at lower levels Cooling crude oil prices (~$107/barrel) Strengthening INR Optimism around potential easing of geopolitical tensions (Iran ceasefire talks)

📈 Market Breadth & Internals

Advances: 2,511 Declines: 746 Unchanged: 89 52-week Highs: 33 52-week Lows: 47 Upper Circuits: 187 Lower Circuits: 45

👉 Advance-Decline ratio (Nifty 500): 4:1 — strong bullish breadth

🏦 Sectoral Highlights

Broad-based participation supported the rally:

Banking Stocks led the charge Axis Bank (+4%) RBL Bank (+6%) Retail Stocks surged on strong Q4 updates V-Mart Retail Avenue Supermarts V2 Retail (up to 12%) Gem & Jewellery stocks rallied on reduced import duty base prices Other gaining sectors: Auto, Metal, Realty, IT, Defence, PSU Banks (up 1–2%)

📉 Index Contributors

Top Positive Contributors:

HDFC Bank (+67 pts) Axis Bank Larsen & Toubro

Top Draggers:

Reliance Industries ONGC Max Healthcare

📊 Technical View

Nifty 50

Strong bullish candle with long lower shadow (buying at dips) Immediate Support: 22,700 → 22,550 Key Resistance: 23,200 → 23,450 Bias: Positive above 22,850

Sensex

Bullish structure intact with strong recovery from lows Support: 73,500 → 73,000 Resistance: 74,500 → 75,000 Bias: Positive above 73,800

📦 Derivative Insights

Nifty Futures: Closed at 23,050 (+1.25%) Max Call OI: 23,500 → 23,000 Max Put OI: 22,500 → 22,700

👉 Expected Range:

Broad Range: 22,500 – 23,500 Immediate Range: 22,700 – 23,200

Stocks with Positive Setup:

Trent, IEX, Godrej Properties, PNB Housing Axis Bank, Bajaj Finance, Titan Company, NMDC

Weakness Seen In:

Reliance Industries, Marico, Jindal Steel, VBL, Colgate, Max Healthcare

🌍 Global Economic Calendar (Upcoming)

US Inflation Data (CPI) FOMC Minutes China Trade Balance ECB Policy Signals

💡 What This Means for Investors

Buy-on-dips strategy remains intact as markets show strong support near 22,700–22,850 zones. Focus on earnings-driven sectors like banking, retail, and capital goods ahead of Q4 results. Avoid chasing rallies — short covering-driven moves can be volatile near resistance zones. Watch crude & INR closely — they are currently key drivers of sentiment reversal.

🎥 For exact support/resistance levels & intraday trading setups, watch today’s detailed breakdown on our YouTube channel.

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