From Highs to Lows:- The Nifty and Sensex reached new all-time highs in today’s session, but some early gains were reduced to settle around the day’s highs.
The Sensex surpassed the 75,000-mark, while the Nifty scaled 22,750 for the first time, but profit booking caused both benchmarks to fall.
The Sensex and Nifty, Indian benchmark indices, reached new lifetime highs on April 9, but failed to maintain gains due to profit booking ahead of inflation figures for India and the US.
Sectors and stocks
Top Nifty gainers include Apollo Hospitals, Hindalco, ICICI Bank, and Infosys, while losers include Titan Co, Hero MotoCorp, Coal India, and Reliance Industries.
The BSE midcap index and smallcap index both fell by 0.5% and 0.2% respectively.
Gland Pharma, Premier Explosives, and Exide Industries experienced a volume spike of over 300%. Exide, Hind Copper, Voltas, and InfoEdge experienced a long buildup, while REC, Granules India, PNB, and Sun TV experienced a short buildup. Over 200 stocks reached their 52-week highs, including Aarti Industries, Abans Holdings, Ajmera Realty, Aster DM Health, Avenue Supermarts, BASF, Bharat Electronics, Castrol, Exide, GAIL, Glenmark, HEG, Hind Zinc, and ICICI Bank.
April 10 Forecast
The Nifty opened higher but struggled to withstand selling pressure at elevated levels. The RSI indicates bearish divergence, suggesting a potential price shift towards the downside. Immediate support is at 22,600, while resistance is at 22,770 on the higher end.
Nifty’s near-term trend is positive, with potential swings. Expansion around 22,600 and 22,300 levels is expected, with above moves potentially bringing upside and below below opening weakness.
| FII Sold | -593.20 Cr |
| DII Bought | 2,257.18 Cr |
Indian Market Stocks
| Sensex | -58.80 | -0.08% | 74,683.70 |
| Nifty 50 | -23.55 | -0.10% | 22,642.75 |
| Nifty Bank | 148.85 | +0.31% | 48,730.55 |
Market Movers
| Apollo Hospital | 197.30 3.13% | Titan Company | -69.55 -1.86% |
| Hindalco | 11.80 2.05% | Coal India | -7.55 -1.69% |
| ICICI Bank | 19.90 1.83% | Hero Motocorp | -73.40 -1.60% |
| Bajaj Finserv | 21.25 1.26% | Reliance | -44.65 -1.50% |
| Infosys | 18.15 1.23% | Asian Paints | -34.85 -1.21% |
Must read book about investing – check here From Highs From Highs From Highs FrFrom Highsom Highs Investors see optimism in economic momentum, with political continuity as a positive factor. Auto, energy, infra, metal, and realty sectors saw gains, while PSU bank, IT, and media indices fell. Exide Industries, Everready Industries, and Voltas experienced a volume spike.
Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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