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Trade Setup for April 6: Top 15 things to know before the opening bell as geopolitical tensions dominate markets
Technical indicators are largely in favour of bears despite Thursday’s recovery. The index needs to reclaim and sustain above the 23,000 zone for an up move toward 23,500; until then, consolidation and range-bound trading may continue, with immediate support at 22,500, followed by 22,200.
Technical indicators largely in favour of bears despite Thursday’s recovery
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Nifty needs to reclaim and sustain above 23,000 zone for up move toward 23,500
Until then, consolidation and range-bound trading may continue, with immediate support at 22,500, followed by 22,200.
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The Nifty 50 took a ‘U’ turn after a sharp gap-down opening and closed moderately higher on April 2, supported by value buying, a strengthening rupee, and a rally in technology stocks. However, geopolitical tensions and elevated oil prices remain in focus and are likely to cap the upside until there is a ceasefire and the reopening of the Strait of Hormuz.
Technical indicators are largely in favour of bears despite Thursday’s recovery.
The index needs to reclaim and sustain above the 23,000 zone for an up move toward 23,500; until then, consolidation and range-bound trading may continue, with immediate support at 22,500, followed by 22,200 (near the previous week’s low), which will be crucial support levels, according to experts.
The Nifty 50 took a ‘U’ turn after a sharp gap-down opening and closed moderately higher on April 2, supported by value buying, a strengthening rupee, and a rally in technology stocks. However, geopolitical tensions and elevated oil prices remain in focus and are likely to cap the upside until there is a ceasefire and the reopening of the Strait of Hormuz.
Technical indicators are largely in favour of bears despite Thursday’s recovery. The index needs to reclaim and sustain above the 23,000 zone…
Here are 15 data points we have collated to help you spot profitable trades :
1) Key Levels For The Nifty 50 (22,713)
Resistance based on pivot points: 22,788, 22,930, and 23,159
The Nifty 50 formed a long bullish candle on the daily charts following a sharp recovery from the day’s low. However, the lower high–lower low formation remains intact, with all key moving averages sloping downward and the 100-day EMA sustaining below the 200-day EMA. The index could not close above the 78.6 percent Fibonacci retracement (of the rally from the April 2025 low to the January 2026 high).
The RSI remains below 40, though above the signal line, while the MACD sustains below the refer…