Market Commentary (closing) for 15th April 2026 by Bajaj Broking
Market Closing Commentary
Indian equity benchmarks closed sharply higher on April 15, with the Nifty reclaiming the 24,200 marks, supported by broad-based buying across sectors. Optimism was driven by expectations of renewed US–Iran negotiations, which helped ease concerns around potential oil supply disruptions and triggered a decline in crude prices. Market sentiment strengthened further after US President Donald Trump indicated that a second round of discussions could be on the table.
At the close, the Sensex advanced 1,263.67 points (+1.64%) to settle at 78,111.24, while the Nifty gained 388.65 points (+1.63%) to end at 24,231.30. Sectorally, the rally was broad-based, with all indices closing in the green. Capital Goods, Oil & Gas, Power, Infrastructure, Media, Realty, Consumer Durables, and IT sectors each posted gains of around 2%. The broader markets also participated in the up move, with both Nifty Midcap and Small cap indices rising over 2% each.
Nifty Outlook
Index has formed a bullish candle with a higher high and a higher low and a bullish gap below its base 23,907-24,145 signaling continuation of the up move as buying demand emerged from the 20 days EMA on Monday’s session. Bias remains positive above Wednesday gap up area and the index likely to head towards 24,350 and 24,700 levels over the coming sessions being the 50% and 61.8% retracement of the entire recent decline 26341-22183. The daily stochastic oscillator has approached overbought territory. Hence, some consolidation at higher levels cannot be ruled out. Nifty has short term support at 23,450-23,100 levels being the confluence of the last Wednesday gap area and 20 days EMA. Index sustaining above the same will keep the current pullback trend intact.
Bank Nifty Outlook
Index has formed a high wave candle with an upper shadow and a bullish gap below its base 55752-56109 signaling consolidation with positive bias as index extended its pullback from the 20 days EMA. Bias remains positive above Wednesday gap up area and the index likely to head towards 57,300 and 58,000 levels over the coming sessions being the 61.8% retracement of the recent decline 61,764-49,955.
The daily stochastic oscillator has approached overbought territory after 6000 points up move. Hence, some consolidation at higher levels cannot be ruled out. Bank Nifty has immediate support at 54,000-53,000 levels being the confluence of the last Wednesday gap area and 20 days EMA. Index sustaining above the same will keep the current pullback trend intact.
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