Quote on Closing Market Summary from Sachin Gupta , at Choice Equity Broking Private Limited
Below the Quote on Closing Market Summary from Sachin Gupta ,Vice President Technical Research at Choice Equity Broking Private Limited
Indian equity benchmarks witnessed a positive close on 15th April 2026. The index opened with a strong gap-up of 321.15 points at 24,163.80, reflecting continued positive sentiment. In the initial phase of the session, the index recorded both its intraday low of 24,145.80 and high of 24,280.90, indicating early volatility. Thereafter, the index shifted into a consolidation phase, moving within a narrow band for the rest of the session. The index eventually settled at 24,231.30, registering a gain of 388.65 points or 1.63%. On the daily timeframe, the index formed a small-bodied bullish candle with consolidation characteristics, indicating a pause after the recent upmove. This suggests that while buying interest persists, the market is currently digesting recent gains before the next directional move.
From a technical perspective, immediate support is placed in the 24,000–24,070 zone, while resistance is observed in the 24,400–24,450 range. The Relative Strength Index (RSI) stands at 55.86, sustaining above the midpoint level, which indicates strengthening bullish momentum. The volatility index, India VIX, declined by 8.94% to close at 18.67, reflecting reduced market volatility and improved investor confidence. In the derivatives segment, notable call writing was observed at the 24,300 and 24,500 strike levels, indicating overhead resistance. On the put side, significant writing at 24,200 and 24,000 levels suggests strong support at lower levels.
Sectorally, the market witnessed broad-based buying, with notable strength in IT, Realty, Consumer Durables, and Oil & Gas sectors. The positive market breadth, with a significantly higher number of advancing stocks compared to declines, further supports the bullish undertone.
|
20 Day EMA |
50 Day EMA |
100 Day EMA |
200 Day EMA |
|
23,612.23 |
24,189.45 |
24,693.36 |
24,830.15 |
The Bank Nifty index opened with a gap-up of 738.40 points at 56,343.45, reflecting strength in the banking space. Similar to the broader market, the index recorded both its intraday low of 56,109.20 and high of 56,786.25 during the early part of the session. Subsequently, it traded in a range-bound manner, consolidating its gains through the day. The index eventually closed at 56,301.95, gaining 696.90 points or 1.25%. On daily timeframe, a gap-up session resulted in a positive close, but the candle formed in today’s session has a long upper wick. It simply reflects rejection at higher levels, signalling potential resistance overhead.
From a technical perspective, immediate support is placed in the 55,800–55,900 zone, while resistance is observed in the 56,600–56,800 range. The Relative Strength Index (RSI) stands at 55.18, holding above the midpoint level, indicating continued positive momentum.
Markets extended their gains with a gap-up opening, followed by a phase of consolidation, indicating stability after the recent rally. The decline in volatility and strong market breadth reflect a positive undertone. Going forward, a sustained move above key resistance levels will be crucial to confirm continuation of the ongoing bullish trend.
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