NIFTY OUTLOOK FOR 17 APRIL 2025

 Indian equity markets continued their upward momentum on April 16, ending the session on a positive note amid broad-based sectoral gains and improving domestic cues.

🔹 Key Indices Performance:

• Nifty 50 closed at 23,437.20, up 108.65 points or 0.47%

• Sensex closed at 77,044.29, up 309.40 points or 0.40%

The indices showed resilience despite global uncertainties and opened lower but recovered sharply by the end of the session.

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📊 Technical Overview:

• Nifty found strong support near 23,275 and formed a bullish candle on the daily chart.

• It surpassed the 200-day EMA at 23,360 and closed near the day’s high.

• Support Levels: 23,275 / 23,300

• Resistance Levels: 23,450–23,500; extended resistance at 23,800

• The runaway gaps from April 11 & 15 remain unfilled, reinforcing bullish sentiment.

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🏦 Sectoral & Broader Market Highlights:

• Top Performing Sectors:

  • PSU Banks (+2.45%)

  • Media, Oil & Gas (+1–2%)

  • Banking, FMCG, Energy

• Underperformers:

  • Auto (-0.43%)

  • Pharma (-0.18%)

  • IT ended marginally negative

• Broader Markets:

  • BSE Midcap up 0.5%

  • BSE Smallcap rose nearly 1%

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🔝 Top Nifty Gainers:

• IndusInd Bank

• Axis Bank

• Trent

• ONGC

• Asian Paints

🔻 Top Nifty Losers:

• Maruti Suzuki

• Hindalco

• Bajaj Finance

• L&T

• Tata Motors

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🌐 Global & Domestic Sentiment:

• Global markets remained cautious amid rising US-China trade tensions, with US tariffs increasing to 245% on Chinese goods.

• Domestic sentiment stayed positive due to:

  • 5-year low March CPI inflation (indicating possible rate cuts)

  • Expectation of a normal monsoon

  • Absence of major global negative surprises

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📌 Outlook:

With Nifty sustaining above 23,400, a move toward 23,800 seems likely in the short term. However, the market is approaching a key resistance zone (23,450–23,500) and is showing signs of marginal overbought conditions.

Strategy for Traders:

• Maintain a bullish bias as long as Nifty holds above 23,300

• Watch for resistance near 23,800; booking partial profits could be considered there

• Keep an eye on outperforming sectors like Banking, PSU, FMCG for stock-specific opportunities