D-street ahead: How will the Indian stock market move in holiday shortened week? Important Technical Calls for Nifty, Sensex | Einsmark news

Shares closed on a subdued note this week, ending with modest losses amid increased volatility. The holiday shortened week started on a bad foot, with a sharp gap caused by global worries. However, sentiment improved significantly in the subsequent sessions, which helped the Nifty and Sensex offices and, at 22,828.50 and 75.157.26 respectively, down, almost 0.5%lower. Technically, the Nifty saw a smart rebound after breaking its low-lines of March and now testing the 20-day exponential moving average (Dema) around the 22,900 mark. A sustained near this level can open the door for a further rally in the direction of 23,400, where the 100 and 200 dema converge. A major obstacle remains at 23,800. To the disadvantage lies immediate support at 22,300; A interruption below can lead to a recent swing low retest near 21.700. Bank Nifty still shows relative strength and regains the most important moving averages after a short dip. If you maintain above the 50,000 level, the bullish momentum will keep intact, with possible upside down targets at 52,000 and eventually 53,500. Strategy before the prevailing uncertainty and sharp fluctuations, traders and investors are advised to adopt a hedged approach until we see further cooling in the volatility index, India VIX. Meanwhile, selective opportunities for the choice of shares are still emerging, especially in the banking and financial space. Investors may also consider quality names from other sectors on dips. More comes first published: 12 Apr 2025, 23:07 IST