Nifty, Sensex, Nifty Bank outlook for today: Gift Nifty down 157 pts; key levels to watch
Nifty futures on the NSE International Exchange were 156.50 points, or 0.64 per cent, down at 24,428, hinting at a negative start for the domestic market on Wednesday.
- Apr 22, 2026,
- Updated Apr 22, 2026 8:37 AM IST
Indian equity benchmark indices are likely to open lower on Wednesday after three consecutive sessions of gains, as investors sift through corporate earnings and assess the outlook for US-Iran peace talks following Washington's extension of a ceasefire. Although it was not clear if Iran or Israel would agree for it yet.
Nifty futures on the NSE International Exchange were 156.50 points, or 0.64 per cent, down at 24,428, hinting at a negative start for the domestic market on Wednesday. Asian stocks wobbled in the early trade as Nikkei rose 0.45 per cent, but KOSPI fell 1.25 per cent. Hang Seng was down 0.2 per cent in the early hours.
Indian equities may continue their gradual up move on the back of supportive cues, said Head of Research At Motilal Oswal Financial Services. "With the ceasefire deadline arriving tomorrow, all eyes turn to the second round of US–Iran talks, while markets remain hopeful of progress, elevated tensions and uncertain participation make any negative surprise a key downside risk."
US stocks closed lower on Tuesday, with early gains evaporating as renewed concerns about the Middle East war outweighed initial optimism over a round of solid corporate earnings. The Dow Jones Industrial Average fell 0.59 per cent to 49,149.38, the S&P 500 lost 0.63 per cent to 7,064.01 and the Nasdaq Composite shed 0.59 per cent to 24,259.96.
The dollar steadied in early Asian trade on Wednesday, as skepticism over US President Donald Trump's announcement of an indefinite extension of a ceasefire with Iran lifted demand for the safe-haven currency, pushing it to a one-week high. The US dollar index was steady at 98.415.
US West Texas Intermediate crude futures climbed 0.44 per cent to $90.12 a barrel. Brent crude prices were largely flat at $98 a barrel. Oil prices are 35 per cent higher compared to late-February when the US-Israeli war on Iran began.
Lingering geopolitical uncertainties and mixed global signals continue to cap the overall momentum. Traders should maintain a positive yet cautious stance, focusing on stock-specific opportunities while keeping position sizes in check, given the lingering geopolitical risks, said Ajit Mishra, SVP of Research at Religare Broking.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,918.99 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 2,221.27 crore on a net-net basis.
Nifty50 & Sensex outlook
The market has formed a bullish candle on daily charts and it is holding an uptrend continuation formation on intraday charts, which is largely positive. The short-term market texture is bullish, but due to temporary overbought conditions, some profit booking may occur at higher levels, said Shrikant Chouhan, Head Equity Research at Kotak Securities.
"For day traders, 24,500/79,000 would act as immediate support zones. Above these levels, the market could continue its positive move towards 25,750–25,800 / 79,800–80,000. Conversely, below 24,500/79,000, we could see a quick intraday correction. Below these levels, the market could retest the levels of 24,350–24,300 / 78,700–78,500," he added.
Nifty50 is positioned between the 50 and 100 DEMA, with indicators suggesting a favorable bias, aligning with the 100 DEMA near the 24,750 zone and is expected to act as an immediate resistance. A decisive breakout above this level could revive bullish momentum, potentially paving the way for an advance towards the 25,000 mark in the near term, said Osho Krishan, Chief Manager - Technical & Derivative Research, Angle One.
"Going forward, market sentiment appears to favor the bulls, with intermittent declines likely to present buying opportunities. A buy-on-dips strategy is advisable in the current environment. Traders are encouraged to focus on thematic sectors, while also remaining vigilant and responsive to evolving global developments that could influence market direction," he adds.
Nifty Bank outlook
Nifty Bank outperformed the frontline indices and it managed to close above its 100 day and 200 day EMA, which is a positive technical development and signals improving trend strength, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
"Going ahead, based on the current chart structure, the index is expected to extend its upward momentum and may retest the 58,000 level, followed by 58,500 in the short term. On the downside, the 56,800–56,700 zone is likely to act as an immediate support area," it adds.
Technically, immediate resistance is placed in the 57,500–57,800 zone, and failure to break this band may lead to mild profit booking. On the downside, immediate support is seen at 57,200–57,000, followed by a stronger support zone near 56,800–56,500, which is expected to provide a cushion on declines, said Ponmudi R, CEO at Enrich Money
"Momentum indicators remain supportive, with RSI holding in higher territory, indicating underlying strength. Overall, the near-term outlook remains cautiously positive, with the index likely to maintain its upward bias as long as it holds above key support levels, while a decisive breakout above 57,800 will be crucial to trigger further upside," he said.
Indian equity benchmark indices are likely to open lower on Wednesday after three consecutive sessions of gains, as investors sift through corporate earnings and assess the outlook for US-Iran peace talks following Washington's extension of a ceasefire. Although it was not clear if Iran or Israel would agree for it yet.
Nifty futures on the NSE International Exchange were 156.50 points, or 0.64 per cent, down at 24,428, hinting at a negative start for the domestic market on Wednesday. Asian stocks wobbled in the early trade as Nikkei rose 0.45 per cent, but KOSPI fell 1.25 per cent. Hang Seng was down 0.2 per cent in the early hours.
Indian equities may continue their gradual up move on the back of supportive cues, said Head of Research At Motilal Oswal Financial Services. "With the ceasefire deadline arriving tomorrow, all eyes turn to the second round of US–Iran talks, while markets remain hopeful of progress, elevated tensions and uncertain participation make any negative surprise a key downside risk."
US stocks closed lower on Tuesday, with early gains evaporating as renewed concerns about the Middle East war outweighed initial optimism over a round of solid corporate earnings. The Dow Jones Industrial Average fell 0.59 per cent to 49,149.38, the S&P 500 lost 0.63 per cent to 7,064.01 and the Nasdaq Composite shed 0.59 per cent to 24,259.96.
The dollar steadied in early Asian trade on Wednesday, as skepticism over US President Donald Trump's announcement of an indefinite extension of a ceasefire with Iran lifted demand for the safe-haven currency, pushing it to a one-week high. The US dollar index was steady at 98.415.
US West Texas Intermediate crude futures climbed 0.44 per cent to $90.12 a barrel. Brent crude prices were largely flat at $98 a barrel. Oil prices are 35 per cent higher compared to late-February when the US-Israeli war on Iran began.
Lingering geopolitical uncertainties and mixed global signals continue to cap the overall momentum. Traders should maintain a positive yet cautious stance, focusing on stock-specific opportunities while keeping position sizes in check, given the lingering geopolitical risks, said Ajit Mishra, SVP of Research at Religare Broking.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,918.99 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 2,221.27 crore on a net-net basis.
Nifty50 & Sensex outlook
The market has formed a bullish candle on daily charts and it is holding an uptrend continuation formation on intraday charts, which is largely positive. The short-term market texture is bullish, but due to temporary overbought conditions, some profit booking may occur at higher levels, said Shrikant Chouhan, Head Equity Research at Kotak Securities.
"For day traders, 24,500/79,000 would act as immediate support zones. Above these levels, the market could continue its positive move towards 25,750–25,800 / 79,800–80,000. Conversely, below 24,500/79,000, we could see a quick intraday correction. Below these levels, the market could retest the levels of 24,350–24,300 / 78,700–78,500," he added.
Nifty50 is positioned between the 50 and 100 DEMA, with indicators suggesting a favorable bias, aligning with the 100 DEMA near the 24,750 zone and is expected to act as an immediate resistance. A decisive breakout above this level could revive bullish momentum, potentially paving the way for an advance towards the 25,000 mark in the near term, said Osho Krishan, Chief Manager - Technical & Derivative Research, Angle One.
"Going forward, market sentiment appears to favor the bulls, with intermittent declines likely to present buying opportunities. A buy-on-dips strategy is advisable in the current environment. Traders are encouraged to focus on thematic sectors, while also remaining vigilant and responsive to evolving global developments that could influence market direction," he adds.
Nifty Bank outlook
Nifty Bank outperformed the frontline indices and it managed to close above its 100 day and 200 day EMA, which is a positive technical development and signals improving trend strength, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
"Going ahead, based on the current chart structure, the index is expected to extend its upward momentum and may retest the 58,000 level, followed by 58,500 in the short term. On the downside, the 56,800–56,700 zone is likely to act as an immediate support area," it adds.
Technically, immediate resistance is placed in the 57,500–57,800 zone, and failure to break this band may lead to mild profit booking. On the downside, immediate support is seen at 57,200–57,000, followed by a stronger support zone near 56,800–56,500, which is expected to provide a cushion on declines, said Ponmudi R, CEO at Enrich Money
"Momentum indicators remain supportive, with RSI holding in higher territory, indicating underlying strength. Overall, the near-term outlook remains cautiously positive, with the index likely to maintain its upward bias as long as it holds above key support levels, while a decisive breakout above 57,800 will be crucial to trigger further upside," he said.