NIFTY INDEX DAILY REPORT

Nifty 50 displayed a resilient performance with a gain of 181.95 points and settling the day at 24,177 , below the psychological resistance level of 24,300. Amid global volatility and the impending shift in OPEC dynamics, the index managed to gain momentum despite a muted opening at 24,096. Also, heavy-weight stocks from the Auto and Realty sectors like Maruti Suzuki took the charge and pushed the index into green. Expectations of positive Q4 earnings also continued to bolster the Indian markets. Further, continuous buying by DIIs also supported the index, with the month-to-date, DIIs bought equities worth Rs 45,314.60 crores. However, continued weakness in the Rupee and selling by FIIs weighed on the market, toppling the index from the day’s high of 24,334.70 to settle at 24,177.

Bank Nifty continued to trade with a subdued session, underperforming the broader Nifty 50. The index, after opening lower at 55,634, managed to touch its intra-day high of 56,178.75, amid a brief period of buying interest. However, sustained selling was witnessed at higher levels, dragging the index down to 55,403.60, closing merely up by 3.25 points from the previous day’s close of 55,400.35. Overall, the Bank sector remained under pressure amid a weakening Rupee and rising crude oil prices. Further, the index has also slipped below its 20-day EMA, indicating short-term pressure in the index.

Nifty Auto became a sectoral leader with an intra-day gain of 295.40 points and settled the day at 26,085.75, after touching the intraday high of 26,484.80. The rally in the Auto index was led by a gain in Maruti Suzuki, amid reports of stellar sales volume for FY26, proving a positive double-digit growth forecast for the coming year. This halo effect was also seen in the other Auto Majors like Eicher Motors, Mahindra and Mahindra, and TATA Motors, which also gained for the day, raising the index to inch higher. However, the Auto index couldn’t sustain the highs of the day amid rising worries around the continuous rise in crude oil prices, which has again breached the mark of $100.

Nifty FMCG was the second index to give stellar performance during the trading session and inched up to the high of 52,067.65. The index outshone Nifty and closed with a gain of 2.23%. Te index was spearheaded by companies like ITC and Hindustan Unilever. ITC gained over 3.88% to settle the day at 317.50, following reports of a potential cigarette price hike. As per the latest report, ITC is all set to hike cigarette prices by a whopping 17% in the next month. This impressive move in the FMCG sector shows the index has given a return of whopping 13.69%, as investors shifted their capital to consumption-oriented stocks from high-volatility indices like banking and energy.

NIFTY DAILY CHART

After hitting the daily high of 24,334, index retraced to settle at the level of 24,177.65. The Nifty faced strong resistance at the level of 24,330. Further RSI is also seen inching higher and is currently near 53, indicating room for upside movement. Thus, for Index to reach next upside destination of 24,500, it must sustain itself above the mark of 24,350.

Equity Market Technical Analysis Snapshot: Apr 29th, 2026

Nifty50: 

• Nifty gained +0.76%, opening at 24,096.90 and briefly crossing above the 11DMA, hitting a high of 24,334.70, but failed to sustain higher levels and slipped to close at 24,177.65, indicating selling pressure near resistance; the trend remains sideways to bearish as the index is trading below the 200DMA and 11DMA but above the 30DMA, reflecting a mixed yet slightly weak structure, while the RSI at 53.19 stays in the neutral zone, suggesting limited momentum; immediate resistance is placed at 24,350-24,450 and support at 23,950-23,800, where a sustained move above 24,350 could improve sentiment, whereas a break below 23,950 may lead to further downside.

 Bank Nifty: 

• Bank Nifty ended almost flat at +0.01%, opening at 55,634.50 and closing slightly lower at 55,403.60, reflecting a range-bound and indecisive session; the trend remains sideways to bearish as the index continues to trade below the 200DMA and 11DMA but above the 30DMA, indicating a mixed yet weak structure, while the RSI at 48.44 stays below the neutral mark, suggesting subdued momentum; immediate resistance is placed at 56,100-56,500 and support at 55,200-54,850, where a sustained move above 56,100 could improve sentiment, whereas a break below 55,200 may lead to further downside pressure.

Nifty Mid Select: 

• Nifty Mid Select (Midcap Nifty) declined -0.31%, opening at 14,054.25 and rising to a high of 14,102, but failed to sustain higher levels and witnessed selling pressure, closing lower at 13,932.70; despite the dip, the trend remains bullish as the index continues to trade firmly above its 200DMA, 30DMA, and 11DMA, indicating a strong underlying structure, while the RSI at 62.58 remains elevated, suggesting healthy momentum though with scope for short-term consolidation; immediate resistance is placed at 14,050-14,120 and support at 13,850-13,750, where holding above 13,850 keeps the bullish bias intact, while a sustained move above 14,050 could resume the upward trend.

Nifty Realty: 

• Nifty Realty gained +1.48%, opening at 797.55 and closing higher at 805.60, indicating buying interest with gradual upward momentum; the trend remains sideways to bullish as the index trades above its 11DMA and 30DMA but below the 200DMA, suggesting improving short-term strength within a still cautious broader setup, while the RSI at 63.37 reflects strong momentum, nearing overbought levels; immediate support is placed at 790-775 and resistance at 820-830, where a sustained move above 820 could extend the rally, whereas holding above 790 is crucial to maintain the current bullish bias.

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