D-street ahead: How will the Indian stock market move next week? Your Trading Strategy - Key Technical Calls for Nifty, Sensex | Einsmark news

D-street in advance: The Nifty 50 ended 1.8% higher at 23,851.65, while the BSE Sensex added 1.96% to finish at 78,553.2 before the Good Friday holidays. The indices rose 4.5% during the holiday-cut week, while their large Asian counterparts underperformed due to the uncertainty about US rates and concerned about its effects on economic growth. This week, financial shares coincided over the prospects of healthier net interest margins after the top lenders lowered their deposit tariffs, after lowering the central bank. ICICI Bank and HDFC Bank, the heaviest weighted stock on the Nifty, increased by 7.2% and 5.5% respectively to reach the lifelong peak before their earnings release over the weekend. Technically, Nifty has traded within a broad series of 21,700–23.800 in the past two months and has now reached the top of this tire. In addition, it has regained the most important moving averages-the 100 and 200-day EMAs. In the future, the prevailing positive momentum is expected to continue, with a possible upside to the 24.250-24.600 zone. In the case of a dip, the 23,000-23,300 zone is likely to act as a support. A sharp decline in the volatility index (India VIX) also indicates a reduction in the market fear after recent hijacking. Among the most important sectors, the continued strength in the banking index was crucial. It is now about to hit a new record high. The earnings of heavyweights such as HDFC Bank and ICICI Bank are expected to provide important clues to the next market movement. On the higher side, the index can target the 55,000-57,000 zone, taking into account the consolidation phase over the past nine months. In the case of any dip, the 51,900-53,400 zone is expected to provide strong support. Strategy lies ahead with signals suggesting that a continuation of the current recovery is a ‘buy on dips’ approach, is advisable until Nifty violates the 23,000 mark. Sector wise, course -sensitive segments such as banking, finance, car and property are still elected and advised to be selective in other sectors. Participation of the broader market is also visible, further strengthening the bullish sentiment, but focus should be on fundamentally healthy stocks, especially with the earnings season underway. First published: 19 Apr 2025, 23:23 IST