Market Pulse: NIFTY Insights

📉 Market Snapshot

🔹 NIFTY closed at 22,535 (▲ 374 points / +1.68%) after a sharp bounce, recovering from Monday’s sell-off.

🔹 Sentiment turned mildly positive on hopes that Trump may delay tariff hikes, though no confirmation yet.

🔹 All sectoral indices closed in the green.

🔹 Market also anticipates a possible rate cut in the upcoming RBI Monetary Policy.

🔹NIFTY Expiry day tomorrow (April 9) – volatility expected.

🔻 Downside Levels (Support)

🔹 22,366 – 22,275 – Crucial short-term support zone.

🔹 A  sustain or close below 22,275 could trigger further downside towards 22,000–21,800

🔹 21,800 – Key level successfully defended in recent sessions.

📈 Upside Levels (Resistance)

🔹 22,700 – Intraday high today; NIFTY needs to sustain above this to attempt a breakout.

🔹 22,866 – 22,971 – Gap zone + 20-day moving average; likely to act as resistance.

🔹 A close above 22,971 could confirm bullish continuation.

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📊 Open Interest (17 APR Expiry)

🔹 NIFTY 22000 – CALL OI: 1.82L | PUT OI: 5.38L
🔹 NIFTY 22300 – CALL OI: 2.45L | PUT OI: 18.00L
🔹 NIFTY 22500 – CALL OI: 16.05L | PUT OI: 17.06L
🔹 NIFTY 22600 – CALL OI: 6.45L | PUT OI: 6.65L
🔹 NIFTY 22800 – CALL OI: 6.58L | PUT OI: 2.65L

 Key Insights from Open Interest Data:

🔹 Strong Put writing at 22,300 & 22,500 – Indicates solid support around these zones.

🔹 Call OI buildup at 22,800 & 22,600 – Suggests resistance and limited upside unless fresh buying comes in.

🔹 OI data suggests expiry could stay between 22,300–22,700 unless there’s a policy-driven move.

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FII & DII Activity 

🔹 FII Cash Market: ₹-4,994.24 Cr 
🔹 DII Cash Market: ₹3,097.24 Cr 
🔹 FII Index Futures: ₹-331.16 Cr 
🔹 FII Index Options: ₹66,127.58 Cr 
🔹 FII Stock Futures: ₹-367.23 Cr 
🔹 FII Stock Options: ₹-750.65 Cr 

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NSE F&O Ban

• BSOFT
• HINDCOPPER
• MANAPPURAM

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🔔 Conclusion:

NIFTY staged a strong comeback after a steep drop, but tomorrow’s weekly expiry and RBI policy will drive the next move. Watch out for sustained action above 22,700 or below 22,275 for further direction.