View: Neutral to bearish, if channel breaks then view can change

Need a strong move above 50750 for trend confirmation. Until then, play light.

Let’s see what happens in the market today

RBI Credit  Policy Announcement Today at 10Am

RBI Policy:

Rate cut by 0.25%

*Viral News*

Stocks to Watch Today: Senco Gold, Phoenix Mills, Home First Finance, Concord Biotech, Sasken Tech, BPCL, IRB Infrastructure in focus on 9 April

MPC meet: RBI revises India's GDP growth projection to 6.5%

Rate-sensitive stocks outshine as RBI MPC cuts repo rate by 25 bps, changes stance to 'accommodative'

A year on, CEO Srinivas Pallia steers Wipro steady but turnaround journey isn’t over

Despite tariff jitters, DIIs keep the faith with a Rs 2 lakh crore bet on equities in 2025

Pharma stocks fall up to 5% as Donald Trump to announce pharma tariffs

Tata Steel, JSW Steel, other metal stocks slip up to 3% after 104% tariff escalates US-China trade tensions

Senco Gold shares hit 5% upper circuit as it posts highest-ever revenue in Q4 update

Chinese stocks resume slide as Trump raises trade war stakes

Zomato rebrands itself as Eternal on stock exchanges; shares dip 2%

Good morning, all

In the previous trading session, the markets shows bullish momentum

Nifty closed at 22828, up by 1.92% and Bank Nifty ended at 51002, gaining 1.52%

NIFTY ANALYSIS

Nifty formed a bullish candle but resistance holds

Open Interest data

PCR at 0.8 around ATM and overall - neutral

Support: 22,800
Resistance: 23000

View is cautiously bullish, Sustained above 23000 then look for bullish trades

Bank Nifty Analysis

BNF formed a strong bullish candle, reflecting sustained buying pressure

Nifty Bank futures OI increased by 2.66%, indicating Long Buildup

Support: 50,500
Resistance: 51,200

View:The combination of a bullish candlestick and long buildup in OI suggests a positive outlook. A sustained move above 51,200 would reinforce bullish sentiment