On April 1, the Indian stock market is expected to open favourably, supported by favourable indications from the global market. Experts are keeping a close eye on the shifting patterns in the market and forecast a bull market.
Overview of the Index
The Nifty 50 and Sensex, the major Indian markets, have been exhibiting encouraging signals. The Indian benchmark index’s indicator, the Gift Nifty, was trading at about 22,530, which is over 40 points higher than the Nifty futures’ most recent closing.
Market Outcomes
Taking cues from strong global trends, domestic equities indices concluded the previous trading day on a high note. The Sensex increased by 655.04 points to settle at 73,651.35, while the Nifty 50 closed above the 22,300 mark. At 22,326.90, the Nifty 50 finished 0.92% higher, or 203.25 points higher.
Volatility of the Market
The Nifty 50 recently produced a respectable bull candle, signifying significant market volatility. Analysts anticipate that the Nifty will rise after finding support at the lows. On the Nifty weekly chart, there was also a follow-through upward movement.
Short-term Uptrend
Nifty’s near-term uptrend is still intact, according to market watchers, despite its excessive volatility. This week, the next upside levels to keep an eye on are between 22,500 and 22,600.
On March 28, the Nifty 50 index saw a clear intraday upward breach of the range with significant volatility and ended the day up 203 points.
Bank Nifty
On March 28, the Bank Nifty index finished at 47,125, up 339 points. Should this barrier be decisively broken, the index might rise as high as 48,000.
Important Elements Affecting the Market
The market’s moves in the upcoming week will be shaped by a number of important factors. These comprise the interest rate decision made by the Reserve Bank of India, macroeconomic information, worldwide patterns, and foreign investor trading activity. The performance of the Brent crude oil price and the rupee-dollar exchange rate will also have an effect on the equities markets.
Industry Outcomes
There will also be an emphasis on the performance of other sectors. Starting on April 1, the auto industry is anticipated to release March sales figures. Investors will also be watching for important US economic data releases and the speech of US Federal Reserve Chairman Jerome Powell.
Market Prospects
Investors can still find opportunities in some areas of this erratic market. It may be possible to get beneficial returns on the stocks of businesses like HDFC Bank, Infosys, Adani Total, GRSE, YES Bank, and L&T Finance.
Hazards and Difficulties
Expectations of market volatility remain despite the good momentum because of the MPC’s policy meeting. Investors should keep a careful eye on signs from around the world, especially from the strong US markets and the performance of the Japanese indices.