Nifty and Nifty Bank index have risen sharply last week. The US-Iran ceasefire announcement came as a strong trigger for this rise.
If we breakdown the last one-week movement into two parts, that is before and after the ceasefire announcement, we get some interesting observation.
In the three trading days before the #ceasefire, Nifty 50 was bought on every dip.
Then after the ceasefire announcement, Nifty opened with a huge gap-up. Then it was able to hold on higher for the rest of the week without falling back
These are good positive signals indicating that fresh buyers have started to come into the market.
On the charts, the picture is positive. We can expect the Indian benchmark indices to move higher in the coming weeks.
Nifty has supports at 23,700 and 23,500. Nifty can rise to 24,500 and 25,000 in the near-term. The upside remains open to see 26,500 over the medium term.
Nifty Bank index has supports at 53,900 and 53,600. It can rise to 58,000 and 60,000 in the coming weeks.
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Published on April 11, 2026