StockEdge Morning Market Report | Monday, 6 April 2026

Nifty 50 opened at 22,383 — gap-down — hit a low of 22,182, then staged a late recovery to close at 22,713.10, up just 33.70 points (+0.15%). There has been strength in the broader markets.
Sectors: IT stocks led gains. FII Sold ₹9931 Cr.

Nifty 50
The index has showed phenominal intraday recovery on Thursday after the gap down and geo political developments. As highlighted repeatedly earlier that that there are some initial signs of a base formation and divergence on the nifty daily charts. 21750 – 22000 is a very important support zone based on multiple technical tools. The index may see an extended pullback – which can test 23000 , and 23350 . We still call this as a temporary pullback and not a reversal yet.

Nifty Bank
Bank Nifty formed a long legged doji on the weekly charts. A move beyond 52000 will have an extended pullback .

Conclusion
We may see a temporary pullback given the oversold scenario and digesting other macro factors and broader market strength. Stay agile and nimble. Focus on reduced capital allocation – to trade short moves in the markets.

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