StockEdge Morning Market Report | Tuesday, 7 April 2026

Nifty 50 closed at 22,968.25 — up 255.15 points (+1.12%), staging a sharp intraday rally after a volatile session reopening from the long weekend. The index opened lower around 22,665 on mixed global cues, dipped early, but powerful buying emerged mid-session closing near the day's highs. As we highlighted in the prior report, the 22,000 zone was a critical base — that base held and the market extended its recovery.
Bank Nifty and Real Estate sector were amongst the top gainers. Broader markets were strong. FII’s continue to sell and have sold approx. 8100 cr yesterday.
GIFT Nifty —is 120 points down, indicating a muted opening.

Nifty
The index has now put in two consecutive recovery sessions off the 22,182 capitulation low — as highlighted repeatedly, that 21,750–22,000 zone was the structural support. We do see some base formation and a meaningful positive divergence setup on the RSI and the Stochastic indicators. The daily MACD has given a BUY trigger. We expect that the recovery may continue and extend till 23350 and 23800 zone. Given that prices still trades below all key averages – one has to be agile, and focus on broader markets – smallcap and midcap stocks.

Bank Nifty
Bank Nifty's surge from the 49,954 intraday low to close above 52,400 is a powerful 2,400-point recovery. The weekly long-legged Doji called out in yesterday's report has resolved bullishly. The index outperformed Nifty (+1.72% vs +1.12%), a positive sign. RBI MPC tomorrow. An extended recovery can be seen to test 54500 zone.

Conclusion
The market is attempting a sentiment-driven pullback — geopolitics, not fundamentals, is the current driver. The broader markets have greater opportunities. There is an attempt for a base formation. Expect an extended recovery.

For more market insights and analysis, visit https://sedg.in/3btdq6gx