StockEdge Morning Market Report | Thursday, 9 April 2026

Nifty 50 surged 873.70 points (+3.78%) to close at 23,997.35 — the strongest single-day gain in weeks. As called yesterday, the 700-pt gap-up materialised: the index opened around 23,855, held firmly through the session, and closed near the day's high — a classically bullish structure. The dual trigger: WTI crude crashed 14.88% to $96.14 on April 8 post the US-Iran ceasefire, and RBI held repo rate at 5.25% — neutral stance — unanimously, as the market had priced in. The market breadth and the broader market participation was excellent. The FII’s were again sellers but the quantum reduced.

Nifty 50
Nifty has decisively reclaimed the 13 EMA and closed above the 23,850 resistance flagged yesterday. MACD buy signal (triggered 2 sessions ago) is accelerating. Looking at the current setup – it is expected that the recovery could extend and test 24,300 (swing high/ and 55 EMA. Since the VIX remains elevated – there will be underlying volatility. 23850 now acts as an important support , with 23450 as a strong one.

Nifty Bank

Bank Nifty opened with a strong gap-up near 54,921, and further extended strength to close near the 50% retracement level of 55850. We could have some consolidation near this level before the next leg move.

Conclusion

Focus on the broader markets with stock specific opportunities.

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