StockEdge Morning Market Report | Friday, 10 April 2026

Nifty 50 declined 222.25 points (-0.93%) to close at 23,775.10, while Bank Nifty fell 882.20 points (-1.58%) to end at 54,821.70.
Metal, Defence and Power sector were amongst the top gainers. Market breadth was strong and the quantum of FII selling also has reduced which we see as positive. They net sold ₹1,711 Cr .
US markets saw a second day of strength and follow on buying after the temporary cease fire announcement.

Nifty 50
After a huge 700 point rise and a 2000 point rally in 4 trading session , some consolidation is absolutely normal and healthy. It helps the markets to digest the gains and gives better opportunities to re enter . The setup is good. The prices trade above averages . 24350 is the immediate level which can be gradually tested , and 24850 – where the 200 EMA lies. We expect the index will slowly test these levels. The 50% of the gap zone ie 23450 acts as a strong support , and a Lakshman Rekha for the bulls. There are lot of stocks which has decent opportunities with favourable risk – reward. Focus on stock specific action.

Bank Nifty
Bank nifty also retraced. The setup remains strong . There is some strong weekly resistance at 55700. The index is expected to trade with a positive bias.

Conclusion
The pullback is a routine pullback. The index is expected to trade with a positive bias. Be stock specific as better opportunities lie there.

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