India VIX is placed at 18.79 and has not cooled further, despite an earlier attempt toward the 17 levels.
Om Mehra,
Technical Research Analyst,
SAMCO Securities
FinTech BizNews Service
Mumbai, April 20, 2026: Nifty ended the session at 24,364.85, up 0.05%, as the index traded in a narrow range and closed almost unchanged after an initial attempt to extend gains.
Derivatives Analysis Report
Nifty near Key Barrier
The formation of a doji near recent highs indicates indecision and points to resistance at elevated levels.
On the daily chart, Nifty is trading around the 50% Fibonacci retracement level near 24,250 and continues to hold above this zone on a closing basis, which keeps the short-term trend intact. However, the index is now approaching the 50-day SMA near 24,400, which is acting as an immediate hurdle and aligns with the recent swing zone.
The sequence of higher lows remains intact, but follow-through at higher levels is slowing.
The RSI is placed near 57, while the CCI remains elevated, suggesting that the index is trading in the upper range of its recent move. The DMI structure shows +DI holding above –DI, but the gap has narrowed, indicating reduced directional strength.
India VIX is placed at 18.79 and has not cooled further, despite an earlier attempt toward the 17 levels.
On the upside, 24,400–24,500 remains the immediate resistance zone. On the downside, 24,200–24,000 remains the immediate support band.
Nifty may enter a phase of consolidation within a wider range unless a decisive move above the resistance zone is confirmed.
Nifty Bank ended the session at 56,582.35, up 0.03%, remaining marginally flat as the index traded within a narrow range and closed largely unchanged, indicating a pause after the recent up move.
On the daily chart, the index continues to trade around the 50% Fibonacci retracement level near 55,800 and is holding above this zone on a closing basis, keeping the near-term trend intact. However, the index remains below the 61.8% retracement level near 57,200, which continues to act as an immediate resistance zone.
The 50-day moving average, placed around 57,100, is acting as an overhead hurdle. The primary trend remains intact, but momentum is gradually slowing.
The RSI is placed near 56, while the DMI structure shows +DI marginally above –DI, though the narrowing gap indicates reduced directional strength.
On the upside, 56,800–57,200 remains the immediate resistance zone. On the downside, 56,000–55,600 remains the immediate support band, and holding above this range will be important to maintain the current trajectory.
