After a gap down, benchmark indices witnessed a recovery from the lower levels.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, April 13, 2026: Today, after a gap down, benchmark indices witnessed a recovery from the lower levels. The Nifty ends 208 points lower, while the Sensex was down by 700 points. Among sectors, the Defence index gained 0.5 percent, whereas the Auto index lost the most, shedding over 2 percent. Technically, on the backdrop of weak global sentiment, the market opened with a gap of 460 points but, post gap down, it witnessed a modest recovery from the lower levels. From the day's lowest level, it recovered over 287 points.
We believe that 23,900/77500 would act as a key resistance zone for traders. As long as the market is trading below this level, the weak sentiment is likely to continue. On the downside, it could retest the levels of 23,600-23,500/76600-76300. On the flip side, above 23,900/77500, the sentiment could change. Above this level, it could move up to 24,100/78100. Further upside may also continue, which could lift the index up to 24,200/78400.
