The Capital Market index outperforming, rallying over 3.5 percent
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, April 15, 2026: Today, the benchmark indices opened with a gap up and maintained positive momentum throughout the day. The Nifty ended 389 points higher, while the Sensex was up by 1264 points. Among sectors, all the major sectoral indices traded in positive territory, with the Capital Market index outperforming, rallying over 3.5 percent.
Technically, after a gap-up opening, the entire day witnessed range-bound activity. On daily charts, it has formed a small bullish candle, while on intraday charts, it is holding a higher bottom formation, which is largely positive.
We are of the view that the intraday market texture is upward, but for day traders, it would be ideal to buy on intraday dips and sell on rallies. On the downside, 24,000/77500 and 23,900/77300 would act as key support zones, while 24,450–24,500/78500-78700 could serve as crucial resistance levels for the bulls. However, below 23,900/77300, the sentiment could change. In that case, traders may prefer to exit their long positions.
