The benchmark indices continued their positive momentum, with the Nifty ending 212 points higher
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, April 21, 2026: Today, the benchmark indices continued their positive momentum, with the Nifty ending 212 points higher and the Sensex up by 753 points. Among sectors, almost all major sectoral indices traded in positive territory, with Reality and FMCG indices gaining the most, rallying over 2 percent. Technically, on daily charts, the index has formed a bullish candle, and on intraday charts, it is holding an uptrend continuation formation, which is largely positive.
We are of the view that the short-term market texture is bullish, but due to temporary overbought conditions, some profit booking may occur at higher levels. For day traders, 24,500/79,000 would act as immediate support zones. Above these levels, the market could continue its positive move towards 25,750–25,800 / 79,800–80,000. Conversely, below 24,500/79,000, we could see a quick intraday correction. Below these levels, the market could retest the levels of 24,350–24,300 / 78,700–78,500.
