Nifty, Sensex Today: Gap-up start likely for markets; can rally sustain amid fresh tensions? Anil Singhvi explains

Nifty, Sensex Today: Indian markets are likely to open higher on Wednesday. This comes after a strong rebound in recent sessions. The recovery follows six straight weeks of decline.
Global cues have turned supportive. Sentiment improved on hopes of easing tensions in the Middle East. But caution is back. Fresh developments around US–Iran talks are again creating uncertainty.

Gift Nifty signals positive start

Trends from GIFT Nifty suggest a strong opening. Nifty futures were trading near 24,210. This is up by 333 points or 1.38 per cent.
This indicates early buying interest. But the sustainability of gains will depend on global news flow.

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Rally driven by global optimism

Global markets, especially in the US, have seen a sharp rally. This was driven by hopes of a temporary ceasefire.
Oil prices also corrected. This gave relief to equity markets. Lower crude is positive for India.
However, the situation remains fluid. Talks between the US and Iran have not seen a clear breakthrough.

Fresh tension after talks weaken

Markets will react to the latest developments. Peace talks appear to have weakened. Statements from Donald Trump have added to uncertainty.
There is still no official confirmation of any agreement. Reports suggest talks may continue. But clarity is missing.
This could keep volatility high.

Trump–Modi call seen as positive

• In a supportive move, Donald Trump spoke with Narendra Modi.
• The call lasted around 40 minutes. Discussions included trade and energy routes.
• This is seen as positive for market sentiment.

Editor’s take: Anil Singhvi

Zee Business Managing Editor Anil Singhvi raised key questions for investors.

• Has the market assumed the war is over?
• Why did US markets rally for two days?
• How much relief comes from falling crude?
• Why did FIIs sell again?
• Where is strong support for the market?

He said markets often move before news becomes official. US markets are already near pre-war levels. This suggests investors are pricing in stability.

Key levels to track

Nifty saw a sharp fall earlier. It dropped from 25,178 on February 27 to 22,182 on April 2.

Around 24,035 marked two-thirds recovery

The index has already crossed that zone

Next target is 24,450–24,550

This zone is near the 50 DMA

Above this, the next major level is near 25,175.

For Bank Nifty:

It fell from 60,529 to 49,594

Around 55,250 marked 50 per cent recovery

Next level is 56,490

Above 56,500, target comes near 57,300

Strategy remains buy on dips

Singhvi said the strategy remains unchanged. The market is still a “buy on dips”.
He advised against aggressive shorting. He also said not to rush into profit booking after a gap-up opening.

• Nifty support seen at 23,925–24,050
• Bank Nifty support at 55,150–55,550

Investors should hold strong stocks. Traders should cut weak short positions.

What to watch

• Markets will track three key triggers.
• First, developments in US–Iran talks.
• Second, movement in crude oil prices.
• Third, FII activity.
• Stock-specific action will remain strong. ICICI Prudential Life may stay in focus after results.
• In the near term, volatility may stay high. But overall trend still supports buying on dips.