With the BSE Sensex hitting 79,824 and the Nifty 50 index jumping to 24,242, the Indian stock market maintained its upward trajectory.
Today’s stock market: Tuesday saw the Indian stock market continue its upward trajectory for the sixth consecutive day amid growing economic uncertainties brought on by Trump’s tariffs and new hostilities between US President Donald Trump and US Fed Chairman Jerome Powell. The Nifty 50 index saw a 1,850-point surge in the last six sessions,starting the day higher at 24,185 and reaching an intraday high of 24,242. The 30-stock index reached an intraday high of 79,824,marking a 6,000-point increase in six consecutive sessions,while the BSE Sensex opened with a gap-up at 79,728,today.
Also Read : nifty 50 and sensex price today : April 21, 2025
The market is buzzing with speculation on whether the Nifty 50 index would be able to return to the 25,000 levels this month or if it will take some time, given that gold prices in the retail Indian markets have reached the historic ₹1 lakh per 10 gm levels. Experts in the stock market predict that the bull run on Dalal Street will continue because the factors that drove the Indian stock market and the main benchmark index are still in place. According to them,the benchmark index faces significant obstacles between 24,250 and 24,300 and between 24,800 and 24,850,as indicated by the Nifty 50 chart. For the 50-stock to reach 25,000,it must firmly break above these resistances.
Will the Nifty hit 25,000 this month?
When the Nifty hit 25,000 this month,Avinash Gorakshkar,Head of Research at Profitmart Securities,stated that the uncertainty around Trump’s tariff was a major catalyst for the advance in the Indian and Asian stock markets. However,bulls’ sentiment has been bolstered by the 90-day delay. Due to the US currency,equities,and bond markets’ downturn,FIIS has been compelled to withdraw funds from the US markets and invest them in developing nations like China and India. It is anticipated that FIIS will favor Indian markets over Chinese ones due to the tensions of the trade war. Therefore,any decline in the Indian stock market need to be interpreted as a chance to purchase.
The ICICI Direct analysis on the Indian stock market states,”Our statistical model suggests that a host of the negative news is now priced-in and has entered into base formation in the vicinity of 21900-23800.”
“The Nifty today tested the weekly swing high of 24,226.75 and is witnessing some profit booking,”stated Anshul Jain,Head of Research at Lakshmishree Investment & Securities,in reference to the Nifty 50 chart pattern. A strong daily close above this barrier can spur additional movement in the direction of the upcoming weekly swing high,which is 24,857.75.
Stocks that could support the Sensex and Nifty 50 :
“Metals displaying follow-up strength and IT,which is ready for a fast dead cat bounce,might drive the rally’s next leg. Keep an eye out for sector rotation because the index’s next move could be influenced by signals from these pockets,according to Anshul Jain.
Anshul Jain commented, “Nifty today faces two big hurdles — first placed at 24,250 to 24,300 and second placed at 24,800 to 24,850.” He asked if the Nifty 50 would be able to recover 25,000 levels this month. There are five more sessions this month before Tuesday. Today’s closing will determine a lot.
We can anticipate that the important benchmark index would surpass this immediate barrier tomorrow,setting a new objective of 24,800 to 24,850,if the Nifty finishes above or near 24,242 today.This would maintain the optimism that the 50-stock index will reach 25,000 this month.