Nifty 50, Sensex today: What to expect from Indian stock market in trade on April 7 amid global markets crash

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open with steep losses on Monday, tracking global markets crash as concerns over US tariffs-induced global recession continued to rip through equities.

The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 22,128 level, a discount of nearly 830 points from the Nifty futures’ previous close.

Asian markets plummeted today, while the US stock market witnessed a sharp sell-off, with the Nasdaq Composite entering a bear market and the Dow Jones Industrial Average in a correction.

Last week, the US stock market nosedived for a second straight day on Friday as an escalating global trade war spurred the biggest losses since the pandemic, on fear that US President Donald Trump’s reciprocal tariff policy will fuel recession.

For the week, the S&P 500 fell 9.1%, the Dow declined 7.9%, and the Nasdaq slumped 10%.

On Friday, the Indian stock market crashed, with the Nifty 50 slipping below 23,000 level.

The Sensex slumped 930.67 points, or 1.22%, to close at 75,364.69m while the Nifty 50 settled 345.65 points, or 1.49%, lower at 22,904.45.

Here’s what to expect from Nifty 50 and Bank Nifty today:

Nifty 50 Prediction

Nifty 50 witnessed sharp selloff with broad based weakness on April 4 and closed the day lower by 345 points.

“A long bear candle was formed on the daily chart which indicates a decisive downside breakout of the range movement. Technically, this pattern indicates selling momentum after the formation of double top type pattern around 23,800 levels. Nifty 50 on the weekly chart slipped into weakness after the formation of doji type candle pattern in last week. We observe a negative reversal pattern in the last three weekly candles. Hence, more weakness could be in store,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the short-term trend of Nifty 50 remains weak and the downward correction seems to have gained momentum.

“Further weakness below 22,800 levels, Nifty 50 could slide down to the next lower trajectory of around 22,350 levels in the near term. Any pullback rally from here could find resistance around 23,150 levels,” Shetti.

Om Mehra, Technical Research Analyst, SAMCO Securities, noted that the Nifty 50 formed a bearish candle on the daily chart and slipped below both its 20-day and 50-day moving averages.

“Nifty 50 index has retraced 50% of the prior rally, measured from the swing low on March 4 to the recent high on March 25, indicating weakening momentum. Nifty has breached the support of the daily Supertrend indicator, further highlighting a waning undertone. The support is seen in the broader 22,600 zone. A break below this level could lead to a gap-fill and may pull the index towards 22,550,” Mehra said.

Nifty’s weekly loss of 2.61% suggests a cautious short-term outlook, as the recent correction may hinder a swift and sustainable recovery, he added.

VLA Ambala, Co-Founder of Stock Market Today said that on the technical side, Nifty 50 formed a bearish Marubozu candlestick pattern during the last session.

“If a gap opening occurs in today’s session, we could expect a wide trading range. Nifty 50 can expect support near 22,500 and 22,350 and meet resistance near 23,000 and 23,100,” Ambala said.

Bank Nifty Prediction

Bank Nifty ended the session at 51,502.70, registering a mild decline of 0.18%, yet outperforming its domestic sectoral peers amid widespread market turbulence.

“Bank Nifty index demonstrated resilience, falling significantly less than its sectoral counterparts at home. Bank Nifty oscillated within a parallel channel, broadly in an ongoing flag pattern on the daily chart. The daily RSI is signalling negative divergence, hinting at potential exhaustion in momentum. On the hourly chart, signs of mild weakness are emerging, and a short-term corrective move towards the 50,800 level cannot be ruled out,” Om Mehra said.

According to him, the support zone of 50,500 – 50,600 remains crucial and a sustained hold above this zone could act as a springboard for the index to resume its upward trajectory in the sessions ahead.

Bajaj Broking Research noted that the Bank Nifty on the weekly chart formed a small bull candle which remained enclosed inside previous week range signaling consolidation after recent strong up move.

“Bank Nifty index in the last 8 sessions has retraced just 30% of the preceding 9 sessions rally (47,703 - 52,063). A shallow retracement and a higher base above the recent breakout area (50,500 - 50,000) signals overall strength. We believe the current breather should be used as a buying opportunity in quality stocks in a staggered manner. Going ahead, we expect the index to gradually head higher towards 52,050 (last week high) and then towards 53,000 levels in the coming weeks being the measuring implication of the recent range breakout,” said Bajaj Broking Research.

While key support is placed at 50,300 - 50,700 levels being the confluence of last two weeks almost identical low, 20 days EMA (Exponential Moving Average) and recent breakout area placed around 50,500 levels, the brokerage firm said.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.