The Nifty 50 surged 5.89% in Week 14 ((6th April to 10th April, 2026), breaking its prolonged bearish LHLL structure and forming a bullish HHHL pattern. With cooling volatility, easing crude oil prices, and improving global cues, the market shows early signs of recovery. However, resistance near key moving averages and continued FII selling suggest caution. Explore key levels, sector performance, and outlook for the coming week.
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Nifty50 |
|||
|
Week High |
Week Low |
Market structure |
Range |
|
24074 |
22543 |
HHHL |
1531 |
|
Nifty 50 |
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|
Start |
End |
Return (%) |
|
22713 |
24051 |
5.89 |
The Niftty 50 has delivered a strong comeback in Week 14, rising 5.89% and breaking its prolonged bearish structure. For the first time since Week 7, the index formed a Higher High–Higher Low (HHHL) pattern, ending the 7-week LHLL downtrend and signaling a potential trend reversal or relief rally. The sharp expansion in range (1531 vs 757 of previous week) and strong close near highs indicate aggressive buying interest.
Nifty 50 Technical Analysis (Weekly View)
Moving Averages:
|
Wk |
Current |
50 DMA |
200 DMA |
|
12 |
22820 |
24844 |
25244 |
Current rice has moved closer to 50 DMA. It is still below key averages signaling trend reversal is not fully confirmed yet. The market is transitioning from bearish trend to recovery phase.
Pivot level:
|
Pivot level (classical) |
||||
|
Resistance 1 |
24130 |
Pivot 23993 |
Support 1 |
23913 |
|
Resistance 2 |
24211 |
Support 2 |
25775 |
|
|
Resistance 3 |
24348 |
Support 3 |
23695 |
|
Current price has closed above pivot and near R1, indicating strong bullish momentum.
Indicators:
RSI: 54
RSI value of 54 indicates neutral to bullish momentum.
MACD: -601 Signal : -21) Improving (though still negative)
ADX of 34 shows strong trend strength.
ROC (21): 0.1 (It indicates early momentum shift)
Momentum is shifting from bearish to neutral/bullish, but confirmation is still developing.
India Vix : 18.85
Sharp drop from previous highs (~26+) indicates fear reduction and stability returning in the market. Market is shifting from panic to controlled recovery.
FII–DII Activity:
|
Net purchase/Sell (crore) |
|
|
FII |
DII |
|
-20710 |
21602 |
FII selling continues but is slowly reducing. DII buying remains strong proving support. Market continues to be domestic liquidity-driven, but pressure is easing.
Global Factors:
Brent Crude (94.45 USD)
Dollar Index (98.7)
Brent Crude at $94.45 has come down down from $100+ levels. It is positive for inflation outlook and corporate margins. The US Dollar Index is at 98.7, easing from 100+ levels. It is positive for emerging markets and FII sentiment improvement.
Domestic Macro:
CPI inflation: 3.1%
Forex reserves: $697.12 billion
For the month of February, CPI is at 3.1% which remains within RBI comfort range.
Macro environment remains stable and supportive
Market Interpretation
Week 14 marks a critical inflection point with break in LHLL structure, strong bullish up move with wide range, cooling volatility and improving global cues. However, price is still below 50 DMA, FII selling continues and MACD still negative. This suggests that the relief rally has potential for trend reversal, but not a confirmed bull trend yet.
Nifty has shifted from sell on rise to buy on dips. The coming weeks will decide whether this isa temporary relief rally or the beginning of a new uptrend.
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