Nifty Strengthens Relief Rally, Eyes 23,500-23,600 Zone
By HDFC SKY | Updated at: Apr 7, 2026 05:48 PM IST
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The relief rally has strengthened further and Nifty registered a decent gain for the third consecutive sessions on Tuesday and closed the day higher by 155 points. After opening on a weak note, the market slipped into further declines soon after the opening. Sharp recovery was seen from the lows and the upside momentum continued in the mid to later part of the session.
A long bull candle was formed on the daily chart with lower shadow. Technically, this market action indicates an attempt of decisive breakout of crucial hurdle around 23000 levels. This is positive indication and the sharp bounce back of the last three sessions signal formation of crucial bottom reversal pattern in Nifty at the recent low of 22182.
The underlying trend of Nifty continues to be positive. The next upside levels to be watched around 23500-23600. Immediate support is placed at 22900.
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Please Note: The information shared is intended solely for informational purposes and does not make any investment recommendations
