The benchmark Nifty 50 rose more than 150 points on April 17, closing at 24,354, marking a total weekly rally of 1.26 percent. This increase follows a nearly 10 percent rise from the April low of 22,182. The index faced resistance at 24,400 for the second consecutive week, with experts noting that a move above this level could lead to a rally toward 24,700–24,800. Support is identified at the 24,100–24,000 levels.
The Bank Nifty also performed well, gaining 479 points to close at 56,566, with a weekly increase of 1.17 percent. Immediate resistance for Bank Nifty is noted in the 56,900–57,000 zone, while support is at 56,100–56,000. The India VIX declined 4.87 percent to 17.2, signaling comfort for bullish sentiment, although it needs to fall further below the 15 level for stronger support.
