The Nifty 50 continued its recovery, closing 1.6 percent higher on April 15. This performance was driven by optimism around potential US–Iran negotiations and a decline in oil prices below US$100 per barrel. The index surpassed the 50-day EMA (24,189) and maintained this position for the first time since February 23. If the index holds above the 50-day EMA, a rally toward the 24,400–24,500 range is possible. Immediate support is at the 24,000–23,900 levels.
The Nifty 50 surged more than 9 percent in eight sessions from the April low. Indicators remain supportive, with the RSI at 55.86 and the MACD trending higher. The index opened at 24,164 and finished at 24,231, up 389 points. The banking index also rose, closing at 56,302, above the 50-day EMA for the first time since February 27. The 200-day EMA zone of 56,700–56,800 will act as key resistance, while immediate support is at 55,800–55,700.
