Nifty Prediction TodayIn line with our earlier view, Nifty has started stabilizing near the bullish gap formed on 08 April 2026. The index has taken support around the crucial 50%–61.8% retracement zone of the previous up move, indicating buying interest at lower levels. Further, a bullish hidden divergence on the hourly chart signals underlying strength despite recent volatility. These technical developments suggest that downside pressure may be easing gradually. Hence, we expect Nifty to witness base formation in the 23,300–23,400 zone, which could act as a key support area ahead.Nifty Support and Resistance Level L1L2CloseResistance23,60023,75023,412Support23,30023,200 Exponential Moving AveragesExponential Moving Averages 200 DEMA24,701.0121 DEMA23,928.36Bank Nifty Prediction TodayBank Nifty is currently showing resilience near the bullish gap created on 08 April 2026. The index has managed to hold the key retracement cluster of 50%–61.8% of the prior rally, highlighting strong support at lower levels. In addition, the hourly chart indicates a bullish hidden divergence, suggesting strength is gradually building beneath the surface. These signals point towards exhaustion in the recent corrective phase. Therefore, Bank Nifty is likely to consolidate and develop a solid base around the 23,300–23,400 zone, which may act as an important cushion for the index in coming sessions.Bank Nifty Support and Resistance Level L1L2CloseResistance54,00054,20053,456Support53,30053,000 Exponential Moving AveragesExponential Moving Averages 200 DEMA56,497.6321 DEMA55,068.56Share Market News and Events TodayPositive NewsPNC Infratech: The company has emerged as the L1 Bidder for a Rs 572 crore construction project floated by the UP State Bridge Corp.VA Tech Wabag: The water technology company has signed a pact with PEAK Sustainability Ventures to develop its first Bio-CNG plant in Uttar Pradesh.Interarch Building: The company has signed a Memorandum of Understanding (MoU) with Canada’s ER Steel to expand its Pre-Engineered Building (PEB) and structural steel business into North America.GR Infraprojects: The infrastructure firm has completed a Rs 927 crore road project in Punjab, receiving the official completion certificate from the Independent Engineer.Negative NewsIIFL Finance: The NBFC has repurchased and settled $12 million out of $425 million outstanding senior secured fixed-rate notes at a premium.

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