All major sectoral indices traded in positive territory, but the Media Index gained the most, rallying over 5 percent.
Shrikant Chouhan,
Head equity Research,
Kotak Securities
Mumbai, April 8, 2025: Today, the benchmark indices bounced back sharply, with the Nifty ends 374 points higher and the Sensex up by 1089 points. Among the sectors, all major sectoral indices traded in positive territory, but the Media Index gained the most, rallying over 5 percent. Technically, after a strong open market continued positive momentum throughout the day. Promising reversal formation and higher bottom formation on intraday charts suggesting pullback formation is likely to continue in the near future.
For day traders now, 22,330/73500 would be a key level to watch; above this level, a pullback wave could move up to 22,700/75000, with further upside potentially lifting the index to 22,800/75200. Conversely, a dismissal of 22,330/73500 could accelerate selling pressure. If this level is breached, the market could retest 22,110-22,000/73000-72800. The current market texture is extremely volatile and uncertain; thus, a level-based trading strategy would be ideal for day traders.
