The Indian stock market rallied for four straight sessions, with the Nifty 50 hitting a key resistance zone on April 17, closing 1.77% higher thanks to strong performance by banking stocks. However, early cues from the Gift Nifty suggest a mildly negative start on the next trading day.

🧭 Gift Nifty Update

• Trading at ~23,800, nearly 51 points below the Nifty futures’ previous close.

• Suggests a gap-down opening as traders turn cautious near resistance levels.

🔍 Market Snapshot

• Nifty 50 closed above the midline of the Bollinger Bands, indicating positive sentiment.

• India VIX fell sharply, supporting bullish momentum.

• Resistance zone seen at 24,000 — aligns with 50% Fibonacci retracement from the Sep 2024 high to the April 2025 low.

• A breakout above 24,000 could drive the index toward 24,200.

• Support range for pullbacks: 23,650–23,550.

🔔 Traders’ Tip: Stay nimble. Book partial profits near resistance and look for re-entry near the support zone if positive momentum holds.

🏢 Key Corporate Developments (And What They Mean for You)

Here’s a quick summary of stock-specific news and how traders might play them:

✅ Positive Triggers

• Jubilant Pharmova: Case against chairman closed.
  → Clean legal slate = investor relief.

• Shree Cement: Commissioned 3.4 MTPA grinding unit.
  → Infra play. Growth potential.

• BHEL: FY25 revenue up 19%; record ₹92,534 Cr orders.
  → Solid earnings + order book = long-term bullish.

• Divi’s Labs: ₹650–700 Cr capacity expansion + global supply deal.
  → Scalable growth story.

• Coal India (SECL): ₹7,040 Cr deal + new mining tech.
  → Operational upgrades boost sentiment.

• Ethos: New Dubai subsidiary expands international presence.
  → Global exposure = premium positioning.

• JSW Steel: €33M grant for Italian rail project.
  → Europe capex = positive diversification.

• Cipla & Emcure: USFDA finds issues, but only “Voluntary Action Indicated.”
  → No major threat; watch for dips.

• TVS Motor: New Apache RR310 model launched.
  → Two-wheeler demand remains solid.

⚠️ Neutral to Slightly Negative

• Vedanta: Court stayed ₹71.2 Cr environmental fine.
  → Temporary relief; uncertainty remains.

• Raymond: ₹45.4 Cr tax demand notice.
  → Sentiment hit possible.

• Gift Nifty cues: Suggest early profit booking near highs.
  → Watch how broader indices react post-open.

📌 Trading Strategy for the Week

1. Watch 24,000 on Nifty — a breakout could be fast and sharp.

2. Use weakness near 23,650–23,550 as a buying opportunity.

3. Sector focus: Banks, Infra, Select Pharma.

4. News-based moves likely in stocks like Biocon, Divi’s, Jubilant, Coal India, and BHEL.

5. Stay light on leverage as volatility can increase near resistance zones.

📈 Stay informed. Trade smart.
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