Market To See Gap-Up Opening On Wednesday? GIFT Nifty Trades Higher Amid Global Cues

Last Updated:March 31, 2026, 5:48 PM IST

Nifty Prediction For Wednesday, April 1: The GIFT Nifty trades at 22,507.5, or 0.33% or 75 points, indicating a mild gap-up opening in Indian equity market on April 1.

Nifty Prediction For Wednesday, April 1.

Nifty Prediction For Wednesday, April 1: Domestic equities may open on a firm note on Wednesday, tracking gains in the GIFT Nifty, which was trading in the green on Tuesday, signalling a possible rebound after two consecutive sessions of sharp losses.

The GIFT Nifty, or Nifty futures, was up around 0.7% in afternoon trade and touched an intraday high of 22,682.5, indicating a likely positive start for benchmark indices Sensex and Nifty. However, the index cooled a bit to trade at 22,507.5, or 0.33% or 75 points, at around 3:30 pm on Tuesday.

The uptick comes amid improving global cues and a marginal cooling in crude oil prices, which had earlier weighed heavily on sentiment.

The positive signal follows a weak end to FY26, where markets came under pressure due to escalating tensions in West Asia, rising crude prices, continued foreign institutional outflows, and subdued cues from Asian peers.

On Monday, the Sensex plunged 1,635.67 points, or 2.22%, to close at 71,947.55, after slipping as much as 1,809 points intraday. The Nifty also declined 488.20 points, or 2.14%, to settle at 22,331.40. Over the past two sessions, the Sensex has dropped 3,325.9 points (4.41%), while the Nifty has fallen 975.05 points (4.18%).

Despite the recent sell-off, analysts believe the market may be nearing a short-term support zone.

Hitesh Tailor of Choice Equity Broking said immediate support for Nifty is placed in the 22,150-22,200 range, while resistance is seen between 22,450 and 22,500. He noted that the RSI stands at 32.01, indicating the index is hovering near oversold territory, though underlying weakness persists.

Rupak De of LKP Securities said the index is showing signs of a potential rebound, supported by a hidden positive divergence on the daily RSI. He added that 22,200 is a crucial support level, and a recovery could emerge from Wednesday unless this level is breached.

However, not all analysts are convinced of a turnaround. SAMCO Securities noted that momentum indicators remain weak, with RSI in the 30-32 range, suggesting bearish strength is still intact and buying interest remains limited.

Nandish Shah of HDFC Securities said the short-term trend continues to be weak, with the index trading below key moving averages and recent swing lows. He sees 22,800 as an immediate hurdle, while the 21,700–21,900 band could act as downside support.

For the full financial year 2025-26, benchmark indices ended in the red, with the Sensex declining 7% and the Nifty falling 5%, reflecting the impact of global uncertainties despite strong domestic fundamentals earlier in the year.

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