Nifty 50, Sensex today: What to expect from Indian stock market in trade on April 2 ahead of Trump reciprocal tariffs

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Wednesday, tracking mixed cues from global peers ahead of US President Donald Trump’s reciprocal tariffs announcement. The trends on Gift Nifty also indicate a flat start for the Indian benchmark index. The Gift Nifty was trading around 23,327 level, a discount of nearly 4 points from the Nifty futures’ previous close.

On Tuesday, the domestic equity market crashed, with both the benchmark indices cracking over 1.5% each. The Sensex cracked 1,390.



41 points, or 1.80%, to close at 76,024.51, while the Nifty 50 settled 353.

65 points, or 1.50%, lower at 23,165.70.

Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex Prediction Sensex plunged 1,390 points to close at 76,025 on Tuesday, forming a long bearish candle on daily charts, combined with a correction continuation formation on intraday charts, indicating further weakness from the current levels. “For day traders, 75,800 would be the key support zone. If Sensex manages to trade above this level, we could expect a pullback rally to 76,500 - 76,650.

On the flip side, a dismissal of 75,800 could accelerate the selling pressure. If this level is breached, the Sensex could retest the levels of 50 day SMA (Simple Moving Average) or 75,500 - 75,300,” said Shrikant Chouhan, Head Equity Research, Kotak Securities. Given the current market texture is volatile, level-based trading would be the ideal strategy for day traders, he added.

Nifty 50 Prediction Nifty 50 witnessed sharp weakness on April 1 and closed the day lower by 353 points. “A long bear candle was formed on the daily chart with a long upper shadow. Technically this market action indicates an emergence of selling pressure from the overhead resistance of around 23,600 levels.

The positive chart pattern like higher tops and bottoms is still intact on the daily chart and the current downward correction could be considered as a process of higher bottom formation. However, the higher bottom formation needs to be confirmed,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the present weakness in the market seems to be a healthy correction after a recent sharp uptrend.

“Nifty 50 could find support around 23,000 levels before showing another round of upside bounce from the higher lows. Immediate resistance is placed at 23,400 levels,” said Shetti. Om Mehra, Technical Analyst, SAMCO Securities said that the Nifty 50 index formed a bearish candle on the daily chart with a long upper wick, indicating strong selling pressure at higher level.

“Although Nifty 50 has slipped below the 9-EMA (Exponential Moving Average), it continues to trade above the 50 and 100 EMAs, indicating that the broader bullish trend remains intact. While the hourly chart shows signs of a near-term pullback, the daily chart still maintains a higher high and higher low structure, supporting the overall uptrend,” said Mehra. According to him, the immediate support is placed at 23,000, while the next key support aligns with the rising trendline near 22,850.

The resistance on the upside is seen around 23,450. VLA Ambala, Co-Founder of Stock Market Today, believes that 23,400 to 23,800 remains a key resistance zone for the Nifty 50 index, where investors can benefit from adopting the sales-on-rise strategy. “I would recommend investors with short-term goals to adjust their outlook as market movement is expected to slow down compared to the past five years.

This can be a good time for smart investors to accumulate diverse, non-overlapping stocks from various industries. Technically, Nifty 50 can find support between 22,900 and 22,810 and face resistance near 23,250 and 23,410,” said Ambala. Bank Nifty Prediction Bank Nifty ended 1.

43% lower 50,827.50 on Tuesday, forming a bearish candle on the daily chart. “ Bank Nifty index remains on the verge of breaching its 9-EMA but holds above the 50- and 100-EMAs, indicating that the broader trend remains mildly supportive.

The daily RSI has turned slightly skewed to the downside, though it continues to hover near the 60 mark, suggesting a pause in momentum without a complete breakdown. Nifty Bank has slipped below the 23.6% Fibonacci retracement level placed at 51,000,” said Om Mehra.

According to him, the next key support for Bank Nifty lies near the 38.2% retracement level, around 50,390. On the upside, resistance is expected near 51,400.

With a major tariff event on the horizon, the index may oscillate with wider swings as uncertainty looms. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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