Stock Market Technical Analysis | 30 Mar to 3 Apr 2026 Weekly Wrap

Markets showed resilience amid volatility, but sector rotation and FII selling hint at deeper trends. Here’s a sharp breakdown of where smart money is moving next.

Expert recommendation by:

• Mr. Ketan Kaushik - Derivative Analyst

Equity

• Benchmark Index traded volatile in the previous week before closing with 0.47% cut at 22713 level. Banking Index underperformed the benchmark index as it closed with 1.39% cut at 51549 level.
• Among the Nifty constituents, HINDALCO and TRENT outperformed the benchmark index as they closed with 5.7% and 4.4% gains while HDFCLIFE and SUNPHARMA underperformed as they closed with 7.2% and 5.6% cut respectively. Among the Bank Nifty constituents SBIN outperformed the benchmark index as it closed with 0.11% cut while BANKBARODA underperformed the benchmark index as it closed with 4.13% cut.
• Among sectors, NIFTYIT index outperformed the benchmark index during the previous week as it closed with 3.05% gain while NIFTYPHARMA index underperformed as it closed with 3.36% cut. MIDCAP index performed in line with the benchmark index as it closed with 0.78% cut while SMALLCAP index performed better than the benchmark index as it closed with 0.20% gain.
• Volatility index (India VIX) closed with 4.78% cut at 25.52 level.
• FII were net sellers as they sold stocks worth Rs 29,425 Cr while DII were net buyers as they bought stocks worth Rs 29,275 Cr during the previous week in the cash segment.
• Globally, equity markets traded with positive bias as both US market (DJIA) and European market (STOXX 600) closed with 2.96% and 3.71% gain respectively.

Derivatives

• Derivatives data for Nifty suggest max OI addition at 24000 call and 20100 put with max OI at 24000 call and 20200 put side (07th Apr expiry). Nifty cumulative PCR closed at 1.09 for Apr 02.
• Derivatives data for Bank-nifty suggest max OI addition at 54000 call and 50000 put with max OI at 60000 for both side call and put side (28th Apr expiry). Bank-nifty cumulative PCR closed at 0.85 for Apr 02.

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Performance:

Indices

Source: NSE

Sector Gainers/Losers

Source: NSE

FII / DII ACTIVITY (WEEKLY)

Source: NSE

SUPPORT/RESISTANCE LEVEL FOR UPCOMING WEEK

Source: NSE

DAILY EXPONENTIAL MOVING AVERAGE

Source: NSE

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

• Benchmark index traded volatile in the previous week and closed with indecisive candlestick formation on the weekly chart
• Benchmark index is likely to trade volatile in the coming week
• Benchmark Index has support at 22,100–21,900 level and resistance at 23,300–23,500 level

BANKNIFTY (WEEKLY)

• Banking index underperformed the benchmark and closed with indecisive candlestick formation on the weekly chart
• Banking index is likely to trade in line with the Benchmark index in the coming week
• Banking index has support at 50,000-49,500 and resistance at 53,000 -53,500 level

FINNIFTY (WEEKLY)

• FINNIFTY index performed in line with the banking index and closed with indecisive candlestick formation on the weekly chart
• FINNIFTY is likely to trade in line with the banking index in the coming week
• FINNIFTY has support at 23,400-23,100 level and resistance at 24,700-24,900 level

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Market FAQs – Weekly Summary

What is the current trend of Nifty?

Nifty remains range-bound with resistance near 24000 and support around 20200 based on derivatives data. Volatility and FII selling suggest cautious sentiment in the near term.

Why did Bank Nifty underperform?

Bank Nifty lagged due to selling pressure in key stocks like Bank of Baroda and weak participation compared to broader markets.

Which sector performed best last week?

The IT sector outperformed with a 3.05% gain, driven by positive global cues and buying interest.

What does FII and DII activity indicate?

FIIs were net sellers while DIIs provided support, indicating institutional divergence and limited upside momentum.

What is the outlook for next week?

Markets may remain volatile with a range-bound bias. Key levels and global cues will drive direction.

Before You Trade, Strengthen Your Foundations with These Guides

• For a stronger understanding of indicators such as RSI, VWAP, and trendlines, check our 👉 Technical Analysis Fundamentals section.
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• Track real-time trends and weekly movement on our 👉 Gift Nifty Live Dashboard
• Learn how to interpret derivatives data for better trading decisions. 👉 Advanced Trading Strategies