Nifty 50 Outlook: Week Beginning 28 April 2025

The Nifty 50 has shown impressive resilience over the past few weeks. After testing a strong support zone around 21,800 — a level that has held firm since early 2024 — the index staged a sharp recovery. This support proved crucial, helping Nifty absorb the volatility triggered by external factors, including the announcement of tariffs by former President Trump and the market uncertainty that followed.

Following this phase of correction and recovery, Nifty 50 not only regained its lost ground but also broke out to new highs. Recently, it retested the breakout zone around 23,900, a healthy technical development that often strengthens the foundation for a sustainable uptrend.

As long as 23,900 is protected on the downside, the overall trend for Nifty remains bullish. Interestingly, while the RSI had earlier hinted at a potential negative divergence, the recent retest seems to have resolved much of that concern, with the indicator stabilizing and aligning better with the price action.

Looking ahead, if Nifty 50 manages to hold above 23,900, the next major resistance to watch on the upside will be around 24,800. A strong move beyond this level could open up even higher targets, reaffirming the bullish momentum.

The coming week will be crucial to observe whether Nifty sustains above this retest zone, which would signal continued strength in the broader market.