Trade Setup for April 9: Nifty eyes 22,700–22,800 as key resistance zone

The Indian stock market surged on Tuesday, with benchmark indices posting strong gains. The NSE Nifty 50 jumped by 374.25 points (1.69%) to close at 22,535.85, while the BSE Sensex surged 1,089.18 points (1.49%) to end the day at 74,227.

This rally came as a relief rebound, helping Nifty regain its momentum. However, analysts are closely watching the 22,700–22,800 range, which is expected to act as a strong resistance in the near term.

As we head into the April 9 session, market participants will be looking for cues around global trends, earnings season updates, and any movement in crude oil prices or bond yields.

Key Levels to Watch:

Support: 22,400 – 22,350

Resistance: 22,700 – 22,800

Traders are advised to remain cautious near resistance levels and use dips to accumulate quality stocks.