Nifty Jumps 6% — Strongest Week Since Feb 2021
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- Nifty climbed 5.89% week-on-week, breaching the 24,000 resistance mark, its best weekly performance since February 2021, with an 8.19% recovery from its 22182 swing low in just six sessions
- Bank Nifty outperformed with an 8.47% weekly surge — its highest weekly gain in the last couple of years — and is expected to test 56,700 then 57,500, with the 54,700–54,600 zone acting as crucial support
- Nifty Realty and Nifty Auto rallied 18.5% and 13% respectively from their April 2 lows, with the RBI's status quo on interest rates cited as the key trigger for rate-sensitive sector buying
- India VIX dropped nearly 35% from its March 30 high of 28.91, slipping below its 50-day EMA for the first time since February 12, 2026, signalling a clear cooling of volatility and a shift from 'sell-on-rise' to 'buy-on-dips' behavior
- TCS saw profit booking post Q4 earnings despite an 11.22% prior pullback, with the 2495–2490 zone flagged as immediate support and a breach potentially triggering further weakness
- HDFC Bank and ICICI Bank each rebounded 10.5–11% from their late-March/early-April lows, with private banks moving from the lagging to the improving quadrant on the Relative Rotational Graph ahead of their Q4 results
- Ola Electric skyrocketed nearly 81% in seven sessions from its March 30 low of 22.5 on strong volumes, while Adani Green rallied 35% from its March 24 low of 801
Why it matters: The rally's breadth — with midcaps, smallcaps, realty, and auto all up 7–18% — points to genuine risk-on conviction rather than a narrow index bounce, reinforced by the VIX contraction below its 50-day EMA. Traders now have clear technical levels: Nifty resistance at 24,300–24,500 and support at 23,650–23,600, with the buy-on-dips regime likely to hold as long as VIX stays below 17.2.
