Nifty Eyes 25,000 as Technical Indicators Signal Bullish Momentum

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Index nears key 24,750 resistance; FMCG rally led by Nestlé India, defence stocks surge on policy optimism

By S. JHA

Mumbai, April 21, 2026 — Indian equity markets ended on a strong note despite a subdued start, with the Nifty 50 gaining 0.87% to close comfortably above the 24,550 mark. The session reflected improving sentiment, as steady buying interest across sectors lifted benchmark indices through the day.

“Technically, the index is currently trading between its 50 and 100-day exponential moving averages (DEMA), indicating a favourable near-term bias. From a Fibonacci retracement perspective, the Nifty 50 is approaching a crucial resistance zone,” said Angel One in a market note shared with clients.

This 61.8% retracement level coincides with the 100 DEMA near the 24,750 mark, making it an immediate resistance. “A decisive breakout above this level could revive bullish momentum and potentially push the index towards the psychological 25,000 level in the near term,” added the brokerage firm.

On the downside, support levels have shifted higher. “Immediate support is placed around 24,350, followed by a stronger cushion in the 24,260–24,220 range, where the 50 DEMA aligns with the 50% retracement level, offering a strong technical base against any correction,” said analysts.

Broad-Based Rally Led by FMCG, Defence Stocks

Sectorally, markets witnessed a broad-based rally. FMCG stocks extended their upward momentum, led by Nestlé India Ltd, which surged nearly 7% after reporting robust quarterly earnings. “The FMCG index itself gained over 2%, reflecting strong investor interest in defensive plays,” added the Delhi-based brokerage.

Defence stocks also rallied up to 6%, driven by optimism surrounding Defence Minister Rajnath Singh’s visit to Germany aimed at finalising a bilateral defence industrial roadmap.

Among individual stocks, PNB Housing Finance posted a strong Q4FY26 performance, with assets under management crossing ₹90,000 crore and net profit rising 19% year-on-year to ₹656 crore.

“Zen Technologies shares surged over 28% in a month, hitting an intraday high of ₹1,825, backed by strong growth guidance and rising demand in the anti-drone segment,” said Angel One.

Meanwhile, Transrail Lighting gained over 5% after announcing a significant capacity expansion at its Butibori facility.

Global Cues Remain Uncertain

Global markets remain cautious, with sentiment hinging on ongoing geopolitical developments, particularly negotiations between the US and Iran. Investors are closely watching the outcome, as it could have a significant bearing on global risk appetite and energy markets.

Mutual Funds Bet on Apple

In a notable global investment trend, Indian mutual funds have maintained a bullish stance on Apple Inc., holding over 7.65 lakh shares worth ₹1,828 crore across eight schemes as of March 31, 2026, said Angel One.

The development comes amid leadership changes at the tech giant, with Tim Cook announcing his resignation and John Ternus expected to take over as CEO.

Outlook

With technical indicators favouring the bulls and sectoral participation broadening, the Nifty 50 appears poised for a potential breakout. However, global uncertainties and key resistance near 24,750 remain critical factors to watch in the coming sessions.

Disclaimer: This article makes no recommendation for any kind of trading or investment decisions in the stock market.