According to reports from Live Mint, during the week ending April 24, 2026, the Indian stock markets witnessed volatile movements with the Nifty 50 declining around 2%, broadly in line with market expectations amid escalating US-Iran war tensions and rising crude oil prices above ₹100 per barrel. The week began on a firm note, supported by positive global cues and hopes of diplomatic progress, pushing the Nifty above 24,500 mid-week. However, sentiment turned cautious later as crude prices firmed, IT stocks faced pressure following mixed earnings, and a broader risk-off environment emerged, leading to sharp declines with the Nifty slipping below 24,000 during the week.
As reported by Live Mint, Mehul Kothari, Deputy Vice President — Technical Research at Anand Rathi, believes the ongoing move signals a healthy pullback within a broader uptrend, rather than a structural breakdown. The Nifty 50 index is now gradually approaching the 23,600–23,500 support zone, which is likely to act as a crucial demand area in the near term. Kothari expects the index may bounce back strongly from this range and come close to the recent high of 24,600, eventually moving towards the 25,000 mark once the corrective phase stabilises.
According to Live Mint reports, the Bank Nifty index, after witnessing a recovery in the previous phase, faced resistance around the 61.8% retracement zone of 57,200–57,500, where it showed clear signs of rejection. Following this, the index drifted lower and even slipped below 56,000, confirming short-term weakness. The index is expected to find support around the 54,500 zone, which remains a crucial demand area, with potential recovery towards 57,500 and a break above it in subsequent phases.
As reported by Live Mint, Mehul Kothari of Anand Rathi recommended three short-term picks for stocks under ₹200: ABFRL with a buy recommendation around ₹60, target ₹66, and stop loss ₹57; Canara Bank with a buy recommendation around ₹137, target ₹150, and stop loss ₹131; and Wipro with a buy recommendation around ₹197, target ₹218, and stop loss ₹188. These recommendations are based on technical analysis and current market conditions.
