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Nifty Prediction for Thursday, April 9 by experts: Equity benchmark indices Sensex and Nifty witnessed a ‘Super Wednesday’ (April 8), ending nearly 4 per cent higher following an impressive rally in global markets, a drop in crude oil prices after the US and Iran announced a two-week ceasefire and other supportive factors.
As the nearly 4 per cent surge today, all eyes are now on Thursday’s session to see if the ‘Bullish Breakaway Gap’ holds the keys to a new record high.
Rising for the fifth day in a row, the 50-share NSE Nifty soared 873.70 points or 3.78 per cent to end at 23,997.35. It rallied 901.5 points or 3.89 per cent to 24,025.15 during intra-day trade.
After opening with a sharp upside gap of 705 points, he noted that the market remained within a narrow range for the entire session. The opening upside gap remains unfilled, and Nifty finally closed at the highs.
Hitesh Tailor, Research Analyst – Research at Choice Equity Broking Private Limited, said, “Indian equity benchmarks witnessed a strong bullish session on 8 April 2026, supported by easing global concerns and stable domestic cues. The Nifty 50 opened with a sharp gap-up of 731.50 points at 23,855.15, driven by positive sentiment following the announcement of a temporary ceasefire in geopolitical tensions. The index remained resilient throughout the session, registering its intraday low at 23,828.50 in early trade.”
Sustained buying interest across sectors propelled the index higher to an intraday high of 24,025.15. The Nifty eventually settled near its day’s high at 23,997.35, posting a strong gain of 873.70 points or 3.78% for the session, Tailor added.
Nifty gainers and losers on Wednesday
Nifty Prediction for Thursday, April 9 by experts
Technical analysts have suggested the momentum is firmly with the bulls. However, they noted that the ‘unfilled gap’ from Wednesday will be the critical pivot point for Thursday’s trading session.
Nifty Prediction for Thursday, April 9 Nagaraj Shetti
Shetti of HDFC Securities said the formation of the huge unfilled opening upside gap of Wednesday indicates a formation of Bullish Breakaway Gap, which reflects a formation of an important bottom reversal for the market at the recent swing low of 22182 levels, 2nd April.
Technical levels to watch on Thursday
“The overall chart pattern is positive, and if this gap remains unfilled for the next 3-4 sessions, then that could suggest broad based rally for the markets ahead. The next upside levels to be watched around 24500. Immediate support is placed at 23800 levels,” Shetti added.
Nifty Prediction for Thursday, April 9 by Hitesh Tailor
On the daily timeframe, analyst Tailor said the Nifty50 index has formed a bullish Marubozu-like candlestick pattern, characterised by the opening near the day’s low and closing near the high.
“This structure indicates strong buying conviction throughout the session, with minimal selling pressure. The formation reflects a decisive shift in momentum in favour of the bulls, suggesting the potential for further upside, provided follow-through buying continues in the upcoming sessions,” he stated.
Key support and resistance levels to watch on Thursday
From a technical perspective, Tailor noted that the immediate support is placed within 23,700-23,850. “On the higher side, resistance is observed in the 24,080–24,200 zone. The Relative Strength Index (RSI) stands at 53.89, indicating a decisive move above the midpoint level of 50, which strengthens the bullish outlook and confirms improving momentum,” he added.
He further stated the volatility index, India VIX, declined sharply by 20.24% to close at 19.69, reflecting a significant drop in market uncertainty and supporting the ongoing rally. “In the derivatives segment, notable call writing was observed at the 24,000 and 24,200 strikes, indicating immediate resistance zones. On the put side, strong writing activity at the 24,000 and 23,800 strikes highlights a firm base for the index in the near term,” he said.
Bank Nifty Prediction for Thursday, April 9
Hitesh Tailor, Research Analyst – Research at Choice Equity Broking, stated the Bank Nifty index outperformed the broader market, opening with a substantial gap-up of 2,188.20 points at 54,904.45.
“After marking an intraday low of 54,797.50, the index witnessed relentless buying interest, driving it sharply higher to an intraday high of 55,778.25. The index closed near its peak at 55,703.90, registering a robust gain of 2,987.65 points or 5.67% for the day,” he said.
On the daily timeframe, the index formed a strong bullish candle, reflecting aggressive buying across banking stocks. This price action indicates strengthening sentiment and suggests the possibility of continued upward momentum, subject to sustained buying interest, Tailor noted.
From a technical standpoint, immediate support is placed in the 55,350–55,400 range, while resistance is seen at 56,000–56,200. The RSI stands at 53.41, indicating a breakout above the midpoint level and reinforcing the positive momentum in the index, he said.
“Overall, the market witnessed a decisive bullish breakout supported by strong global cues, easing volatility, and broad-based sectoral participation. While momentum remains firmly positive, traders should monitor key resistance levels closely and watch for sustained follow-through buying to confirm continuation of the uptrend,” Tailor concluded.
Sectoral-wise performance on Wednesday
Sector-wise, the rally was broad-based with almost all indices closing in the green. Nifty Auto surged more than 6 per cent, while Nifty Realty rallied 6.75 per cent.
Nifty PSU Bank gained 5.46 per cent, Nifty Consumer Durables rose 5.23 per cent, and Nifty Media advanced 2.96 per cent. Nifty IT also recorded marginal gains of 0.52 per cent.
On Tuesday, the Sensex jumped 509.73 points or 0.69 per cent to settle at 74,616.58. The Nifty climbed 155.40 points or 0.68 per cent to end at 23,123.65.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
