Nifty outlook today: April 29, 2026
Nifty faced renewed selling pressure at higher levels on Tuesday, shedding 97 points to close at 23,995. The index opened 43 points lower but staged an immediate rebound, holding firm through the first two hours of trade. Post 11 AM, it reversed sharply, plunging 224 points intraday to settle near the day's low.
Key resistance emerged near the 50-DEMA at 24,197, which now acts as an immediate hurdle, while support holds firm around 23,800.
HDFC Securities stock recommendations today
Buy Oil India stock at ₹497.60 | Stop loss: ₹480 | Share price target: ₹530
Oil India share price has broken out from a "symmetrical triangle" pattern on the daily chart. The stock price has recently gone up with rise in volumes and is placed above all the important moving averages. Indicators and oscillators have turned bullish on the weekly and monthly charts.
Buy Reliance Industries stock at ₹1,393 | Stop loss: ₹1,350 | Share price target: ₹1,460
RIL share price has formed bullish "Hammer" candlestick pattern on the monthly chart. Besides, RIL stock price has recently reclaimed its level above 20 and 50-DEMA. The stock price rise is accompanied with jump in volumes. Indicators and oscillators have turned bullish on the weekly and daily charts.
==================
Disclaimer: Vinay Rajani is senior technical and derivative analyst at HDFC Securities. Views expressed are his own.