Nifty Prediction Next Week: Will the Market Breach 24,000?

Nifty Prediction Next Week: After a turbulent start to April, the Indian stock market has staged a dramatic recovery, with the NSE Nifty closing at 23,850 on April 17—just shy of the psychological 24,000 milestone. This comeback, following a strong rally of 1,023 points or 4.48% the previous week, has sparked optimism among investors and analysts alike.

So, can Nifty break past 24,000 next week? Experts believe it's likely, though not without volatility.

A Rally Born in Doubt

“It’s a classic example of how markets often recover with force just when conviction is hardest to find,” said Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research at SBI Securities. “The strongest rallies are born from the depths of doubt.”

Several factors have come together to push Indian equities higher. One of the biggest was the surprise global impact of President Trump’s new tariff policy. “A key catalyst for this resilience was the Trump administration’s decision to implement a 90-day pause on reciprocal tariffs for most countries, including India,” noted Sugandha Sachdeva, Founder of SS WealthStreet. “It sparked renewed optimism and helped Indian markets surge to a monthly high of 23,872.”

Domestic Strength Driving Momentum

Apart from global cues, India’s macroeconomic tailwinds have played a significant role. “The market has been rallying for three main reasons,” explained Anand K. Rathi, Co-Founder of MIRA Money. “An above-normal monsoon forecast, inflation hitting a six-year low, and falling crude oil prices have all provided a powerful domestic cushion to global shocks.”

Technically, the Nifty’s sharp jump from 21,743.65 to 23,850 in just seven sessions shows strong momentum. “The index is now trading well above its 20-day and 50-day exponential moving averages, which have begun to curve upward,” Shah said. “The RSI has also crossed 60 and is rising steadily, signalling strong buying interest.”

Watching the 24,000 Mark Closely

All eyes are now on the 24,000 level—a key psychological and technical resistance. According to Nilesh Jain, Head of Research (Derivatives and Technical) at Centrum Broking, “So now the next level on the upside to watch out for would be 24,000, which is acting as a psychological barrier as well as 200, a simple moving average. You're also placed at 24,000. So we need a decisive breakout about 24,000, for further to continue on the back of a short covering, and, fresh leg will take Nifty towards 24,300 to twenty-four five hundred, provided it breaks about 24,000 levels decisively.”

In the derivatives space, strong put writing between 23,500 and 23,700 levels suggests a solid base, with call writers still active at 24,000. “So we can say, the broader range as of now looks like 23,500 to 24,000. And post breakout, the range will shift higher towards 24,000 to twenty-four five hundred,” Jain added.

Also Read: Q4 Results Next Week: 8 BSE Sensex and 10 Nifty 50 Companies To Announce Earnings from April 22 to 25 - List

Foreign Investors Flip the Script

Adding fuel to the rally has been the renewed interest from foreign investors. Since April 15, FPIs have poured in Rs 14,670 crore over just three trading sessions. “Adding to the optimism is the strong inflow from foreign portfolio investors. Since April 15, 2025, FPIs have gone on a buying spree, buying equities worth Rs.14,670 crore across just three trading sessions,” said Sachdeva.

This shift in sentiment is supported by a weakening dollar and expectations of subdued growth in the US and China. “This relative outperformance of India in growth can lead to outperformance in the market, too,” said VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

Bank Nifty Leading the Charge

One of the strongest segments in the market has been banking. “Bank Nifty is just a stone’s throw away from its all-time high,” Shah noted, “while the Nifty is still 9% below its peak—a clear sign of sectoral strength.”

“Structure-wise, Bank Nifty is likely to outperform the Nifty index as far as the April series is concerned,” said Jain. “And, we expect a follow-up move in the Bank Nifty, which will take the Bank Nifty spot levels towards 55,000 plus.”

What to Expect Next Week

Experts remain cautiously optimistic for the coming week. “Technically, any sustained move above 23,940 will push the index to 24,200, even 24,500 in the short term,” said Shah. “But immediate resistance remains around 23,880, and profit-booking can’t be ruled out.”

Sachdeva added, “The path ahead may not be entirely smooth. After a rapid ascent of nearly 2,100 points over just seven trading sessions, the index faces significant resistance around the 23,880 mark. Furthermore, the market remains sensitive to global cues. Any negative developments, such as an escalation in the tariff war or a sharp rebound in the dollar index, could trigger profit booking, potentially dragging the Nifty back toward its immediate support level of 23,300.”

Rathi concluded on a hopeful note: “While these factors are driving the current market momentum, a rebound in corporate earnings will be necessary to maintain this rally. Although Q4 might not show significant improvements, indications point to positive developments starting in Q1 FY26 that could support further market growth. We may probably see the market reclaim its position to the 24,000 mark.”

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