Nifty Prediction Tomorrow, April 04, 2025: Indian Stock Market Resilient Amid Tariffs – What’s Next?

Nifty Prediction Tomorrow, April 04, 2025: The Indian stock market finished lower Thursday, reflecting the impact of reciprocal tariffs imposed by the US administration on its trading partners, including India.

The Nifty 50 closed at 23,250.10, down 82.25 points or 0.35%, while the Sensex slid 322.08 points or 0.42% to 76,295.36.

Indian Stock Market Resilient Today

Despite the downward trend in key indices, broader markets showcased resilience, with midcap and smallcap indices closing in positive territory.

The National Stock Exchange (NSE) witnessed mixed sectoral trends. Pharma and banking stocks, particularly public sector banks, outperformed, while the IT and auto sectors lagged behind.

Top Gainers And Losers

Power Grid Corp, Sun Pharma, UltraTech Cement, Cipla, and Shriram Finance stood out as the major gainers. Meanwhile, prominent names in the IT sector such as TCS , HCL Technologies, Tech Mahindra, Infosys, and ONGC emerged as the key losers.

Pharma stocks saw significant growth, with the Nifty Pharma index surging 5% due to exemptions for pharmaceutical products from US tariffs. In contrast, the IT sector experienced a 3% decline, underlining the tariff-related concerns.

What Lies Ahead Tomorrow?

According to Osho Krishan, Senior Analyst at Angle One, "The benchmark index opened lower around the previous two sessions' lows, but notably, there was no follow-through selling. Instead, Nifty staged a strong recovery within the first hour, erasing most of its early losses, and traded in a narrow range for the remainder of the session. Eventually, the index closed with a cut of 0.35%, a tad above the 23,250 mark."

On the technical front, Nifty has formed matching lows around the 23,100 zone over the past three sessions, coinciding with key support levels such as the 20 and 50-day exponential moving averages (DEMAs) and the 38.2% Fibonacci retracement of the rally from March lows of 22,000.

Also Read: Expected 10%, Received 26% Tariffs: 'Shock' Says Ajay Bagga; Lists 3 Sectors That May Be Hit

Analysts, including Jatin Gedia from Mirae Asset Sharekhan, highlighted the importance of the 23,100 support level, stating that "Nifty has been holding on to the 40-day average and 50% Fibonacci support level despite all the negative sentiment. A decisive breach below the 23,100 mark would put bears in an advantageous position. As of now, the outlook for Nifty is rangebound between 23,000 and 23,650."

Looking ahead, the broader market strength and stock-specific opportunities offer hope for traders. Analysts emphasize that dips could provide buying opportunities as long as the 23,100 level holds.

Immediate resistance is observed at 23,350, followed by 23,600, with a breakout above these levels potentially signalling an uptrend toward the 24,000–24,100 range.

The cautious sentiment observed early in the session was largely due to the global impact of US tariff developments.

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