Nifty Support, Resistance for April 7, 2025: Key Levels to Watch Today

 Indian stock markets witnessed a severe jolt on Monday, April 7, as panic selling at the opening bell led to a bloodbath across Dalal Street with sensex tanking over 4000 pts, and nifty over 5%.

At the opening, BSE Sensex plunged 3,379.19 points or 4.48% to settle at 71,985.50, while the NSE Nifty nosedived 1,146.05 points or 5% to close at 21,758.40.

At the time of writing the story, the sensex is 72,455.38, down by 2909.31 or 3.86 % and nifty at 21,966.75 down by 937.70 or 4.09%.

This brutal selloff wiped off Rs 19.4 lakh crore from the combined market capitalization of BSE-listed companies, bringing it down to Rs 383.95 lakh crore.

Sectoral Carnage: Metal and Tech Stocks Take the Brunt
The crash was broad-based, with every major sector deep in the red. The Nifty Metal index tumbled 8%, while the Nifty IT index slumped over 7%. Other indices such as Auto, Realty, and Oil & Gas recorded losses of more than 5% each.

The carnage was even more pronounced in the broader market. The Nifty Smallcap index crashed 10%, while the Midcap index dropped 7.3%, underscoring the panic among retail and institutional investors alike.

Global Panic Spills Over: US Markets Set the Tone
The meltdown in Indian markets came on the heels of a fresh wave of selling in US markets. On Sunday evening, Dow Jones Industrial Average futures fell 979 points or 2.5%, S&P 500 futures dropped 2.9%, and Nasdaq-100 futures crashed by 3.9%.

Commenting on the downturn, former US President Donald Trump said Sunday night, “I don’t want anything to go down, but sometimes you have to take medicine to fix something.” He added, “We have a trillion-dollar trade deficit with China... unless we solve that problem, I’m not going to make a deal.”

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Expert View: Key Support Holding, But Volatility Surges

Speaking to Republic Business , Sudeep Shah, Deputy Vice President & Head of Technical & Derivatives Research at SBI Securities, said: “Amid a global sell-off, the benchmark index Nifty opened with a sharp gap-down of over 1100 points, or nearly 5%. However, it found support in the 21750–21700 zone and staged a minor recovery. Historically, this zone has acted as a strong support on multiple occasions. On a relative basis, the Indian market has declined less compared to other global indices.”

 

Volatility surged as investor fear spiked. The India VIX jumped over 50% to hover around the 21 mark—its highest level since August 2024. Shah added, “Typically, at-the-money Implied Volatility (IV) ranges between 12–16, but it is now quoting near 42, indicating heightened fear and risk pricing in the options market.”

What Lies Ahead: Support and Resistance Levels to Watch
Looking forward, Shah noted that the 21,700–21,750 zone will act as a key support level for the Nifty. A break below this could trigger a further slide to 21,500, and potentially 21,250. On the upside, the 22,300–22,350 zone will now act as a major hurdle for any recovery.