All Eyes on RBI MPC Outcome This Week
As markets enter a truncated trading week, investors are cautious after a sharp sell-off last week, where Nifty fell 2.61%, mirroring global weakness. Adding to the pressure, markets will remain closed on Thursday, April 10th, for Shri Mahavir Jayanti.
Riddhi Siddhi Share Brokers Weekly Preview: Tariff Tensions + RBI Uncertainty
Global headlines continue to dominate as US President Trump’s tariff bombshell has triggered widespread market volatility. The Nasdaq and Russell 2000 have both entered bear-market territory, each down more than 20% from recent peaks. Even GIFT Nifty ended Friday 2.75% lower, hinting at a likely gap-down opening on Monday.
Adding to the complexity, US non-farm payroll data released last Friday came in stronger than expected. This casts doubts over any imminent Fed rate cuts, as inflation and growth risks rise.
The Federal Reserve’s next policy meet is on May 6–7, but all eyes this week will be on the RBI’s MPC announcement scheduled for Wednesday, April 9 at 10:00 AM IST.
RBI Policy Preview – Rate Cut Hopes Fading?
The 6-member monetary policy committee (MPC) meets from April 7 to 9 amid heightened uncertainty. While expectations of a 25-basis point repo rate cut linger, the tariff-driven inflation fears may force the RBI to adopt a more cautious stance. If the RBI maintains status quo or issues a hawkish outlook, markets may continue to slide.
Technical Outlook – Riddhi Siddhi Share Brokers View
Nifty remains in a bearish trading zone, with strong resistance at 24000 and immediate support seen at 22000.
The index continues to stay below all major moving averages, including the 200-DMA.
Nifty & Bank Nifty Price Forecast
Nifty (CMP: 22,904)
- Support: 22,501 / 22,000
- Resistance: 23,501 / 24,001
- Range: 22,522 – 23,221
- 200 DMA: 24,077
- PCR: 0.97
- Bias: Negative
- Strategy: Sell at CMP. Targets: 22,501 / 22,000. Aggressive Target: 21,699. Stop: 23,511.
Bank Nifty (CMP: 51,503)
- Support: 50,200 / 48,900
- Resistance: 52,335 / 54,000
- Range: 50,323 – 52,275
- 200 DMA: 51,036
- PCR: 0.99
- Bias: Negative
Options Data – Riddhi Siddhi Share Brokers Insights
- Max Call OI: 23,500 followed by 24,000
- Max Put OI: 23,500 followed by 22,500
- Call Writing: 23,100 and 22,900
- Put Writing: 22,000 and 21,800
- Expected Nifty Range: 21,500 – 23,500
Sectoral Trends
- Bullish Sectors: None identified this week
- Bearish Sectors: Pharma, FMCG, Metals, IT
Stocks in Focus – Riddhi Siddhi Share Brokers Weekly Watchlist
Bullish View:
INDIGO, BAJFINANCE, APOLLOHOSP
Bearish View:
RELIANCE, HINDCOPPER, TATAMOTORS, HINDALCO, BSOFT, DIXON, BHARATFORGE, TCS, INFY, LUPIN, DLF, HCLTECH
Riddhi Siddhi Share Brokers Conclusion
Volatility is expected to remain high this week as markets brace for the RBI policy outcome and digest ongoing tariff tensions globally. Traders are advised to adopt a cautious stance, focusing on quality setups and risk-managed trades.
Disclaimer – Riddhi Siddhi Share Brokers
The investments & trading ideas shared are for informational and educational purposes only and do not constitute investment advice. Stock market investments are subject to market risks. Please consult a certified financial advisor before acting on any market view.
Riddhi Siddhi Share Brokers, a SEBI-registered intermediary, does not guarantee returns or investment performance. Always assess your risk tolerance before trading or investing.