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  5. Trade setup for April 20: GIFT NIFTY indicates positive opening despite weak geopolitical cues, will it sustain?

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Trade setup for April 20: GIFT NIFTY indicates positive opening despite weak geopolitical cues, will it sustain?

WhatsApp Image 2025-01-20 at 11.25.23.jpeg
By Rohan Takalkar

3 min read | Updated on April 20, 2026, 08:15 IST

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SUMMARY

The GIFT NIFTY futures suggest a positive opening for Indian markets on Monday despite the weak geopolitical cues. The Asian markets jumped over 1% acrosss Japan and Korea, and the US stock market futures fell nearly 1% amid renewed tensions.

Stocks in focus, April 16

The GIFT NIFTY futures suggest that the NIFTY50 index will open 80 points higher. | Image: Shutterstock

Indian markets are set to open in green amid positive global market cues, despite the renewed tensions between the US and Iran. Iran has reportedly refused to participate in the second round of negotiation talks, scheduled to happen on Monday. The Asian markets opened in green, shrugging off worries from the Middle East. The benchmark indices like Japan’s Nikkei and Korea's Kospi jumped 1% on Monday morning.

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Key triggers to watch

FII buying: Foreign Institutional investors have tilted their preference towards slow and gradual buying of Indian equities. After selling nearly ₹1.17 lakh crore in March, the FIIs have sold ₹43,000 crore worth of Indian equities in April till date, reducing the intensity of the selling.
Crude oil: The crude oil prices clawed back all the majority of the losses from the previous week on Monday morning, after the Brent crude oil prices surged nearly 5% to trade above $95 per barrel. Higher crude oil prices are likely to have a sentimental impact on oil-sensitive stocks.
Q4 results: Shares of index heavyweights like HDFC Bank and ICICI Bank will remain in focus after the private sector banks released their Q4FY26 results on Saturday. HDFC Bank reported a 9% YoY jump in net profit and declared a dividend of ₹13 per share. Meanwhile, ICICI Bank’s net profit jumped 8%, and the bank announced a dividend of ₹12 per share.

NIFTY50

Nifty50_2026-04-19_22-09-01.png

On the short-term charts, the index defended the hourly 20 EMA for eight consecutive sessions, indicating the robust relative strength of the index. On the daily charts, the index defended the 50 EMA at 24,196, which now becomes the crucial support in the near term. On the upside, the 200 EMA level of 24,830 remains the crucial resistance for the index.

NIFTY50- OI analysis

April20.png The latest open interest data for tomorrow’s expiry suggest heavy open interest concentration on the downside from 23,900 to 24,300. On the other hand, 24,800 calls hold the highest open interest, indicating a strong resistance for tomorrow’s expiry.

Disclaimer: Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop-losses. The information is only for consumption by the client, and such material should not be redistributed. We do not recommend any particular stock, securities, or trading strategies. The securities quoted are exemplary and not recommendatory. The stock names mentioned in this article are purely to show how to do analysis. Make your own decision before investing. About The Author

About The Author

WhatsApp Image 2025-01-20 at 11.25.23.jpeg
Rohan Takalkar is a senior writer at Upstox and a seasoned capital markets analyst with over 10 years of experience. He is passionate about writing on equities, global markets, and the economy.

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