Trade setup for April 27: Can NIFTY50 hold the opening gains on Monday? Check details

Indian benchmark indices are expected to open higher on Monday morning, after a rough closing on Friday. The global benchmark indices soared to record levels despite the uncertainties in the Middle East. The US markets closed in green across the board, except for Dow Jones, which closed flat. Meanwhile, the NASDAQ rallied nearly 400 points, the most amongst all.

Meanwhile, Asian markets continued to rally on Monday morning. The Japanese Nikkei traded over 800 points higher, along with the Korean KOSPI, which jumped up to 2%.

Owing to the positive cues from the US and Asian markets, Indian markets are expected to open in the green with a gap-up opening of 180 points, as indicated by GIFT NIFTY futures on Monday morning.

Apart from global cues, Indian markets are expected to react to Reliance Industries' Q4 FY26 results. The company’s net profit for the quarter ended March 31, 2026, fell 13% YoY to ₹16,971 crore.

NIFTY50 chart and sentiment analysis

The NIFTY50 index faced selling pressure on Friday ahead of the monthly expiry on April 28. The index continued to witness additions in short positions by the FIIs, indicating a broader bearish sentiment.

On the hourly charts, the index saw a bearish crossover of the 20 EMA crossing the 50 EMA from above, suggesting a strong trend with bearish momentum. The selling pressure intensified in index-heavyweight stocks, pulling the benchmark indices lower.

NIFTY50 OI check

The open interest data for tomorrow’s monthly expiry indicates strong resistance on the higher side up to 24,400. The 24,200 call strike holds the highest open interest, indicating strong resistance. However, if the gap-up opening sustains above 24,000, we may see some short-covering near the 24,200 levels. The downside remains protected at 23,500 with the highest open interest on the put side.