In our previous weekly outlook, we highlighted 28th April and 29th April as sessions likely to witness strong intraday momentum. The market performed largely as expected, with both sessions delivering notable movement opportunities for active traders. 29th April in particular saw strong price action and momentum expansion, validating our time-cycle projections. This once again reinforces the importance of combining timing analysis with price confirmation.
Market Highlights
Indian equity benchmark Nifty ended the week in negative territory as investor sentiment stayed cautious amid rising global uncertainties. The continued double blockade in the Strait of Hormuz and lack of meaningful progress in Iran-US negotiations kept markets under pressure. Nifty declined 0.73% for the week, while falling 0.74% on the final trading session to close at 23,997. Persistent selling by Foreign Portfolio Investors further dampened sentiment , Meanwhile a sharp depreciation of the Indian Rupee against US Dollar and higher crude oil prices weighed on market sentiment
Global & Macro Developments
India’s external indicators reflected mixed pressure during the week.
Foreign exchange reserves declined by $4.82 billion, falling to $698.49 billion for the week ended April 24, according to RBI data.
Foreign Portfolio Investors (FPIs) continued aggressive selling, pulling out nearly $6.5 billion during April, largely due to:
- Escalating geopolitical tensions
- Global macro uncertainty
- Reduced risk appetite in emerging markets
The Indian rupee weakened sharply, touching a fresh record low of 95.20 against the US dollar on April 30.
This decline was driven by:
- Stronger US dollar demand
- Rising crude oil prices
- Continued global risk aversion
Meanwhile, crude oil prices cooled slightly after touching $126 per barrel, their highest level since 2022, but still remained above $110 per barrel as supply concerns persisted.
Time Analysis Performance: Week in Review
Even in a volatile environment, our time-cycle projections aligned effectively with several key intraday turning points, reinforcing the importance of combining time + price analysis.
Monday – 27th April
Time Windows:
09:20 AM | 01:30 PM
- Day low formed near 9:20 AM, aligning with projected time
- Day high also formed near our mentioned time of 1:30 PM & after which Nifty failed to move higher. we also mentioned the level of 24,140 and day high made almost near our mentioned level
- We also mention the level of 23,935 and Day low of 23,936 formed exactly near our level
Tuesday – 28th April
Time Windows:
09:30 AM | 10:15 AM | 01:25 PM | 02:35 PM
- Day high formed exactly near 10:15 AM. We also mention about our support of 24,140 and day high formed near our level Nifty again faced resistance near our mentioned level of 24,140, followed by sharp downward momentum.
- Swing low made at 9:30 AM aligning with our mentioned time of 9:30 AM
- Day low formed near our mentioned time of 1:25 PM and our mentioned level of 23,935
Wednesday – 29th April
Time Windows:
10:15 AM | 11:20 AM | 02:30 PM
- Strong upward momentum stalled after 10:15 AM
- After 11:15 AM, the market resumed strength near our projected time of 11:20 AM.
- We also mentioned about our level of 24,140 Which nifty breaks on Wednesday and strong upward momentum was getting seen after the breakout
Thursday – 30th April
Time Windows:
09:25 AM | 12:20 PM | 01:10 PM | 02:30 PM
- Day high formed at 2:30 PM, aligning with projected time
- Swing high made near our mentioned time of 9:25 AM
- Nifty tested our mentioned level of 23,815, found support, and witnessed a sharp bounce thereafter
- Price also moved above 23,870, followed by improved momentum.
Across the week, time clusters remained highly effective, especially when combined with price structure and weekly levels.
Important Time Windows for the Week Ahead
(4th May – 8th May)
Based on ongoing time-cycle analysis, the following intraday windows may remain significant. These should be used alongside price action — not in isolation.
Monday – 4th May
09:22 AM | 10:15 AM | 12:30 PM | 01:20 PM | 02:45 PM
Tuesday – 5th May
11:15 AM | 12:35 PM | 02:30 PM
Wednesday – 6th May
9:50 AM | 10:10 AM | 11:15 AM | 11:30 AM | 12:35 PM | 01:10 PM | 01:40 PM
Thursday – 7th May
10:00 AM | 02:30 PM
Friday – 8th May
11:15 AM | 12:21 PM | 01:45 PM | 02:05 PM
These time clusters may indicate:
- Volatility expansion
- Swing highs / lows
- Momentum shifts
Important Levels for the Week Ahead
For intraday and short-term decision-making, the following price zones should be closely monitored:
Upside / Resistance Zone
24,140 | 24,380 | 24,450 | 24,480 | 24,535 | 24,646 | 24,685 | 25,002
Downside / Support Zone
23,936 | 23,870 | 23,820 | 23,466 | 23,335 | 22,858
Market behavior near these levels — especially when aligned with projected time windows — will be crucial in identifying direction.
Lakshman Rekha for Nifty
23,002 | 23,355 | 23,812 | 23,874 | 24,307 | 24,446 | 24,730 | 25,229
These levels are important price checkpoints where market behaviour may become highly sensitive. Traders should closely monitor price action near these zones for potential shifts in momentum and volatility.
Outlook for Next Week
In our previous Article we mention that
Thursday (30th April) will be a key session, with its high and low acting as important reference levels for the upcoming trend:
- Break above Thursday’s high may trigger a bullish move
- Break below Thursday’s low may lead to a bearish trend
Since Friday was a market holiday, the 30th April high and low remain valid for the coming week. A breakout on either side may influence the near-term market structure.
Market will likely to remain highly news driven
in the coming sessions key triggers include developments in the US-Iran situation, particularly around the strait of hormuz, movement in crude oil prices, foreign fund outflows, rupee trends & progress in the Quarter 4 earning session
However election outcomes is an additional domestic trigger that could influence sentiment in the near term
Expect elevated volatility with sharp reactions to headlines.
Traders are advised to:
- Focus on price confirmation near key zones
- Respect risk management
- Trade selectively in news-driven conditions
- Use time clusters with discipline
Disclaimer
Research by Team WealthView Analytics Pvt. Ltd.
SEBI Registration No.: INH000009676
Registration granted by SEBI and certification from NISM do not guarantee performance or assure returns. This report is for educational purposes only. Market investments are subject to risk.
