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Indian equity markets are expected to open on a cautious to flat note on Monday, April 6, 2026, as weak global cues weigh on sentiment. The GIFT Nifty was trading marginally in the red ahead of market hours, signalling a subdued start for domestic indices.

Nifty 50 closed at 22,713.10 on April 2, gaining 33.70 points (0.15%), extending gains for a second straight session. However, the overall bias remains weak. The index continues to trade below its 50-day moving average (DMA), which is itself positioned below the 200 DMA, reflecting a bearish intermediate trend.

European markets closed sharply lower last week, and strong US non-farm payroll data for March (178k jobs added) has revived fears of the US Federal Reserve maintaining a "higher for longer" interest rate stance. This could prompt further FII outflows from emerging markets including India.

On the geopolitical front, the US-Iran conflict remains unresolved. While both sides have signalled willingness to de-escalate, fresh incidents keep sentiment fragile. Crude oil prices remain volatile, which adds pressure for India as a major oil importer.

Key levels to watch: Support at 22,317 and 22,071. Resistance at 23,110 and 23,355. For the week of April 6-10, the broader trading range is seen between 22,000 and 23,200.