Nifty 50 has come down after opening the day with a gap-up. The index opened at 24,413.35 and touched a high of 24,420.20 in the initial trades. From there it has come down and is trading at 24,289, down 0.27 per cent. The advances/declines ratio is at 9:41. This is negative. If this trend sustains, then Nifty can fall more during the day. We will have to wait and watch.
Nifty 50 Outlook
Nifty seems to be struggling to get a strong follow-through rise above 24,400. Resistance is in the 24,400-24,425 region.
Intraday supports are at 24,245 and 24,185. The first support level is holding for now. But failure to get a strong bounce from here can keep the Nifty vulnerable to see 24,185 during the day.
The bias is positive. So, we can expect the Nifty to bounce back again from around 24,185. That rise may have the potential to breach 24,425 and go up to 24,500-24,600 in the coming sessions.
Nifty 50 Futures
The Nifty 50 April Futures (24,337) is down 0.12 per cent. Supports are at 24,260 and 24,200. Any dip during the day is likely to be limited to 24,200.
Resistance is in the 24,400-24,450 region. A decisive break above 24,450 can take the Nifty 50 April Futures contract up to 24,650 in the coming sessions.
The contract has to break below 24,200 to come under more selling pressure. Such a break can drag the contract down to 24,100 and even 24,000.
Trade Strategy
The trailing stop-loss at 24,340 would have been triggered in the long positions recommended on Friday at 24,296.
Traders can wait for dips now. Go long at 24,280 and 24,220. Keep the stop-loss at 24,120 initially. Trail the stop-loss up to 24,320 as soon as the contract goes up to 24,380. Revise the stop-loss higher to 24,440 and 25,530 when the contract touches 24,510 and 24,590 respectively. Exit the long positions at 24,620.
Please note that this is a positional trade which can be take with a time frame of one week. Traders who don’t wish to carry the risk can stay out of the market.
Supports: 24,260, 24,200
Resistances: 24,450, 24,650
Published on April 20, 2026