Nifty 50 began today’s session lower at 24,101 compared to yesterday’s close of 24,173. The index slipped further after opening and is now trading at 23,950, down 0.9 per cent so far today.

The advance/decline ratio stands at 10/40, showing a bearish bias. Coal India (up 1.5 per cent) and Nestle India (up 1.1 per cent) are the top performers whereas Infosys (down 3.7 per cent) and Tech Mahindra (down 2.6 per cent) are the top losers.

All the sectoral indices are in the red, led by Nifty IT (down 3 per cent). This is followed by Nifty Media (down 1.5 per cent) and Nifty Pharma (down 1.1 per cent). 

Nifty 50 futures

The April expiry Nifty futures opened today’s session higher despite the underlying beginning with a gap-down. That is, the contract opened at 24,192 versus yesterday’s close of 24,163.

However, Nifty futures soon began to decline and is now trading at 24,000, down 0.6 per cent.

The price action so far today shows that the bears are gaining momentum. Nevertheless, Nifty futures has a support ahead at 24,000. A breach of this can increase the downward momentum where the contract can drop to 23,800 and 23,650.

On the other hand, if there is a recovery, it ought to lift Nifty futures above 24,250. In such a case, the intraday outlook can turn positive, possibly taking the contract to 24,500.

As it stands, the bears are looking to gain control and the support at 24,000 is the final hurdle for them. 

Trading strategy

Sell Nifty futures (April) if it falls below the support at 24,000. Target and stop-loss can be 23,800 and 24,120 respectively.

Supports: 24,000 and 23,800

Resistance: 24,250 and 24,500

Published on April 24, 2026