Nifty 50 began today’s session with a gap-down at 24,202 compared to yesterday’s close of 24,378. But the index recouped some of its losses and at the end of the first hour, it is trading at 24,260, down 0.4 per cent.

The advance/decline ratio stands at 18/32, showing a bearish bias. Dr. Reddy’s Laboratories (up 7.6 per cent) is the top gainer followed by Cipla (up 4.5 per cent). On the other hand, Trent (down 4 per cent) and Tech Mahindra (down 2.6 per cent) are the top losers.

Among sectors, Nifty Pharma (up 3 per cent) and Nifty Healthcare (up 2.4 per cent) are the top gainers. At the other end, Nifty Consumer Durables (down 1.8 per cent) and Nifty Auto (down 1.4 per cent) are the top losers. 

Nifty 50 futures

The April expiry Nifty futures opened today’s session lower at 24,160 versus yesterday’s close of 24,381. It is now trading at 24,270, down 0.5 per cent.

Although the contract is trading lower compared to yesterday’s close and there are signs like bearish market breadth, Nifty futures has a support at 24,100. Notably, the price band of 24,000-24,100 is a support.

There is a god chance for Nifty futures to rebound on the back of this, especially after closing the first hour in the green. An extension of the upswing can take the contract to 24,600.

On the other hand, if Nifty futures breaches the support at 24,000, it can open the door for a decline to 23,800 or to 23,650.

Overall, since the support at 24,000 is valid, the likelihood of a rally from the current level is high. 

Trading strategy

Buy Nifty futures (April) now at 24,220. Target and stop-loss can be 24,600 and 24,080 respectively.

Supports: 24,200 and 24,000

Resistance: 24,600 and 24,800

Published on April 23, 2026