Nifty 50 has opened the week on a negative note with a huge gap-down. The US-Iran peace talk failure has dragged the index lower in the opening trades. Nifty opened at 23,589.60 and touched a low of 23,555.60. However, it has bounced back from this low and is currently trading at 23,671, down 1.56 per cent. The advances/declines ratio is at 3:47. This is negative.

Nifty 50 Outlook

The bounce from the low is a positive. But it is important to see if that is sustaining or not.

Intraday resistance is at 23,700. A break above it will give some relief. Such a break can take the Nifty higher to 23,800 and even 23,950 in the coming sessions.

Failure to rise past 23,700 and a reversal again can continue to keep the index under pressure. In that case, there is a danger of seeing 23,450 and even 23,300 in the coming days.

Nifty 50 Futures

The Nifty 50 April Futures (23,717) is down 1.4 per cent. The contract has resistance in the 23,730-23,750 region. A strong break above 23,750 is needed to ease the downside pressure. Only then, the upside will open up for a rise to 23,950 and higher going forward.

As long as the contract trades below 23,750, the bias will remain negative. That will keep the downside open to see 23,500-23,450.

We will have to wait and see.

Trade Strategy

Traders have to wait now. Go long only after a breakout above 23,750 is seen. Keep the stop-loss at 23,680. Trail the stop-loss up to 23,790 as soon as the contract goes up to 23,840. Revise the stop-loss higher to 23,830 and 23,880 when the contract goes up to 23,870 and 23,910 respectively. Exit the longs at 23,940.

Supports: 23,600, 23,500

Resistances: 23,750, 23,950.

Published on April 13, 2026