Nifty 50 is recovering its loss after having open with a gap-down today. The index made a low of 22,719 and has risen back from there. It is currently trading at 22,922, down 0.20 per cent. The advances/declines ratio is at 20:30. This is negative for now. But if the trend turns in favour of the advances, then Nifty can rise more during the day.
The price action over the last couple of trading days indicate that the index is getting buyers at lower levels. That leaves the bias positive for the index.
Immediate support is at 22,840. Below that, 22,680 is the next key support. Resistances are at 23,020 and 23,060. Nifty has to breach 23,060 to move higher towards 23,300.
On the other hand, the index will come under selling pressure if it breaks below 22,680. Such a break can drag it down to 22,400 and even lower. We will have to wait and watch.
The Nifty 50 April Futures (22,960) is down 0.42 per cent. Cluster of supports are there in the 22,820-22,720 region. Nifty is managing to hold above 22,820 itself for now. Resistance is around 23,070. A strong break above 23,070 is needed to boost the momentum. Such a break can take the Nifty higher to 23,450-23,500 in the coming sessions.
Nifty has to decline below 22,720 to come under pressure. Only then the danger of the fall to 22,500 and lower levels will come back into the picture.
Go long on a break above 23,060. Keep the stop-loss at 22,920. Trail the stop-loss up to 23,110 as soon as the contract goes up to 23,160. Revise the stop-loss higher to 23,220 and 23,340 when the contract touches 23,280 and 23,370 respectively. Exit the long positions at 23,420.
Supports: 22,820, 22,720.
Resistances: 23,060, 23,450
Published on April 7, 2026
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