Nifty 50 has bounced well after witnessing a dip in the initial trades. The index opened at 24,165,90 and touched a low of 24,096.05 in the early trades. Thereafter it has risen back well and is currently trading at 24,288, up 0.37 per cent. The advances/declines ratio is at 39:11. This is positive.

Nifty 50 Outlook

Nifty is getting very good support around 24,100. The bias is bullish. Nifty can rise to 24,550-24,600 in the coming sessions.

Nifty will come under pressure for a fall only if breaks below 24,100 decisively. If that happens, 23,900 can be seen on the downside.

But such a fall looks less likely.

Nifty 50 Futures

The Nifty 50 April Futures (24,296) is up 0.4 per cent. The outlook is bullish. Supports are at 24,190 and 24,100. The contract can rise to 24,600-24,700 in the coming days. A break above 24,400 can accelerate this rally.

The contract has to break below 24,100 to come under pressure. Such a break, though less likely can drag the Nifty 50 April Futures contract down to 23,950.

Trade Strategy

Positional trades can be considered at the moment.

Traders can go long now at 24,296. Accumulate on dips at 24,210. Keep the stop-loss at 24,070 initially. Trail the stop-loss up to 24,340 as soon as the contract goes up to 24,410. Revise the stop-loss higher to 24,430 and 24,540 when the contract touches 24,490 and 24,610 respectively. Exit the long positions at 24,640.

Supports: 24,190, 24,100

Resistances: 24,400, 24,700

Published on April 17, 2026