Nifty 50 has risen in the early trades after having fallen on Thursday. The index is trading at 23,978, up 0.85 per cent. The advances/declines ratio is at 41:9. This is positive.

Nifty 50 Outlook

Cluster of supports are there in the 23,730-23,640 region. This support zone has limited the downside very well on Thursday. Immediate resistance is around 24,020. A strong break above it can boost the momentum. Such a break can take the Nifty 50 higher to 24,300 initially and then to 24,500-24,600 eventually in the coming days.

Nifty will come under pressure only if it declines below 23,640. If that happens, we can see a fall to 23,300. But such a fall looks less likely as fresh buyers are likely to come into the market at lower levels.

Nifty 50 Futures

The Nifty 50 April Futures (24,030) is up 0.7 per cent. The contract has an immediate support at 23,900. Below that 23,800 and 23,700 are next key supports. Some resistance is around 24,080. We see high chances for the contract to break this resistance in the coming sessions.

Such a break can take the Nifty 50 April Futures contract higher to 24,450 and even 24,600 in the coming days.

The contract has to break below 23,700 to turn the near-term picture negative. Such a break, though less likely can take the contract down to 23,500.

Trade Strategy

Positional trades can be considered at the moment. Traders can go long now at 24,030 and accumulate on dips at 23,940. Keep the stop-loss at 23,740. Trail the stop-loss up to 24,090 as soon as the contract goes up to 24,160. Revise the stop-loss higher to 24,220 and 24,380 when the contract touches 24,290 and 24,440 respectively. Exit the long positions at 24,530.

As mentioned above, this is a positional trade. Those who don’t want to carry the trade for the weekend can stay out.

Supports: 23,900, 23,800

Resistances: 24,080, 24,450

Published on April 10, 2026