Nifty 50 began today’s session slightly lower at 24,050 compared to yesterday’s close of 24,093. But the index recovered after opening and is now trading at 24,170, up 0.3 per cent.
The advance/decline ratio stands at 32/18, showing a bullish bias. Coal India (up 4.1 per cent) and Adani Enterprises (up 3.1 per cent) are the top gainers. Whereas Eternal (down 2.9 per cent) and UltraTech Cement (down 1.1 per cent) are the top losers.
Among sectoral indices, Nifty PSU Bank (down 1.1 per cent) and Nifty Realty (down 0.2 per cent) are the only losers. All others are in the green, led by Nifty Metal (up 1.3 per cent) and Nifty Realty (up 0.2 per cent).
Overall, the recovery after the gap-down open and the market breadth suggests a positive inclination today.
Nifty 50 futures
The May expiry Nifty futures opened today’s session lower at 24,119 versus yesterday’s close of 24,210. It is now trading at 24,235, up 0.1 per cent.
Although there are bullish indications, the chart shows that the contract is facing a resistance at 24,300. This hurdle has to be breached for Nifty futures (May) to establish a sustainable intraday rally.
A breakout of 24,300 can lift the contract to 24,600. However, if Nifty futures (May) falls from the current level of 24,235, it can slip to 24,080, a potential support. A breakdown below this can turn the outlook bearish, potentially dragging the contract to 23,850.
But as it stands, the bulls are having a slight edge over the bears and so, we might see Nifty futures (May) surpassing 24,300.
Trading strategy
Buy Nifty futures (April) if it breaks out of 24,300. Target and stop-loss can be 24,600 and 24,150 respectively.
Supports: 24,080 and 23,850
Resistance: 24,300 and 24,600
Published on April 28, 2026