Nifty 50 seems to be struggling to get a strong follow-through after having bounced well on Thursday last week. The index has come down after making a high of 22,788.25 in the initial trades. It is currently trading at 22,650, down 0.28 per cent.
The advances/declines ratio is at 19:31. This has to turn strongly in favour of the advances in order to push the Nifty higher during the day.
Immediate support is at 22,570. If Nifty manages to sustain above this support, then it can oscillate in a range of 22,570-22,850. A strong break above 22,850 is needed to ease the downside pressure and go up towards 23,000-23,100.
On the other hand, if the index breaks below 22,570, it can fall 22,450-22,400 and even lower. We will have to wait and see what happens.
The Nifty 50 April Futures (22,727) is down 0.14 per cent. Support is at 22,635 and resistance is at 22,830. A breakout on either side of these two levels will decide the next direction of move.
A break above 22,830 will be bullish to see a rise to 23,100. On the other hand, a break below 22,635 can drag the Nifty 50 April Futures contract down to 22,500 or even 22,300.
Traders can go long only after a break above 22,830. Keep the stop-loss at 22,720. Trail the stop-loss up to 22,860 as soon as the contract goes up to 22,910. Revise the stop-loss higher to 22,925 and 22,970 when the contract touches 22,960 and 23,015 respectively. Exit the long positions at 23,080.
Supports: 22,635, 22,500
Resistances: 22,830, 23,100
Published on April 6, 2026
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