Nifty 50 began today’s session with a gap-up at 23,945 versus last week’s close of 23,898. The index is now trading at 24,020, up 0.5 per cent.

The advance/decline ratio stands at 40/10, showing a strong bullish bias. Sun Pharmaceuticals (up 7.6 per cent) is the top gainer followed by Adani Ports (up 3.4 per cent).

On the other hand, Shriram Finance (down 4.3 per cent) and Axis Bank (down 3.8 per cent) are the top losers so far today.

Among the sectors, barring Nifty Private Bank (down 0.4 per cent) and Nifty Financial Services (down 0.1 per cent), all others are in the green. Nifty Pharma (up 2.7 per cent) and Nifty Healthcare (up 2.4 per cent) are the top gainers.

Nifty 50 futures

The April expiry Nifty futures opened today’s session higher at 24,043 versus Friday’s close of 23,923. It is now trading at 24,060, up 0.6 per cent.

While the contract has risen so far today, there is a resistance ahead at 24,150. This hurdle should be breached for the rally to sustain.

A breakout of 24,150 will open the door for a rise to 24,300. However, if Nifty futures declines from the current level of 24,060, it will find support at 24,000. 

In case 24,000 is breached, it can turn the outlook bearish, potentially dragging the contract to 23,800.

Overall, as it stands, the direction of the next trend depends on which of 24,000 and 24,150 is breached first. As it stands, given the market breadth and the broad-based buying, the likelihood of a breakout of 24,150 appears higher.

Trading strategy

Buy Nifty futures (April) if it breaks out of 24,150. Target and stop-loss can be 24,300 and 24,075 respectively. 

Supports: 24,000 and 23,800

Resistance: 24,150 and 24,300

Published on April 27, 2026