Nifty 50 began today’s session with a gap-down at 23,909 compared to yesterday’s close of 23,997. The index fell further after opening and is now trading at 23,820, down 0.7 per cent.

The advance/decline ratio of Nifty 50 now stands at 19/31, showing a bearish bias. Hindalco Industries (up 3.5 per cent) is the top gainer followed by NTPC (up 1.5 per cent). 

On the other hand, Eternal (down 2.3 per cent) and Infosys (down 2.1 per cent) are the top losers so far. 

Most of the sectors are in the red at the moment led by Nifty Realty (down 1.5 per cent) followed by Nifty IT (down 1.2 per cent). Nifty Metal (up 1.4 per cent), Nifty Pharma (up 0.3 per cent) and Nifty Healthcare (up 0.25 per cent) are the only gainers.

Nifty 50 futures

The April expiry Nifty futures opened today’s session lower at 23,960 versus yesterday’s close of 24,058. It is now trading at 23,900, down 0.6 per cent.

The price action so far today shows that the bears are regaining traction. Nifty futures unable to hold on to 24,000 is a sign of weakness.

Given the prevailing price action, the intraday outlook is weak. The contract is likely to decline to 23,700. But in case it rallies, note that only a clear breakout of 24,000 will turn the outlook positive. In such a case, Nifty futures can rally to 24,200.

Overall, as it stands, our expectation is an intraday downtrend. 

Trading strategy

Sell Nifty futures (April) now at 23,900. Target and stop-loss can be 23,700 and 24,050 respectively.

Supports: 23,700 and 23,500

Resistance: 24,000 and 24,200

Published on April 9, 2026