Nifty 50 began today’s session lower at 23,991 versus Thursday’s close of 24,168. The index slipped further after opening and is now at 23,950, down 0.9 per cent.

The advance/decline ratio of Nifty 50 now stands at 14/36, showing a bearish bias. NTPC and Adani Enterprises, up 1.1 per cent each, top the chart.

On the other hand, Infosys is the biggest loser by declining 8.5 per cent. This is followed by TCS and Tech Mahindra, down 6.1 and 5.6 per cent, respectively.

Thus far, the technology stocks are under immense pressure today and as a result, Nifty IT (down 5.9 per cent), is the weakest sectoral index. Among the very few sectors that are up, Nifty Media and Nifty Pharma lead by advancing nearly 0.3 per cent each.

As it stands, weighed down by the selling pressure on the IT stocks, Nifty 50 appears weak.

Nifty 50 futures

The June expiry Nifty futures began today’s session with a gap-down at 24,020 versus yesterday’s close of 24,193. It is now hovering around at 24,000, down 0.8 per cent.

Although the contract has declined in today’s early trade, it should be noted that Nifty futures have support levels ahead. 24,000 is a good base, where the 50-day moving average coincides, followed by 23,900. Only a clear breach of 23,900 can keep the bulls at bay. Until then, there will be attempts for a recovery.

In case Nifty futures rebound, either from 24,000 or 23,900, they can retest the prior high of 24,210. The uptrend might even extend to 24,300.

However, if the bears drag the contract below 23,900, the sell-off can intensify, potentially leading to a deeper decline to 23,800 and 23,700.

While the likelihood for Nifty futures breaching the support at 23,900 is low, it surpassing 24,210 today is also unlikely. This leaves the possibility for a sideways trend high.

That is, Nifty futures could remain within 23,900 and 24,210 throughout the day. Therefore, initiating fresh traders now might not be ideal.

Trading strategy

We recommend staying out today. However, traders with higher risk tolerance can buy Nifty futures at 24,000 as this level is a support. Target and stop-loss can be 24,210 and 23,880, respectively. 

Supports: 24,000 and 23,900

Resistance: 24,210 and 24,300

Published on June 19, 2026