Nifty 50 began today’s session with a significant gap-down at 23,198 compared to yesterday’s close of 23,778. It recovered a little and is now trading at 23,230, down 2.2 per cent by the end of today’s first hour.

Barring ONGC (up 0.8 per cent), all the remaining 49 stocks in Nifty 50 index are in the red. HDFC Bank (down 5.1 per cent) is the top loser followed by Shriram Finance (down 4.4 per cent).

All sectors are in the red so far today. Nifty Realty and Nifty Private Bank, down 3.3 per cent each, are the top losers followed by Nifty Financial Services, down 2.9 per cent.

Nifty 50 futures

The March expiry Nifty futures opened today’s session considerably lower at 23,340 versus yesterday’s close of 23,776. It is now trading at 23,250, down 2.2 per cent.

Although there are bearish signs, considering a fall of over 2 per cent means that the contract is at oversold levels for today. While this does not mean that a recovery is ahead, the likelihood of further decline is low.

From the current level of 23,250, the nearest potential support levels are 23,200 and 23,000.

In case there is a recovery, Nifty futures can face barriers at 23,400. A breakout of this can give some breathing space for the bulls where the contract can attempt rallying to 23,600.

Overall, there is weakness in Nifty futures. But since it has fallen over 2 per cent and there are support levels ahead, there is a good chance for it to chart a sideways trend for the rest of today. 

Trading strategy

Risk-reward ratio is unfavourable for fresh short positions at the current level. Also, as discussed above, Nifty futures might stay sideways. Hence, refrain from entering fresh trades.

Supports: 23,200 and 23,000

Resistance: 23,400 and 23,600

Published on March 19, 2026