Nifty 50 seems to be struggling to get a strong follow-through rise. The index is currently trading at 24,186, down 0.3 per cent. The advances/declines ratio is at 15:35. This is negative and indicates that more fall could be on the cards.
The intraday price action indicates that the index is struggling to breach 24,300. That keeps the danger alive of seeing a fall to 24,000 and even lower again.
Nifty has to get a decisive break above 24,300 in order to gain some momentum. If it does, then the upside will open up for a rise to 24,500-24,600. We will have to wait and see.
The Nifty 50 March futures (24,266) is down about 0.5 per cent. The resistance near 24,450 has held very well. The bias is looking negative. There are good chances to see a fall to 24,000 and even 23,800 from here.
To avoid this fall, the contact has to breach 24,450 decisively. Such a break can take the Nifty 50 March futures contract higher to 24,750.
But on the charts, the bias looks negative. So, the chances of seeing a fall from here is high.
Traders can go short now at 24,266. Add more shorts at 24,340. Keep the stop-loss at 24,510 initially. Trail the stop-loss down to 24,220 as soon as the contract falls to 24,170. Revise the stop-loss down to 24,110 and 23,970 when the contract touches 24,040 and 23,920 respectively. Exit the shorts at 23,850.
Supports: 24,000, 23,800
Resistances: 24,450, 24,750
Published on March 11, 2026
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