Nifty 50 began today’s session with a considerable gap-up at 22,899 compared to Monday’s close of 22,331. The index has been flat since the opening and is now trading at 22,870, up 2.5 per cent so far.
Barring HDFC Life (down 0.3 per cent) and Power Grid (down 0.2 per cent), all other stocks in Nifty 50 have advanced. Thus, the advance/decline ratio of the index stands at 48/2, showing a strong positive bias. InterGlobe Aviation (up 9 per cent) and Trent (up 6.7 per cent) are the top gainers.
In addition to market breadth, supporting the bullish inclination, all sectoral indices are in the green. Nifty IT, up 4 per cent, and Nifty Media, up 3.8 per cent, are the top performers so far today.
The April expiry Nifty futures opened today’s session higher at 22,850 versus Monday’s close of 22,426. It is now trading at 22,870, up 2 per cent.
Although Nifty futures opened with a gap up, the price action since the beginning of the session shows that the bullishness is not leading to a follow-up rally. In fact, the price action has started to shows bearish signs.
Nevertheless, the contract has a support at 22,840. If this level is breached, we can expect further decline. The nearest support can be spotted at 22,650 with the subsequent one at 22,600.
On the other hand, if there is a recovery, only a clear breakout of 23,040 can result in a sustainable intraday rally. In such a case, Nifty futures can rally to 23,250. Resistance above 23,250 is at 23,500.
Overall, the path of intraday trend depends on the key levels at 22,840 and 23,040. Based on this, below is our trade recommendation.
Sell Nifty futures (April) if it slips below the support at 22,840. Target and stop-loss can be 22,650 and 22,930 respectively.
Instead, if the contract breaks out of 23,040, go long with a stop-loss at 22,900 for a target of 23,250.
Supports: 22,840 and 22,650
Resistance: 23,040 and 23,250
Published on April 1, 2026
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