Nifty 50 began today’s session with a gap-up at 24,385 compared to yesterday’s close of 24,231. The index moderated after opening and is now hovering around 24,280, up 0.25 per cent by the end of the first hour of today’s trade.

The advance/decline ratio of Nifty 50 now stands at 30/30, showing a bullish bias. Hindalco Industries (up 2.7 per cent) is the top gainer followed by Bajaj Finance (up 1.4 per cent).

On the other hand, HCL Technologies (down 0.9 per cent) and Bharti Airtel (down 0.9 per cent) are the top losers so far. 

Among the sectors, Nifty Metal, up 1.5 per cent, leads followed by Nifty It, up 0.75 per cent. Whereas Nifty Auto and Nifty Media, down 0.4 per cent each, are the top losers.

Nifty 50 futures

The April expiry Nifty futures opened today’s session higher at 24,342 versus yesterday’s close of 24,238. It is now trading at 24,300, up 0.3 per cent.

After opening with a gap-up, the contract has seen a decline. However, there is a support at 24,250 followed by another support at 24,200. As long as these levels hold true, the bias will be bullish.

A recovery on the back of the support band of 24,250-24,200 can lift Nifty futures to 24,400 and 24,500 today. However, if the support at 24,200 is breached, the intraday outlook will turn bearish, paving the way for a potential decline to 24,000.

Nevertheless, since the support at 24,200 holds, the likelihood of a rally is high.

Trading strategy

Buy Nifty futures (April) now at 24,300. Target and stop-loss can be 24,500 and 24,180 respectively.

Supports: 24,250 and 24,200

Resistance: 24,400 and 24,500

Published on April 16, 2026