NIFTY 50 is going abruptly within its range 24000-24360. The index is currently approaching the lower end of the previously mentioned range. It is currently quoted at 24,051, 0.85 percent less. The advance/decrease relationship is 5:45. This is clearly negative and indicates that more fall could be in the duration of the cards the day.
Nifty 50 outlook
NIFTY can fall to 23,850-23,800 at a break below 24,000. This fall could be a correction within the wide bullish trend. In addition, we do not expect the index to decrease below 23,800. As such, the fall to 23,850-23,800 can be a good opportunity to return to the market again. We hope the Nifty will revert more than 23,800 and return to 24,300 and Highher again.
Ingenious 50 Futures
The Nifty 50 May Futures (24,100) has dropped approximately one percent now. The IMEDIATED SUPPORT is 24,070. A break can then take the Nifty 50 Futures Contract at 23,900-23,850.
The region around 23,850 is a strong support. A break below 23,850 is less likely. We hope that the NIFTY May 50 is the contract to reverse the highest of around 23,850. Such rebound can take the Nifty 50 Futures Contract up to 24,200-24,400 again.
Commercial strategy
The market seems to be volatile today. So, we suggest merchants to stay out of the market. However, if a fall at 23,900-23,850 today is observed today, merchants can candidates who take long charges.
Support: 24,070, 23,900
Resistances: 24,200, 24,400
Posted on April 25, 2025