Nifty 50, today’s session with a 24,358 gap versus yesterday’s closure or 24,167. It is currently around 24,340, 0.75 percent more in early trade.
The index progress /decreases is 44/6, which gives it a strong bullish bias. HCl technologies (UP 6.2 percent) and Tech Mahindra (UP 3.5 percent) are the main winners.
At the other extreme, the Mahindra Kotak (less 0.5 percent) and service industries (0.4 percent less) are the main losers.
Like the reference index, all medium and small capitalization indices are in the green, indicating a broader bullish inclination for today.
Locating the positive inclination, all sectors have advanced in the early trade of today. This is directed by Nifty IT (3.3 percent more) and Nifty Realty (1.5 percent more).
Ingenious 50 Futures
The future of April of Nifty 50 increased the highest today’s session by 24,310 compared to the closure of yesterday or 24,169. It is currently quoted at 24,350, 0.7 percent more.
The ascending impulse is strong, leaving the possibilities of a higher high rally. From the current level of 24,350, the closest remarkable resistance levels are 24,500 and 24,800.
In case there is a decrease in the current level, Nifty Futures can find support at 24,270 and 24,200. A violation of the latter can convert the weak intradic perspective.
Althegh, the trend is clearly optimistic, the acute nature of the recent rally means that there could be a corrective decrease at any time. Therefore, we suggest that merchants are cautious as we advance. But keep in mind that such corrections can be a good purchase opportunity.
Commercial strategy
Buy Nifty Futures (April) to 24,250 and 24,150. The objective and loss of detention for intraayos can be 24,500 and 24,050 respectively.
Medium: 24,270 and 24,200
Endurance: 24,500 and 24,800
Posted on April 23, 2025