Nifty 50 has opened with a wide gap after the long weekend. The index touched a maximum of 23,368 in the opening operations and has dropped slightly from there. It is currently quoted at 22,316, 2.14 percent more. The advance/decrease relationship is 48: 2. This indicates that bias is optimistic.
Nifty 50 outlook
Nifty has increased well above the key resistance level or 23,200. This is positive. The IMEDIATED RESISTANCE is 23,400. A rest above can take the index to 23,600 in the next sessions.
The lack of non-compliance with 23,400 can activate a retrospective movement to 23,300-23,200. But that can be a good purchase opportunity. We hope that the NIFTY 50 index will remain above 23,200 and increase to 23,600 if not immediately, but any Vally in the future.
Ingenious 50 Futures
The NIFTY April 6 Futures (23,370) has increased by 1.97 percent. Outlook is optimistic. The support is 23,200-23,150 region on the Broad. The ingenious futures contract of April 6 can increase to 23,500 in the next sessions. A strong break is needed above 23,500 to extend the course of 23,700 and more in the next few days.
An investment of around 23,500 can drag the contract at 23,200-23,150.
Commercial strategy
Althegh The Outlook is optimistic, the risk/reward ratio indicates that merchants have to wait for the sauces to take new long ones. Go long in the sauces at 23,310 and 23,240. Keep the stop-alss at 23,120. Follow the stop-loss up to 23,350 as soon as the contract rises to 23,420. Move the stop-loss up to 23,440 when the contract touches 23,510. Leave the long positions to 23,600.
Support: 23,200, 23,150
Resistances: 23,500, 23,700
Posted on April 15, 2025