Nifty 50, today’s session slightly lower at 23,402 versus yesterday’s closure of 23,437. After opening, he saw a decrease and is currently at 23,380, 0.25 percent less.
The anticipation/decrease of the index is in 14/36, giving it a bearish bias. Icici Bank (UP 1.8 percent) and Grasim’s industries (1.2 percent more) are the main winners.
At the other extreme, Wipro technologies (5.7 percent) and HCl (3 percent below) are the main losers.
Like the reference index, all medium and small capitalization indices are in red, indicating a broader Beararish inclination for today.
Among the sectors, Nifty Pharma and Nifty Private Bank, a third of percent each, are the main winners. Nifty is the weakest by losing 2.2 percent so far today.
Ingenious 50 Futures
The future of April of Nifty 50 begged today’s session with a gap in 23,400 compared to the closure of 23,434 yesterday. It is currently traded at 23,370, 0.25 percent less.
Since Tuesday, the contract has been drawing a lateral trend within 23,280 and 23,450. But in general terms, Nifty Futures has maintained a bullish bias.
If the contract resumes the rally and leaves 23,450, it can increase to 23,600. A violation of this can raise it more than 24,000.
But if Nifty Futures slides below 23,280, it can extend the decrease to 23,000 and 22,800, remarkable support levels.
As it is, the contract is still in the upward trend and, therefore, there is a good opportunity to resume the current level of 23,370 or after a sauce at 23,280.
Commercial strategy
Go long in Nifty Futures (April) to 23,280. The objective and loss of detention for intraay can be 23,600 and 23,150 respectively.
Support: 23,280 and 23,000
Resistance: 23,450 and 23,600
Posted on April 17, 2025