Nifty 50 appears to be caught between 24,000 and 24,350 over the previous couple of days. With this vary it’s at the moment buying and selling at 24,297, down 0.14 per cent. The advance/declines ratio is at 26:24: This isn’t very constructive. If the ratio inclines in the direction of the declines, then the Nifty can come down throughout the day.
Nifty 50 Outlook
The quick outlook is combined. Nifty is vary sure as talked about above between 24,000 and 24,350. Intraday assist inside the vary is at 24,200. A break beneath it could take the Nifty right down to 24,000. Can the Nifty break beneath 24,000? That’s not very clear as of now. Even when it declines beneath 24,000, the draw back could possibly be restricted to 23,900-23,850.
A decisive break above 24,350 is required to strengthen the momentum. Such a break will take the Nifty as much as 24,500-24,600 in the coming classes.
Nifty 50 Futures
The Nifty 50 April Futures (24,280) is down 0.13 per cent. Just like the underlying, the Futures contract additionally has an intraday assist at 24,200. If it declines beneath this assist, a fall to 24,000 and decrease ranges may be seen today.
Resistance is in the 24,350-24,360 area. The contract has to breach 24,360 to maneuver additional up in the direction of 24,550 and better.
Commerce Technique
Since the market appears to be vary sure, we recommend merchants to remain out of the market today.
Helps: 24,200, 24,000
Resistances: 24,360, 24,550
Revealed on April 24, 2025
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