Nifty 50 seems to be stuck between 24,000 and 24,350 in recent days. With this range it is currently quoted at 24,297, 0.14 percent less. The anticipated/decrease relationship is at 26:24: this is not very positive. If the relationship in inclination towards decreases, then the Nifty can lower the day.
Nifty 50 outlook
The immediate perspective is mixed. Nifty is tied as mentioned above between 24,000 and 24,350. The intradic support within the range is 24,200. A break below can take the NIFTY to 24,000. Can the ingenious break below 24,000? That is not very clear from now on. Even if it decreases below 24,000, the disadvantage could be limited to 23,900-23,850.
A decisive rest is needed above 24,350 to strengthen the impulse. Such a break will take the mills to 24,500-24,600 in the next sessions.
Ingenious 50 Futures
The ingenious future of April 30 (24,280) has dropped 0.13 percent. Similar to the underlying, the futures contract also has an intradic support at 24,200. If it decreases below this support, a fall to 24,000 and the lowest levels can be so today.
The resistance is in the region 24,350-24,360. The contract has to violate 24,360 to advance more towards 24,550 and more.
Commercial strategy
Since the market seems to be tied, we suggest merchants to stay out of the market today.
Medium: 24,200, 24,000
Resistances: 24,360, 24,550
Posted on April 24, 2025