Nifty 50 poised for further gains as bullish momentum builds. The index is trading at 23,978, up 0.85 percent in early trades with a positive 41:9 advances-declines ratio. Technical analysis suggests Nifty 50 April Futures can break above the 24,080 resistance level to reach 24,450 and potentially 24,600 in coming days. Key support zones are established at 23,730-23,640, which effectively limited downside pressure on Thursday. The contract must hold above 23,640 to maintain its uptrend; a break below would signal weakness toward 23,300. Traders are advised to consider long positions at current levels of 24,030 with accumulation on dips at 23,940, using a stop-loss at 23,740. As momentum builds, stop-losses should be trailed upward at key resistance levels.
