The advance/decline ratio stands at 16/34, showing a bearish bias. Bharat Electronics (up 2.4 per cent) and Reliance Industries (up 2.3 per cent) are the top gainers.
On the other hand, ICICI Bank and Axis Bank, down 2.2 per cent each, are the top losers followed by HDFC Life, down 1.9 per cent.
Among the sectors, Nifty IT (up 1.1 per cent) is the top gainer whereas Nifty Private Bank (down 1.3 per cent) is the top loser. Notably, most of the sectors are in the red, denoting a broader bearish bias.
Nifty 50 futures
The March expiry Nifty futures opened today’s session lower at 24,690 versus yesterday’s close of 24,854. It is now trading at 24,715, down 0.6 per cent.
The chart shows that the contract faces a resistance at 24,780. Only a breakout of this can turn the intraday outlook positive. In such a case, Nifty futures can rise to 24,850 and 25,000.
But if the bears gain traction on the back of the barrier at 24,780, they can drag the contract down to 24,500. Support below 24,500 is at 24,200. Overall, we see a bearish bias.
Trading strategy
Short Nifty futures (March) once it slips below 24,670. Target and stop-loss can be 24,500 and 24,800 respectively.
Supports: 24,500 and 24,200
Resistance: 24,780 and 24,850
Published on March 6, 2026