Nifty 50 began today’s session on October 1, 2026, with a gap-down at 22,544. The index fell 0.2 per cent as bears held the upper hand. While Kotak Mahindra Bank and Infosys gained, Bajaj Auto and Grasim Industries fell. Analysts said the downtrend remains valid, with no signs of a reversal.
Nifty 50 began today's session with a gap-down at 22,544 versus yesterday's close of 22,620. The index is now hovering around 22,570, down 0.2 per cent.
The advance/decline ratio of Nifty 50 currently stands at 19/31, indicating a bearish bias. Kotak Mahindra Bank (up 3.1 per cent) and Infosys (up 2.3 per cent) are the top gainers.
On the other hand, Bajaj Auto (down 6.8 per cent) and Grasim Industries (down 3.3 per cent) are the top losers.
Among the sectors, Nifty IT (up 1.9 per cent) and Nifty Private Bank (up 1 per cent) are the best performers. Whereas Nifty Auto (down 2.1 per cent) and Nifty Cement (down 1.8 per cent) are the top losers.
The chart shows that the downtrend remains valid and there are no signs of a reversal yet. So, there is a good chance for Nifty 50 and Nifty futures to see further decline.
Nifty 50 futures
Nifty (Oct) futures opened lower at 22,630 today compared to Wednesday's close of 22,707. The contract is now hovering around 22,660, down 0.2 per cent.
From the current level, the October futures might see a decline to 22,500, a notable support. Instead, if the contract recovers from the current level of 22,660, it will face a barrier at 22,750. Resistance above 22,750 is at 22,900.
Only a clear breakout of 22,900 will turn the near-term outlook positive. However, given the strength of the downtrend, Nifty futures is less likely to reclaim 22,900 today.
Trading strategy
Short Nifty (Oct) futures now at 22,700. Target and stop-loss can be 22,500 and 22,800 respectively.