Nifty 50 opened with a gap-down at 23,416 today versus Tuesday’s close of 23,484. The index declined further after opening and is now hovering around 23,280, down 0.9 per cent.The advance/decline ratio stands at 10/40, showing a bearish bias. Apollo Hospitals Enterprise and Coal India, up 1.25 per cent each, are the toppers in Nifty 50. At the other end, TCS, down nearly 6 per cent, is the top loser followed by Tech Mahindra, down 3.8 per cent. Supporting the bearish inclination, all sectoral indices are in the red. Nifty IT, down 3.7 per cent, and Nifty Realty, down 1.7 per cent, are the weakest indices so far today.The above factors show that the bears are in control and we are likely to see further decline through the day. Nifty 50 futuresThe June expiry Nifty futures began today’s session lower at 23,500 versus yesterday’s close of 23,603. It is now trading at 23,330, down 1.2 per cent.The gap-down open and the sharp decline that followed means the downward momentum is strong. That said, from the current level, we might see Nifty futures inching up to 23,360-23,400 before seeing the next leg of decline.Once the downtrend resumes, the June futures can fall to 23,270, a support. A breach of this can drag the contract further to 23,200.On the other hand, if Nifty futures recovers above 23,400, the downtrend can lose momentum. That said, even in this case, a strong recovery is less likely whereas Nifty futures might stay flat for the rest of the day.Trading strategySell Nifty futures (Jun) at 23,380. Target and stop-loss can be 23,270 and 23,430 respectively.Supports: 23,270 and 23,200Resistance: 23,400 and 23,500Published on June 3, 2026