Nifty 50 opened with a gap-down at 23,282 today versus Wednesday’s close of 23,406. However, the index recouped the loss in the first hour of the trade and is now hovering around 23,430, up 0.1 per cent.The advance/decline ratio stands at 28/22, showing mild positive inclination. Eternal (Zomato) is the top gainer by appreciating 3.2 per cent followed by Titan Company, which has advanced 2.1 per cent so far today.On the other hand, Infosys, down 1.4 per cent, and Trent, down 0.9 per cent, are the top losers.Barring Nifty Meal (down 0.4 per cent) and Nifty IT (down 0.25 per cent), all other sectoral indices are in the green. Nifty Consumer Durables (up 2 per cent) and Nifty Auto (up 1.3 per cent) are the top performers.The above factors show that there is a positive inclination overall today and we are likely to see the underlying Nifty 50 and Nifty futures extend the gains through the day. Nifty 50 futuresThe June expiry Nifty futures began today’s session lower at 23,352 versus yesterday’s close of 23,516. It is now trading at 23,500, down 0.1 per cent.A rally in today’s first hour of trade shows that the bulls are trying to take control. Also, the price action so far this week shows that despite the selling pressure, Nifty futures is forming a base between 23,270 and 23,300.So, we expect Nifty futures to see a rally on the back of the above-mentioned support band. From the current level of 23,500, the contract might dip to 23,450. But eventually, we anticipate a rise to 23,640 today.Only a breakdown below 23,330 will weaken the intraday bullish outlook. Even in this case, Nifty futures declining below 23,270 is unlikely. So, traders can consider buying the dips.Trading strategyBuy Nifty futures (Jun) at 23,450. Target and stop-loss can be 23,640 and 23,320 respectively.Supports: 23,330 and 23,300Resistance: 23,640 and 23,700Published on June 4, 2026