The trends on Gift Nifty indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 23,974 level, a discount of nearly 298 points from the Nifty futures’ previous close.

The Nifty 50 is likely to open below 23,000, as tension between India and Pakistan increased after the former intercepted missile attacks late Thursday.

The analyst expects a higher probability of correction in the Nifty index and urges caution. Key levels to watch are 24,230 on the downside and 24,300–24,420 on the upside.