Nifty 50 is gaining strength. The index has seen a strong rise in opening trades today. It is currently trading at 23,378, up 0.58 per cent. The advances/ declines ratio is at 35:15. This is positive. If this trend sustains, the Nifty can rise more during the day.

Nifty 50 outlook

The rise today has taken the Nifty well above the key resistance level of 23,270. The bias is bullish. Immediate resistance is near the current levels at 23,380. A break above it can take the Nifty higher to 23,500 in the next few sessions.

If the index turns down from around 23,380, a dip to 23,300-23,280 is possible. Fresh buyers are likely to come in around these levels. So, we can expect the Nifty to bounce back again from around 23,300 and go higher eventually.

Ideally, we can expect the Nifty to go up to 23,500. This rise can either happen from here itself or after a dip to 23,300.

Nifty 50 futures

The Nifty 50 June Futures (23,399) is up 0.28 per cent. The contract has risen sharply, breaking above the key resistance level of 23,320. A rise to 23,460-23,480 can be seen during the day. Failure to breach 23,480 can drag the contract down to 23,350 and lower again.

On the other hand, if the contract breaches 23,480 decisively, a rise to 23,600 will come into the picture.

Trade strategy

Traders can wait for dips. Go long at 23,360 and 23,330. Keep the stop-loss at 23,280. Trail the stop-loss up to 23,385 as soon as the contract goes up to 23,405. Move the stop-loss higher to 23,410 when the contract touches 23,435. Exit the long positions at 23,460.

Supports: 23,350, 23,280

Resistances: 23,480, 23,600

Published on June 10, 2026