Nifty 50 began today’s session at 23,362 compared to yesterday’s close of 23,380. The index inched up after opening and is now trading at 23,420, up 0.2 per cent.

The advances/ declines ratio stands at 26/24. Asian Paints, up 4.3 per cent, is the top gainer, followed by Hindalco Industries and Adani Ports, up 2.2 per cent each. On the other hand, Power Grid Corporation of India, down 2.3 per cent, and Eicher Motors, down 2.1 per cent, are the top losers. 

Among the sectoral indices, Nifty Metal, up 1.7 per cent, tops the chart, followed by Nifty Chemicals, up 1 per cent. At the other end of the spectrum, Nifty Media, down 0.5 per cent, and Nifty PSU Bank, down 0.3 per cent, are the top losers. 

Nifty 50 futures

The May expiry Nifty futures opened today’s session marginally higher at 23,455 versus yesterday’s close of 23,425. It is now trading at 23,500, up 0.3 per cent.

While the daily chart shows a bearish bias, particularly after the breach of the support at 24,000 early this week, there is a chance for a corrective rally from the current level.

If such an uptick occurs, Nifty futures can rise to 23,700. A breakout of this can lift the contract to 23,900.

On the other hand, if the downtrend resumes from the current level of 23,500, the bears can drag Nifty futures to 23,200 and then 23,000.

Overall, as it stands, the chart shows a bearish inclination, but one cannot rule out a corrective uptick before the next downswing.

Trading strategy

Sell Nifty futures (May) if it rises to 23,600. Target and stop-loss can be 23,200 and 23,800, respectively.

Supports: 23,200 and 23,000

Resistance: 23,700 and 23,900

Published on May 13, 2026