Nifty 50 began today’s session marginally higher at 23,671 versus Thursday’s close of 23,655. It advanced after opening and is now trading at 23,775, up 0.5 per cent so far today.
The advance/decline ratio of Nifty 50 now stands at 38/12, showing a positive bias. Asian Paints (up 2 per cent) is the top performer followed by Axis Bank (up 1.9 per cent). On the other hand, Max Healthcare (down 6.2 per cent) and ITC (down 1.6 per cent) are the top losers.
Among the sectors, Nifty Private Bank (up 1.3 per cent) tops the chart followed by Nifty Financial Services (up 1.1 per cent). Nifty Media (down 1.25 per cent) and Nifty Healthcare (down 1.1 per cent) are the top losers.
While the above factors do show some positive bias, Nifty futures is now hovering around a resistance level. Notably, the contract fell off this barrier yesterday. Whether it can successfully get past this price point today? Here’s an analysis.
Nifty 50 futures
The May expiry Nifty futures opened today’s session higher at 23,689 versus yesterday’s close of 23,631. It is now trading at 23,780, up 0.7 per cent.
After falling off the resistance at 23,800 yesterday, in today’s session, the contract seems to have regained momentum and moved back to 23,800.
If Nifty futures can break out of 23,800, it can extend the rally to 24,100. But if the contract falls again, it is likely to dip to 23,600. A breach of this can drag Nifty futures further lower to 23,350.
Overall, as it stands, Nifty futures look comparatively stronger today than yesterday and so, we expect it to surpass 23,800 and rise to 24,100. So, traders can consider longs.
Trading strategy
Go long on Nifty futures (May) now at 23,780. Target and stop-loss can be 24,100 and 23,650 respectively. Irrespective of whether either target or stop-loss is triggered, exit this trade just before the end of the session at the prevailing price.
Supports: 23,600 and 23,350
Resistance: 23,800 and 24,100
Published on May 22, 2026