Nifty 50 has opened the day with a wide gap-up. The US cancelling its planned attack on Iran has triggered this strong rise in equities today. Nifty touched a high of 23,455.95 in early trade and has come down slightly from there. It is currently trading at 23,403, up 1 per cent for the day. The advances/ declines ratio is at 44:6. This is positive.

Nifty 50 Outlook

The gap-up open today has taken the index well above a key resistance level of 23,300. The next resistances are at 23,460 and 23,520 which can be tested if the index sustains higher. Failure to move up from here can take the index down to 23,330-23,300 during the day.

The level of 23,300 will now act as a good support and limit the downside. As such we can expect the Nifty to sustain above 23,300 and go higher again.

For, it is better to wait and watch how the index moves from here.

Nifty 50 futures

The Nifty 50 June Futures (23,431) is up 0.97 per cent. The contract is coming down from the high of 23,475. However, support is at 23,370, which can limit the downside for the day. As long as the contract stays above this support, the bias will remain positive. The Nifty 50 June futures contract can rise to 23,600-23,700 by next week.

The contract will come under selling pressure again only if it declines below 23,370. In that case, it can fall back to 23,150-23,100 again.

Trade Strategy

Traders can go long on dips at 23,410 and 23,390. Keep the stop-loss at 23,330. Trail the stop-loss up to 23,435 as soon as the contract goes up to 23,460. Revise the stop-loss higher to 23,480 and 23,530 when the contract touches 23,510 and 23,555 respectively. Exit the long positions at 23,580.

Supports: 23,370, 23,300

Resistances: 23,600, 23,700

Published on June 12, 2026