Nifty 50 seems to be struggling to get a strong follow-through buying. The index opened with a gap-up at 23,535 and touched a high of 23,589. From there it has come down and is trading at 23,495, up 0.36 per cent. The advances/declines ratio is at 32:18. This is positive. This trend has to sustain for the Nifty to retain its gains and go further higher. We will have to wait and see.

Nifty 50 Outlook

Intraday resistance is around 23,600 which is holding well for now. Support is around 23,400. So, 23,400-23,600 can be the possible trading range for now. A breakout on either side of 23,400-23,600 will then determine the next leg of move.

A decisive break above 23,600 can take the Nifty higher to 23,730. Failure to breach 23,730 thereafter can drag the index down to 23,600 again. On the other hand, a further break above 23,730 will ease the downside pressure and take the Nifty up to 23,850-23,900.

In case the Nifty breaks below 23,400 during the day, it can come under pressure again. In that case, a fall to 23,200 and even lower levels can be seen in the coming sessions.

Nifty 50 Futures

Nifty 50 May Futures (23,485) is up 0.1 per cent. The contract is coming down after making a high of 23,615 in the early trades. A key intraday support is at 23,430. A break below it can drag the contract down to 23,300 during the day.

Important resistance is at 23,630. The contract has to breach this hurdle in order to go up to 23,750-23,800. That looks less likely as seen from the price action on the intraday charts.

Trade Strategy

Traders can go short on a break below 23,430. Keep the stop-loss at 23,470. Trail the stop-loss down to 23,410 as soon as the contract falls to 23,390. Revise the stop-loss lower to 23,380 and 23,350 when the contract touches 23,355 and 23,335 respectively. Exit the short positions at 23,320.

Supports: 23,430, 23,300

Resistances: 23,630, 23,750

Published on May 14, 2026