Nifty 50 has got a good follow-through rise today. This adds strength after the strong recovery seen from the intraday low on Monday. However, it is now important to see if furthermore fresh buyers are coming into the market or not.

Nifty is currently trading at 23,736, up 0.36 per cent. The advances/declines ratio is at 34:16. The trend has to sustain in favour of the advances for the Nifty to go higher.

Nifty 50 outlook

An important intraday support is in the 23,680-23,660 region. Nifty has to necessarily sustain above this support to keep the sentiment positive. That will keep the upside open to see 23,850 during the day. A break above 23,770 can trigger this rise.

Nifty will come under pressure for a fall again only if it breaks below 23,660. Such a break can drag it down to 23,500 and even 23,300 again.

Nifty 50 Futures

The Nifty 50 May Futures (23,732) is up 0.34 per cent. The contract has good support at 23,670. Some resistance is around 23,785. A strong break above it can take the contract higher to 23,900 in the coming sessions.

This rise will get negated only if the contract breaks below 23,670. If that happens, a fall to 23,500-23,400 can be seen.

Looking at the strong bounce from Monday’s low, we see high chances for the contract to rise to 23,900.

Trade Strategy

Traders can go long now at 23,732. Accumulate on dips at 23,690. Keep the stop-loss at 23,620. Trail the stop-loss up to 23,760 as soon as the contract goes up to 23,795. Revise the stop-loss higher to 23,805 and 23,845 when the contract touches 23,830 and 23,860 respectively. Exit the longs at 23,880.

Supports: 23,670, 23,500

Resistances: 23,785, 23,900

Published on May 19, 2026