Nifty 50 is trading higher. The index is sustaining well after a sharp bounce on Monday. It is currently trading at 23,487, up 0.32 per cent.

It is important to see if the index is getting a strong follow-through rise today or not. The advances/declines ratio is at 34:16. This is positive for now. This trend has to remain through the day in order to take the Nifty further higher.

Nifty 50 Outlook

Intraday support is in the 23,400-23,350 region. If Nifty manages to sustain above this support, a rise to 23,600 is possible during the day. A further break above 23,600 will give more relief. It will then open the doors for a rise to 23,900-24,000 thereafter.

Failure to breach 23,600 can drag the index down to 23,500-23,400 again during the day.

Nifty 50 Futures

The Nifty 50 March Futures (23,517) is up 0.38 per cent. The contract has risen well above a key resistance level of 23,350. As long as it stays above this support, the bias will remain positive. A rise to 23,750-23,800 looks like in the coming sessions.

The above-mentioned rise will get negated only if the contract declines below 23,350. In that case it can fall back to 23,200-23,150 again.

Trade Strategy

Traders can go long on dips at 23,470 and 23,410. Keep the stop-loss at 23,310. Trail the stop-loss up to 23,510 as soon as the contract goes up to 23,560. Revise the stop-loss higher to 23,570 and 23,660 when the contract touches 23,630 and 23,690 respectively. Exit the long positions at 23,740.

Supports: 23,350, 23,200

Resistances: 23,750, 23,800

Published on March 17, 2026