Nifty 50 has been getting a good follow-through after witnessing a strong bounce on Monday. The index is currently trading at 23,714, up 0.55 per cent. The advances/declines ratio is at 36:14. This is positive. If the trend sustains, then Nifty can rise further from here.
Immediate resistance is in the 23,730-23,760 region. Support will be in the broad 23,600-23,500 region. A strong break above 23,760 can boost the momentum. It can then clear the way for a rise to 23,850 initially and then to 24,000 and higher eventually in the coming sessions.
Nifty will now have to fall below 23,500 to come under pressure again. Only then the downside will open up for a fall to 23,350-23,300 and lower.
The Nifty 50 March Futures (23,752) is up 0.56 per cent. Resistance is around 23,835 which can be tested during the day. Failure to breach this hurdle can trigger a corrective fall to 23,550-23,500.
A strong break above 23,835 is needed for the Nifty 50 March Futures contract to higher towards 23,950-24,000.
So, the price action around 23,835 will need a close watch today.
Since an important resistance is coming up, we suggest traders to stay out of the market today.
Supports: 23,550, 23,500
Resistances: 23,835, 23,950
Published on March 18, 2026
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