Nifty 50 is managing to hold higher. The price action indicates the absence of strong buyers to push it higher at a fast pace. At the same time, there is lack of strong sellers to drag it lower as well.

Nifty is currently trading at 24,122, up 0.07 per cent. The advances/ declines ratio is at 35:15. This is positive.

Nifty 50 outlook

The bounce from the low of 24,040 is positive. It indicates buying around the psychological 24,000 mark. Intraday resistance is around 24,150-24,170. Nifty has to break this resistance decisively in order to gain momentum. Such a break can take it higher towards 24,300-24,350 in the coming sessions.

Nifty has to decline below 24,000 to come under fresh selling pressure. If that happens, a fall to 23,900 can be seen. But looking at the price action in the early trades today, such a fall looks less likely.

Nifty 50 futures

The Nifty 50 June futures (24,140) is up 0.7 per cent. The contract has risen very well after making a low of 24,070 in early trades. Immediate support is at 24,100. Below that, 24,050 is the next key support.

Resistance is around 24,180. The bias is positive to break this resistance and see a rise to 24,350 in the coming sessions.

Failure to breach 24,180 and a fall below 24,100 can keep the contract vulnerable to break 24,050. Such a break can drag the contract down to 24,000 or 23,950.

Trade Strategy

Go long on a break above 24,180. Keep the stop-loss at 24,080. Trail the stop-loss up to 24,210 as soon as the contract goes up to 24,235. Revise the stop-loss higher to 24,245 when the contract touches 24,265. Exit the long positions at 24,285.

Supports: 24,100, 24,050

Resistances: 24,180, 24,350

Published on June 23, 2026