Nifty 50 has seen a strong rise in the early trades today. The index is trading at 23,800, up 0.45 per cent. The advances/declines ratio is at 36:14. This is positive.

Nifty 50 Outlook

The strong follow-through buying today after the sharp rise seen on Thursday strengthens the bullish case. If the momentum sustains, there are good chances for the Nifty to see 23,850-23,900 during the day. It will also keep the upside open to see 24,000 and higher levels next week.

Support is in the 23,700-23,670 region. Nifty has to fall below 23,670 to turn the near-term picture negative. If that happens, a fall to 23,550 can be seen thereafter.

Nifty 50 Futures

The Nifty 50 May Futures (23,800) is up 0.42 per cent. The contract is getting good support around 23,670. As long as it trades above this support, a rise to 23,900-23,950 is possible.

A fall to 23,600-23,580 will come into the picture only if the contract breaks below 23,670.

Trade Strategy

Traders can go long now at 23,800. Accumulate on dips at 23,740. Keep the stop-loss at 23,660. Trail the stop-loss up to 23,825 as soon as the contract goes up to 23,855. Revise the stop-loss higher to 23,860 and 23,905 when the contract touches 23,890 and 23,925 respectively. Exit the long positions at 23,940.

Supports: 23,670, 23,600

Resistances: 23,900, 23,950

Published on May 15, 2026