Nifty 50 is trading lower. The index has been coming down after witnessing a strong surge on Monday this week. However, the pace of fall is slow. That keeps the broader bias positive. Nifty is currently trading at 24,555, down 0.44 per cent. The advances/declines ratio is at 9:41. This is negative. If this trend sustains, then more fall could be on the cards during the day.

Nifty 50 outlook

The immediate outlook is slightly weak. However, there is a good support for the Nifty in the 24,500-24,450 region. We expect the Nifty to sustain above this support zone and bounce back again. Such a bounce can take the Nifty up to 24,600-24,700 again.

Nifty will come under more selling pressure only if it declines below 24,450. If that happens, a further fall to 24,400 or even 24,250 is possible.

Nifty 50 futures

The Nifty 50 May Futures (24,635) is down 0.31 per cent.  Support is in the 24,600-24,550 region which can be tested during the day. We can expect the Nifty 50 Futures to rise back from the 24,600-24,550 region. That bounce can take the Nifty 50 May Futures contract up to 24,800-24,850 again.

Broadly, 24,550-24,850 can be trading range for the Nifty 50 May Futures contract.  The overall bias is positive. So, eventually we can expect the contract to break the range on the upside above 24,850 and rise in the coming days.

Trade strategy

Since the market seems to be broadly range bound, we suggest traders to stay out of the market today.

Supports: 24,600, 24,550

Resistances: 24,750, 24,850

Published on May 15, 2025