Nifty 50 continues to trade under pressure after the sharp intraday fall seen on Wednesday. It fell to a low of 22,554 in the early trades and has managed to recover slightly from there. The index is currently trading at 22,670, down 0.61 per cent. The advances/declines ratio is at 6:44. This is negative.

The bounce from the intraday low of 22,554 has happened from just above an important support level of 22,530. Need to see if this bounce sustains. A follow-through rise from here can take the index up to 22,810-22,830 during the day. A decisive break above 22,830 is needed to ease the downside pressure and go further up to 22,950-23,000.

The region between 22,530 and 22,500 is a good support zone. A break below 22,500 can increase the downside pressure. Such a break can then drag the index down to 22,420-22,400.

The Nifty 50 October Futures (22,730) has recovered almost all the loss after making a low of 22,550 in the early trades. A key resistance is at 22,790. A decisive break above it can take the contract higher to 22,920 and even higher in the coming sessions.

Failure to breach 22,790 can drag the index down to 22,500 during the day.

The price action around 22,790 will need a close watch today.

Traders can go long on a break above 22,790. Keep the stop-loss at 22,760. Trail the stop-loss up to 22,810 as soon as the contract goes up to 22,830. Revise the stop-loss higher to 22,835 and 22,850 when the contract touches 22,855 and 22,870 respectively. Exit the long positions at 22,880.

Supports: 22,550, 22,500

Resistances: 22,790, 22,920

Published on October 22, 2026