Nifty 50 opened today’s session higher at 23,065 against Thursday’s close of 22,997. It is now hovering around 23,060, up 0.3 per cent.

The advance/decline ratio stands at 20/30, showing a bearish bias. Tech Mahindra (up 6.6 per cent) and Infosys (up 3.8 per cent) are the top gainers. Whereas BSE (down 2.5 per cent) and HDFC Life (down 2.3 per cent) are the top losers.

Among the sectors, Nifty IT (up 2.8 per cent) tops the chart followed by Nifty Media (up 1.8 per cent). On the other hand, Nifty Midsmall Financial Service (down 0.9 per cent) and Nifty Oil & Gas (down 0.8 per cent) are the weakest sectors so far today.

Nifty (Oct) futures opened today’s session higher at 23,058 against yesterday’s close of 22,985. It is now trading at 23,080, up about 0.4 per cent.

The contract is holding well above the support at 22,850 and also an important level of 23,000. The price action shows that the bulls are gaining good traction and further rally is highly likely.

From the current level, the October futures can rally to 23,300, a resistance. Subsequent barrier is at 23,400.

On the other hand, if there is a decline from the current level of 23,080, the contract can find support at 23,000 and 22,850. So long as the latter holds true, the bias will be bullish. 

Buy Nifty (Oct) futures now at 23,080. Target and stop-loss can be 23,300 and 22,950 respectively.

Supports: 23,000 and 22,850

Resistance: 23,300 and 23,400

Published on October 16, 2026