Nifty 50 began today’s session with a gap-up at 23,830 versus yesterday’s close of 23,659. It moderated a little after opening and is currently hovering around 23,780, up 0.5 per cent so far today.The positive bias is substantiated by the breadth of Nifty 50 i.e., the advance/decline ratio of the benchmark index is now at 40/10. Grasim Industries, up 3.7 per cent, and Apollo Hospitals Enterprise, up 3.5 per cent, are the top gainers.At the other end of the spectrum, Tata Consumer Products, ONGC and Nestle India, down about 0.4 per cent each, are the top losers.Barring Nifty IT, which is trading flat at the moment, all other sectors in the index are in the green, indicating a broad-based buying. Nifty Cement, up 1.3 per cent, and Nifty Realty, up 1.2 per cent, are the top performers. This is closely followed by Nifty Metal and Nifty Healthcare, up 0.9 per cent each so far today.The above being said, will these factors help push Nifty futures above the upcoming resistance? Below is an analysis.Nifty 50 futuresThe May expiry Nifty futures opened today’s session higher at 23,815 versus yesterday’s close of 23,669. It is now trading at 23,800, up 0.5 per cent.Nifty futures is now trading at the upper boundary of the range of 23,350-23,800, within which it has been oscillating for over a week. If the contract can decisively move past the barrier at 23,800, we can expect the contract to see a good gain, possibly rallying to 24,100 in a couple of sessions.However, if the contract falls off the resistance at 23,800, it can retest the lower boundary of the range at 23,350. But there is an intermittent support at 23,600, which can help arrest the decline to some extent.Overall, there is a bullish inclination today. But ahead is the final hurdle at 23,800 for the bulls. So, traders need to tread cautiously at the current levels. Trading strategyWhile risk averse traders can wait for more clarity, participants with higher risk tolerance can short Nifty futures now at 23,800 since it is a resistance. Target and stop-loss can be 23,600 and 23,900 respectively.In case the above stop-loss at 23,900 is triggered, it could be an indication that the resistance at 23,800 is breached, which is a positive signal. In this event, traders with all risk profiles can go long. Target and stop-loss can be 24,100 and 23,780 respectively.Supports: 23,600 and 23,350Resistance: 23,800 and 24,100Published on May 21, 2026