Nifty 50 opened with a wide gap-down at 23,101.05. The strong downward reversal from the high of 23,425 on Wednesday followed by the gap-down open today indicates that the market is still lacking fresh buyers.Nifty made a low of 23,072.05 in the early trades and has bounced back recovering some of the loss. It is currently trading at 23,145, down 0.3 per cent. The advances/declines ratio is at 15:35. This is negative.Nifty 50 OutlookIntraday resistance is in the 23,200-23,230 region. Failure to breach this resistance zone can drag the Nifty down to 23,100 and even 23,000 in the coming sessions.Nifty has to get a decisive rise above 23,230 to ease the downside pressure. Only then the upside will open up for a rise to 23,300 and higher levels.Our preference is to see the Nifty declining to 23,100-23,000 first.Nifty 50 FuturesThe Nifty 50 June Futures (23,164) is down 0.33 per cent. The contract has risen back well from the intraday low of 23,105. Resistance is in the 23,200-23,230 region. We expect the contract to remain below this resistance zone and reverse lower again during the day.That reversal can drag the Nifty 50 June Futures contract down to 23,000 in the coming sessions.A decisive break above 23,230 is needed to go up to 23,350-23,400. Only then the chances of the fall to 23,000 will get negated.Trade StrategyTraders can go short on a rise to 23,190 and 23,210. Keep the stop-loss at 23,270. Trail the stop-loss down to 23,165 as soon as the contract falls to 23,140. Revise the stop-loss lower to 23,130 and 23,070 when the contract touches 23,090 and 23,050 respectively. Exit the short positions at 23,030.Supports: 23,100, 23,000Resistances: 23,230, 23,350Published on June 11, 2026