Nifty 50 opened with a wide gap-down today and is trading lower. The index opened at 23,270.30 and has now come down to 23,257, down 0.94 per cent. Crude Oil price surging above $100 per barrel and a sharp rise in the US Treasury Yields are all weighing on the equity markets. The advances/declines ratio is at 10:40. This is very negative.Nifty 50 OutlookNifty has declined below an important support level of 23,400. The outlook is negative. Intraday resistance is around 23,300-23,330 which can cap the upside for the day. Nifty is in danger of seeing 23,000 on the downside in the coming days.The index has to rise above 23,400 in order to ease the downside pressure.Nifty 50 FuturesThe Nifty 50 September Futures (23,334) is down 0.64 per cent. Intraday support is at 23,280 which is holding for now. The contract touched a low of 23,300 and is attempting to bounce.Resistance is around 23,400. So, any bounce during the day can be capped at 23,400. We expect the contract to sustain below 23,400 and break 23,280 eventually. Such a break can take the Nifty 50 September Futures contract down to 23,100.Trade StrategyWe suggest traders to wait for a rise. Go short at 23,380. Keep the stop-loss at 23,420. Trail the stop-loss down to 23,355 as soon as the contract falls to 23,320. Revise the stop-loss lower to 23,290 and 23,220 when the contract touches 23,230 and 23,180 respectively. Exit the short positions at 23,140Please note that this will be a positional trader. So, those who cannot take the risk of carrying the trade over the weekend can stay out of the market.Supports: 23,280, 23,100Resistances: 23,400, 23,450Published on September 11, 2026