Stories
Nifty Eyes 23,500 Target if It Breaks 23,100 Following Strong Bullish Rally
M
Moneycontrol•15-10-2026, 18:01
Nifty Eyes 23,500 Target if It Breaks 23,100 Following Strong Bullish Rally
- •Indian equities experienced a strong bullish session with Nifty closing up 374.65 points at 22,997.35.
- •Key sectors leading the gains included IT, Auto, Financial Services, Realty, and Pharma.
- •Analysts state that a decisive move above the 23,100 resistance could push the index towards 23,500.
- •Immediate support is expected around the 22,776-22,800 range, backed by bullish technical indicators like RSI and MACD.
Key Questions Answered
Analysts note that if the Nifty crosses the 23,100 resistance level, it could signal an extension of the current pullback towards 23,500.
The Nifty closed up 374.65 points at 22,997.35 after a strong bullish session on October 15, with IT, Auto, Financial Services, Realty, and Pharma leading as key gainers.
Shrikant Chouhan of Kotak Neo noted that market sentiment could turn negative if the index falls below the crucial 22,800/73,700 support level, prompting traders to consider exiting long positions.
