Nifty Prediction for 15 May, 2026: After a high-octane comeback on Thursday, the Indian equity markets are likely to witness a volatile trading session on Friday, May 15, as investors assess whether the recovery in the NSE Nifty50 can sustain above crucial resistance levels amid elevated crude oil prices, foreign fund outflows and geopolitical tensions in West Asia.
Technical analysts suggest that the “Morning Doji Star” formation on the daily charts has signalled a potential short-term trend reversal, placing the Nifty 50 at a critical crossroads for the final trading day of the week.
Nifty50 Prediction for Friday, May 15 by experts
Market experts believe Friday’s session could be crucial for confirming whether the market has formed a near-term bottom after recent heavy selling pressure.
Nifty50 Prediction for Friday, May 15 by Nagaraj Shetti
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “After showing lower levels recovery with high volatility on Wednesday, Nifty witnessed an excellent comeback on Thursday and closed the day higher by 277 points. After opening on a positive note, the market showed choppy movement in the early part of the session. Sharp intraday buying has emerged after 11am and the upside continued for rest of the session.”
He further said a long bull candle was formed on the daily chart, which indicates short term reversal in the market on upside.
“Nifty is now placed at the crucial hurdle of 23800 (previous swing lows as per the concept of change in polarity) and a sustainable move above this hurdle could open more upside towards 24500 levels in the near term. Immediate supports to be watched around 23500 levels,” Shetti added.
Nifty50 Prediction for Friday, May 15 by Sachin Gupta
Sachin Gupta, VP – Research, Technical Research, at Choice Broking Private Limited, said, “Indian equity benchmark Nifty index witnessed a Positive close on 14th May 2026. The index opened with a strong gap-up of 117.65 points at 23,530.25, reflecting positive sentiment at the start of the session. However, the index witnessed some selling pressure in the initial few minutes, registering its intraday low of 23,426.55. Thereafter, strong buying interest emerged, helping the index recover sharply and climb steadily towards its intraday high of 23,777.20. The index eventually settled at 23,689.60, gaining 277 points or 1.18% for the session.”
On the daily timeframe, Gupta said Nifty formed a Morning Doji Star candlestick pattern, which is generally considered a bullish reversal formation. “This indicates that buying interest has emerged from lower levels and suggests a possibility of further recovery if the index sustains above crucial resistance levels,” he said.
From a technical perspective, Gupta said the immediate support is placed in the 23,450–23,500 zone, while resistance is seen in the 23,900–23,950 range. “The Relative Strength Index (RSI) stands at 45.86, indicating improving momentum though it still remains below the stronger bullish zone. The volatility index, India VIX, declined by 4.18% to 18.61, indicating easing volatility and improving market confidence. In the derivatives segment, notable call writing was observed at the 23,800 and 23,700 strikes, while put writing was concentrated at the 23,500 and 23,600 strikes, indicating a broader recovery sentiment with support shifting higher,” the analyst stated.
Sectorally, buying interest was visible across several sectors including Pharma, Healthcare, Metal, Financial Services, PSU Banks, and Private Banks, while selective weakness persisted in the IT space. Market breadth improved considerably with advancing stocks outnumbering declining stocks, indicating broader market participation in the recovery, Gupta added.
- 20 Day EMA – 23,903.96
- 50 Day EMA – 24,098.80
- 100 Day EMA – 24,481.22
- 200 Day EMA – 24,690.95
“The Bank Nifty index opened with a gap-up of 183.35 points at 53,639.50, indicating positive sentiment in the banking space. After opening, the index witnessed mild selling pressure in the early part of the session and registered its intraday low of 53,191.60. However, strong buying interest emerged thereafter, especially during the latter half of the session, pushing the index sharply higher towards its intraday high of 54,393.75. The index eventually settled at 54,128.95, gaining 672.80 points or 1.26%. On the daily timeframe, Bank Nifty formed a Morning Doji Star candlestick pattern, indicating a potential bullish reversal from lower levels. The formation suggests that buyers are attempting to regain control after the recent corrective phase,” Gupta said.
“From a technical perspective, immediate support is placed in the 53,400–53,500 zone, while resistance is observed in the 54,700–54,800 range. The Relative Strength Index (RSI) stands at 43.79, indicating recovery in momentum though the index still trades below the stronger bullish threshold. Indian equity markets witnessed a strong recovery session after recent weakness, supported by broad-based buying across key sectors. Both Nifty and Bank Nifty formed bullish reversal candlestick formations on the daily timeframe, indicating improving sentiment at lower levels. The decline in India VIX along with improved market breadth further supported the positive undertone in the market. Going forward, sustained movement above immediate resistance levels will be crucial for confirming further upside momentum,” Gupta concluded.
Sectoral indices on Thursday, May 14
Nifty Pharma was the top gainer, rising 2.74 per cent, followed by the Nifty Healthcare Index, which advanced 2.56 per cent. The Nifty Metal index also climbed 2.04 per cent while the Nifty Auto index rose 0.71 per cent.
Banking counters also moved higher, with the Nifty PSU Bank index rising 1.37 per cent and the Nifty Private Bank index gaining 1.16 per cent.
Meanwhile, crude oil prices continued to remain elevated amid ongoing geopolitical concerns. Brent crude was trading at USD 105 per barrel at the time of filing this report.
In the commodity market, gold prices continued their upward movement. Gold prices for 24 karat reached Rs 1,62,250 per 10 grams on Thursday. Silver prices, however, declined by 1 per cent to Rs 2,97,002 per kilogram.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
