Sensex today | Stock Market Live, May 22: Markets trade firm; Nifty nears key resistance zone of 23,800

Indian equity markets traded firm on Friday after a flat opening, supported by positive global cues and falling crude oil prices, while analysts continued to see a consolidation phase with range-bound technical indicators and investors favouring selective stock-specific opportunities. At 10:54 am, the Sensex was up 465.18 points, or 0.62 per cent, at 75,648.54, while the Nifty gained 129.85 points, or 0.55 per cent, to 23,784.55. Analysts said the broader market structure remains cautious, with investors preferring selective stock-specific opportunities over aggressive bullish positioning amid volatility in oil prices, currency movements and global liquidity conditions. Derivatives data indicates a neutral-to-range-bound outlook, with the Put-Call Ratio near 0.94 reflecting balanced positioning between put and call writers. Strong call writing has emerged in the 23,800–24,000 zone, establishing a key resistance band, while put writers continue defending the 23,500–23,300 range, indicating immediate downside support. A decisive move above 23,800 could trigger short covering, while weakness below support may increase volatility in coming sessions. Top technical indicators for today's trade * Nifty 50 trading at 23,775, up 0.5 per cent * Nifty futures trading at 23,780, up 0.7 per cent * Key resistance level: 23,800 * Immediate upside target: 24,100 * Stronger downside support: 23,350 * Advance/decline ratio at 38/12, indicating positive market breadth * Suggested trading range: 23,600–24,100 * Trading strategy bias: Positive above 23,800 breakout level * Immediate support: 23,600