The 26-year-old was dismissed in the 54th minute after a two-footed tackle on Wanderers striker Johan Elmander.
Newcastle boss Alan Pardew described the challenge as “over-zealous” but not malicious, and Nolan knows Taylor would never deliberately hurt anyone.
He told reporters: "Ryan being the honest lad he is, we know that he is never going to hurt or try to hurt anybody ever, and I felt for a fellow professional."
Nolan did however admit referee Chris Foy had little option in showing the former Wigan man the red card, but questioned Elmander’s reaction.
"Ryan's an honest lad,” said Nolan
“It was an honest tackle, as far as I am concerned.
"The boy went down like he had been shot, which is not nice because two minutes later, he got up and he was running around like a madman.
"That's what we don't like about it. But at the end of the day, it was two-footed and we have got no complaints."