Nifty 50 opened today’s session marginally lower at 24,563 versus yesterday’s close of 24,585. However, it has been rallying since opening and is now hovering around 24,690, up 0.4 per cent.
The advance/decline ratio stands at 37/13, a bullish indication. Titan Company (up 1.8 per cent) followed by Tech Mahindra (up 1.75 per cent) are the top gainers.
At the other end of the spectrum, Eternal (down 1.1 per cent) is the top loser followed by Hindalco Industries (down 0.8 per cent).
Among sectoral indices, barring Nifty Realty (down about 0.5 per cent), all others are in the green. Nifty IT, up 1.4 per cent, is the top gainer. This is followed by Nifty Media, up 1.1 per cent.
Overall, the inclination is bullish and therefore, the intraday rally can sustain.
Nifty 50 futures
The August expiry Nifty futures opened today’s session lower at 24,605 versus yesterday’s close of 24,628. It recovered after opening and is currently trading at 24,750, up 0.5 per cent.
Despite the rally so far today, the broader bear trend is intact. Nevertheless, there is a chance for the current upswing to extend to 24,800 and 24,900. Post this, Nifty futures can resume the downtrend.
On the other hand, if the contract starts falling from the current level of 24,750, it can touch 24,500 and 24,420. A breach of the latter can drag Nifty futures to 24,200.
Broadly, we expect the contract to gain further from the current level of 24,750, probably to 24,800 or 24,900. After this, it can decline.
Trading strategy
For intraday, traders can buy Nifty futures (Aug) at 24,750 and 24,680. Place stop-loss at 24,600. When the contract rises to 24,820, tighten the stop-loss to 24,750. Book profits at 24,900.
Supports: 24,660 and 24,500
Resistance: 24,800 and 24,900
Published on August 12, 2025
