Like the benchmark, mid- and small-cap indices are in the red. Indicating bearish bias, volatility has increased today – India VIX is up 2.2 per cent to 12.
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FRANCIS MASCARENHAS
Nifty 50 opened today’s session flat at 24,641 versus yesterday’s close of 24,650. It slipped after opening and is currently hovering around 24,600, down nearly 0.2 per cent.
The advance/decline ratio stands at 19/31, showing a bearish inclination. Trent (up 1.4 per cent) and Adani Ports (up 0.9 per cent) are the top performers.
On the other hand, Cipla, Wipro, HCL Technologies and Infosys, down 1.2 per cent each, are the top losers so far today.
Like the benchmark, mid- and small-cap indices are in the red. Indicating bearish bias, volatility has increased today – India VIX is up 2.2 per cent to 12.
Barring Nifty PSU Bank (up 0.15 per cent) and Nifty Private Bank, which is trading flat, all other sectoral indices are down. Nifty Pharma (down 1.3 per cent) and Nifty Healthcare index (down 1.1 per cent) are the top losers.
Nifty 50 futures
The August expiry Nifty futures opened today’s session flat at 24,708 and it is currently trading around the same price point.
The bias seems bearish and there is an intraday resistance at 24,730. On the back of this, the contract might decline. The nearest support points from the current level are at 24,600 and 24,550.
Note that the price band of 24,500-24,550 is a strong base and a decline below this level is less likely.
That said, in case Nifty futures rallies and breaks out of 24,730, the intraday trend can turn bullish. Consequently, the contract can rise to 25,000 and 25,200.
Trading strategy
Short Nifty futures (Aug) at the current level of 24,700. Target and stop-loss can be 24,550 and 24,750 respectively.
In case the above stop-loss is triggered, it could well be an indication that the intraday trend has turned bullish. In which case, consider going long with a stop-loss of 24,650 for a target of 25,000.
Supports: 24,600 and 24,550
Resistance: 24,730 and 25,000
Published on August 6, 2025
