Nifty 50 opened today’s session with a gap-down at 24,464 versus yesterday’s close of 24,574. But it slightly recovered after opening and is currently hovering around 24,500, down about 0.3 per cent.
The advance/decline ratio stands at 12/38, showing a bearish inclination. Hero MotoCorp (up 1.6 per cent) and Trent (up 0.8 per cent) are the top performers.
On the other hand, Eternal (down 1.6 per cent) followed by Tata Motors (down 1.5 per cent) are the top losers.
Among the sectors, Nifty Media (up 1.4 per cent) and Nifty Pharma (up 0.25 per cent) are the top gainers whereas Nifty Metal (down nearly 0.5 per cent) and Nifty Private Bank (down 0.4 per cent) are the top losers.
Nifty 50 futures
The August expiry Nifty futures opened today’s session lower at 24,540 versus yesterday’s close of 24,635. It is currently trading at 24,580, down 0.25 per cent.
Although the trend has been bearish in the recent weeks and the contract opened on the back foot today, the price band of 24,500-24,550 is a strong support.
In case Nifty futures rebound on the back of these levels, it will face a resistance near-by at 24,625. A breakout of this can turn the intraday outlook bullish where the contract can rally to 24,730 and 24,800.
On the other hand, if Nifty futures slip below 24,500, it can trigger another leg of a decline, potentially dragging the contract to 24,200.
Overall, from a trading perspective, participants can wait for the breach of either 24,625 or 24,500 before punching fresh trades.
Trading strategy
Buy Nifty futures (Aug) if it breaks out of 24,625. Target and stop-loss can be 24,730 and 24,575 respectively.
But if Nifty futures (Aug) breaks below the support at 24,500, go short with a stop-loss at 24,630. Book profits at 24,200.
Supports: 24,500 and 24,200
Resistance: 24,625 and 24,730
Published on August 7, 2025
