Nifty 50 has begun the week on a stable note and is managing to stay afloat. The index is currently trading at 24,625, up 0.24 per cent. The advances/declines ratio is at 34:16. This is positive. If this trend sustains, then Nifty can rise more during the day.
Nifty 50 Outlook
Nifty has risen back well from the intraday low of 24,554. Intraday support is at 24,580. If the index manages to sustain above this support, a rise to 24,750 and even higher levels is possible during the day.
On the other hand, a break below 24,580 can take the index down to 24,530 – the next important intraday support. Nifty will come under more selling pressure only if it breaks below 24,530. Such a break can drag the index down to 24,450.
Nifty 50 Futures
The Nifty 50 August Futures (24,710) is up 0.34 per cent. The support at 24,600 is holding very well. The contract can test the intraday resistance at 24,780. A decisive break above it can take the contract up to 24,850-24,900 in the coming sessions.
The Nifty 50 August Futures contract has to decline below 24,600 to come under renewed pressure again. If that happens, the contract can fall to 24,500 and even lower.
On the charts, the bias is positive. So, we can expect the contract to sustain above 24,600 and rise towards 24,850-24,900.
Trade Strategy
A positional trader which can be held for a couple of days can be considered now instead on an intraday one.
Traders can go long now at 24,710 and accumulate on dips at 24,630. Keep the stop-loss at 24,570. Trail the stop-loss up to 24,740 as soon as the contract goes up to 24,780. Move the stop-loss further up to 24,770 and 24,810 when the contract touches 24,800 and 24,840 respectively. Exit the long positions at 24,880.
Supports: 24,600, 24,500
Resistances: 24,780, 24,850
Published on August 4, 2025
