Nifty 50 continues to remain under pressure. The index touched a high of 24,564 in the early trades and has come down giving back all the gains. It is currently trading at 24,471, down 0.11 per cent. The advances/declines ratio is at 19:31. This is negative.
Nifty 50 Outlook
Nifty has intraday resistances at 24,550 and 24,620. As long as it stays below these resistances the outlook will continue to remain bearish. There is room on the downside for a fall to 24,350-24,300 in the coming sessions.
A decisive rise above 24,620 is needed to ease the downside pressure. Only then a relief rally to 24,750 is possible. That looks less likely.
Nifty 50 Futures
The Nifty 50 September Futures (24,622) is down 0.1 per cent. The contract has strong resistance in the 24,750-24,800 region which can cap the upside. Immediate support is at 24,600. Below that 24,500-24,470 is the next important support zone. The Nifty 50 September Futures contract has to decline below 24,470 in order to come under more selling pressure. If that happens, 24,400 and even lower levels can be seen during the day.
On the other hand, a decisive break above 24,800 needed to take the contract up to 24,900 and higher which will give some relief.
For now, 24,470-24,800 looks likely to be the possible trading range for the day. A breakout on either side of this range will then decide the next leg of move.
Trade Strategy
Traders can wait for a rise to take fresh short positions. Go short at 24,720 and 24,770. Trail the stop-loss down to 24,690 as soon as the contract falls to 24,660. Keep the stop-loss at 24,830. Move the stop-loss further down to 24.640 and 24,580 when the contract falls to 24,610 and 24,540 respectively. Exit the short positions at 24,520.
Supports: 24,600, 24,470
Resistances: 24,750, 24,800
Published on August 29, 2025
