Nifty 50 is managing to hold higher after a volatile session on Thursday. The index is currently trading at 24,811, up 0.24 per cent. The advances/declines ratio is at 33:17. This is positive.
Nifty 50 Outlook
Support is at 24,700-24,650 region which is holding well for now. The bias is positive to see a rise to 24,900 and higher in the coming sessions.
Only a break below 24,650 will bring the index under pressure for a fall to 24,500 and lower. But that looks less likely.
Nifty 50 Futures
The Nifty 50 June Futures (24,870) is trading flat. Support is at 24,800-24,750. The contract is managing to sustain well above this support. As long as the contract stays above this support, the outlook is bullish to see a rise to 25,000 in the coming sessions.
In case contract declines below 24,750, it can fall to 24,650 and then bounce back again. A strong break below 24,650 is needed to increase the downside pressure and trigger more fall. But that looks less likely.
Trade Strategy
We expect the support at 24,750 to hold well. So, go long on dips at 24,820 and 24,780. Keep the stop-loss at 24,730. Trail the stop-loss up to 24,840 as soon as the contract goes up to 24,880. Move the stop-loss further up to 24,890 when the contract touches 24,930. Exit the longs at 24,970.
Supports: 24,750, 24,650
Resistances: 24,930, 25,000
Published on June 6, 2025
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