Nifty 50 began the week on a flat note and is trading stable. The index has been oscillating between 24,700 and 24,800. It is currently trading at 24,731. The Israel-Iran conflict is continuing to weigh on the market sentiment. The advances/declines ratio is at 27:23. This give a mixed outlook.
Nifty 50 outlook
Intraday resistance for the Nifty (24,731) is at 24,850. The index has to breach this hurdle to go up go 24,950-25,000 again.
Support is around 24,650. A break below it can drag the index down to 24,500-24,450 again.
The level of 24,450 is a crucial support to watch. Nifty has to sustain above it to avoid a deeper fall to 24,200-24,000.
Nifty 50 futures
The Nifty 50 June futures (24,812) is up marginally by 0.3 per cent. The contract has good intraday support at 24,750. As long as the contract stays above this support, the chances are high for it to go up to 25,000-25,100 in the coming sessions. Intermediate resistance is around 24,920. A break above it can clear the way for the above-mentioned rise.
The contract will come under pressure for more fall only if it declines below 24,750. If that happens, we can see a fall to 24,680 and even 24,550.
Trade strategy
Traders can go long now at 24,812 and accumulate on dips at 24,780. Keep the stop-loss at 24,730. Trail the stop-loss up to 24,835 as soon as the contract goes up to 24,870. Move the stop-loss further up to 24,880 and 24,920 when the contract touches 24,910 and 24,950 respectively. Exit the longs at 24,980.
Supports: 24,750, 24,680
Resistances: 24,920, 25,000
Published on June 16, 2025
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