Nifty 50 is managing to stay afloat after witnessing a sharp fall in the second half of trading on Tuesday. The index is currently trading at 24,612, up 0.13 per cent. The advances/declines ratio is at 32:18. This is positive for now. But if the trend reverses during the day, then the Nifty can fall again. We will have to wait and watch.
Nifty 50 Outlook
The resistance in the 24,750-24,800 region has held very well on Tuesday. Nifty is getting support around 24,500 for now. However, resistances are there at 24,630 and 24,680. A decisive break above 24,680 is needed to go back up into the 24,750-24,800 resistance zone. Also, a subsequent rise above 24,800 will only turn the outlook convincingly bullish for further rise.
So, as long as the index stays below 24,680, the bias will remain negative. A break below 24,500 can drag the index down to 24,400 and even lower.
Nifty Futures
The Nifty 50 September Futures (24,695) is trading flat. The contract has support in the 24,650-24,600 region. A break below 24,600 can drag the index down to 24,480 during the day.
On the other hand, cluster of resistances are there in the broad 24,780-24,860 region. A rise to test this resistance zone is possible if the Nifty 50 September Futures contract sustains above 24,650 during the day.
A decisive break above 24,860 is needed to boost the bullish momentum and take the contract to 25,000 and higher.
Trade Strategy
Traders can stay out of the market for now. However, fresh short positions can be taken once the Nifty 50 September Futures breaks below 24,600. Keep the stop-loss at 24,640. Trail the stop-loss down to 24,580 as soon as the contract falls to 24,560. Move the stop-loss further down to 24,555 when the contract touches 24,530. Exit the shorts at 24,510.
Supports: 24,600, 24,480
Resistances: 24,780, 24,860
Published on September 3, 2025
