Nifty 50 has come down sharply in the early trades. The index made a high of 24,035 in the early trades but failed to sustain. It has come down sharply from there and is currently trading at 24,856, down 0.38 per cent. The advances/declines ratio is at 22:28. This is negative.Nifty 50 OutlookThe resistance at 24,045 has held very well. Nifty can fall to 23,800-23,770 during the day. The price action thereafter will need a close watch.Failure to bounce back from around 23,770 can drag the Nifty further lower to 23,700. On the other hand, a bounce from the 23,800-23,770 support zone can trigger a relief rise to 23,900 and even 24,000 again.We will have to wait and watch.Nifty 50 FuturesThe Nifty 50 June Futures (23,880) is down 0.37 per cent. An immediate support is around 23,840. A break below it can drag the Nifty 50 June Futures contract down to 23,750 during the day.But, if the contract manages to bounce back from around 23,840, then a corrective rise to 23,950 is possible. The region around 23,950 is a strong resistance which can cap the upside for the day.Trade StatisticsTraders can wait for a rise and go short at 23,910 and 23,930. Keep the stop-loss at 23,980. Trail the stop-loss down to 23,890 as soon as the contract falls to 23,860. Revise the stop-loss lower to 23,865 and 23,825 when the contract comes down to 23,840 and 23,800 respectively. Exit the shorts at 23,780.Supports: 23,840, 23,750Resistances: 23,950, 24,020Published on June 30, 2026