Nifty 50 began today’s session with a gap-up at 23,898 versus yesterday’s close of 23,866. The index gained further after opening and is now hovering around 24,000, up nearly 0.6 per cent at the end of the first hour of today’s trade.The advance/decline ratio of Nifty 50 currently stands at 35/15, showing a bullish bias. Mahindra & Mahindra, up 3 per cent, is the top gainer followed by Nestle India, up 2.75 per cent.Tech Mahindra, down about 2 per cent, is the top loser followed by HCL Technologies, down 1 per cent.Among the sectors, Nifty Media, up 3.3 per cent, tops the chart followed by Nifty FMCG, up 1.7 per cent. Whereas Nifty Midsmall IT & Telecom is the weakest by losing 0.9 per cent followed by Nifty Midsmall Healthcare, down 0.6 per cent. Overall, the breadth of the index and the chart shows a bullish bias. Below is an analysis of Nifty futures.Nifty 50 futuresThe July expiry Nifty futures began today’s session at 23,995 versus Tuesday’s close of 24,009. It rose after opening and is now trading at 24,120, up 0.5 per cent.While the contract declined on Monday and Tuesday, it remained above the support at 23,950-24,000. Today, on the back of this, Nifty futures (Jul) has rebounded.The chart indicates that 24,150 is a potential intraday resistance. A breakout of this can add more momentum to the upswing. In this case, Nifty futures can rally to 24,250 and subsequently to 24,350 before the end of this week. However, if the contract fails to breakout and falls below 23,950, it could see a deeper decline, potentially to 23,800.Overall, the bias is bullish but the resistance at 24,150 is a roadblock that the bulls are currently facing. So, traders can wait to see how Nifty futures react to this and then initiate fresh trades.Trading strategyIf Nifty futures (Jul) breaks out of 24,150, go long with a stop-loss at 24,040. Bok profits at 24,350.Consider carrying this trade until the end of this week if neither target nor stop-loss is triggered.Supports: 23,950 and 23,800Resistance: 24,250 and 24,350Published on July 1, 2026