Nifty 50 has opened the week with a wide gap-down and is trading lower. The index opened the day at 24,190 and is currently trading at 24,160, down 0.72 per cent. The advances/declines ratio is at 27:23. This will need a close watch during the day. If the trend shifts in favour of the advances, then Nifty can bounce back during the day.Nifty 50 OutlookNifty has come back into its 24,000-24,300 range again. Immediate support is at 24,130. A beak below it can drag the index down to 24,070 during the day.On the other hand, if the index manages to bounce back from 24,130 and goes above 24,200, then a rise to 24,300 can be seen.Overall, it is a mixed situation now. So, we may have to stay out and watch the market.Nifty 50 FuturesThe Nifty 50 July Futures (24,166) is down 0.64 per cent. A break below 24,140 can drag the contract down to 24,100-24,080, an important intraday support zone. A bounce from this support zone can take the contract up to 24,200-24,250 again.But if the contract breaks below 24,080, then an extended fall to 24,000 can be seen.Trade StrategyWe expect the 24,100-24,080 support to limit the downside during the day. So, traders can go long on dups at 24,110 and 24,090. Keep the stop-loss at 24,040. Trail the stop-loss up to 24,130 as soon as the contract goes up to 24,160. Revise the stop-loss higher to 24,165 and 24,190 when the contract touches 24,185 and 24,205 respectively. Exit the long positions at 24,220.Supports: 24,080, 24,000Resistances: 24,240, 24,300Published on July 20, 2026