IT stocks appear to the flavour of the day.

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Nifty 50 began today’s session with a gap-down open at 24,539 versus yesterday’s close of 24,636. But the index moved up after opening and is now at 24,620.The advances/declines ratio of the Nifty 50 now stands at 25/25. TCS and Tech Mahindra, up 3 and 2.9 per cent respectively, are the top gainers, followed by HCL Technologies, up 2.3 per cent. So, broadly, IT stocks appear to the flavour of the day.On the other hand, Bajaj Finance and Bajaj Finserv, down 3.9 and 3.3 per cent, are the top losers among the Nifty 50 constituents. This is followed by Trent, down 2.5 per cent.With respect to sectors, Nifty IT tops the chart by advancing 2.2 per cent, whereas Nifty Financial Services ex-Bank is the weakest by losing 1.2 per cent so far today. Overall, Nifty 50, despite a gap-down open, is trading above a key support level, which is a positive sign. So, we might see a recovery which can also lift Nifty futures.Nifty 50 futuresThe August expiry Nifty futures began today’s session lower at 24,672 versus yesterday’s close of 24,739. It is now hovering around 24,700, down 0.15 per cent.The contract has a support at 24,650 and this level held well so far in arresting a decline, after a weaker opening. That said, Nifty futures ought to see an uptick from here and surpass the resistance at 24,750, to see another leg of rally.A breakout of 24,750 can lift Nifty futures to 25,000.However, if the contract slips below 24,650, it can extend the fall to 24,600 or even to 24,500. In case 24,500 is breached, the sell-off could intensify.Overall, for today’s session the trend depends on how far 24,650 can hold this is the pivot. Trading strategyBuy Nifty futures (Aug) if it breaks out of 24,750. Place initial stop-loss at 24,650. When the contract rises to 24,900, raise the stop-loss to 24,800. Book profits at 25,000.In case neither target nor stop-loss is hit before the end of the session, consider exiting before the session closes.Supports: 24,650 and 24,600Resistance: 24,750 and 24,800Published on August 7, 2026