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Nifty 50 began today’s session flat at 24,472 versus Tuesday’s close of 24,471. It declined after opening and is now hovering around 24,360, down nearly 0.5 per cent.The advance/decline ratio stands at 10/40, showing a bearish bias. Hindalco Industries, down 3 per cent, and Grasim Industries, down 1.4 per cent, are the top gainers. On the other hand, Max Healthcare Institute, down 2.6 per cent, and Eternal, down 1.4 per cent, are the weakest stocks in Nifty 50.Among the sectors, barring Nifty PSU Bank (up about 2 per cent) and Nifty Metal (up 0.75 per cent), other sectors are in the red. Nifty Consumer Durables, Nifty FMCG and Nifty IT, down 0.9 per cent each, are the top losers.Overall, the above factors indicate that the bears are showing good strength today so far, leaving the chances of Nifty 50 and Nifty futures falling further high. Nifty 50 futuresThe August expiry Nifty futures began today’s session at 24,555 versus yesterday’s close of 24,541. It is now hovering around 24,450, down 0.35 per cent.Given the current downward momentum, Nifty futures is likely to extend the decline to 24,400. This is a notable support and the sell-off might cool, possibly leading to a flat trend if not a bullish reversal.In case Nifty futures rebound, it can see a quick uptick to 24,500. A breakout of this can lift it further to 24,600.Instead, if Nifty futures breaches the support at 24,400, we will most likely see it dropping to 24,200 or even to 24,000 over a few sessions.Overall, as it stands, Nifty futures can decline to 24,400 but whether there will be a recovery on the back of this is uncertain at the moment. Trading strategyWe suggested selling Nifty futures at 24,540 yesterday. Traders who hold this trade can retain. But revise the stop-loss from 24,620 to 24,540. Book profits at 24,400.For fresh trades, rather than initiating now, we suggest shorting only if Nifty futures inches up to 24,480 for a reasonable risk-reward ratio. Target and stop-loss can be 24,400 and 24,540.Supports: 24,400 and 24,200Resistance: 24,500 and 24,600Published on August 12, 2026
