Nifty 50 began today’s session flat at 24,432 versus Wednesday’s close of 24,436. The index moderated after opening and is now trading at 24,350, down 0.3 per cent.The advance/decline ratio stands at 17/33, giving it a bearish bias. Tata Motors Passenger Vehicles (TPMV) (up 1.7 per cent) and Shriram Finance (up 1.5 per cent) are the top gainers. On the other hand, UltraTech Cement (down 2.4 per cent) and Hindalco Industries (down 2.2 per cent) are the top losers.Among the sectoral indices, Nifty Media, up 1.3 per cent, is the top gainer whereas Nifty Cement, down 1 per cent, is the top loser.Overall, there is a bearish bias. However, the chart shows that Nifty 50 and Nifty futures are hovering near a notable support level. Nifty 50 futuresThe August expiry Nifty futures began today’s session at 24,461 versus yesterday’s close of 24,471. It is now hovering around 24,430, down 0.2 per cent.The chart shows that the contract has a support at 24,400. Also, its 21-day moving average lies at 24,370 thereby making the price region of 24,370-24,400 a support band.On the back of this, there is a good chance for Nifty futures to rebound, possibly rising to 24,600. A breakout of 24,600 can lift it further to 24,800.However, if the contract breaches the support at 24,370, it can add considerable strength to the bears. Consequently, the sell-off can intensify where Nifty futures can fall to 24,200 and subsequently to 24,000.Nevertheless, so long as the support at 24,370 holds, bulls will have a good chance to gain ground. Trading strategyBuy Nifty futures (Aug) now at 24,430. Place stop-loss at 24,350. When the contract rallies to 24,550, raise the stop-loss to 24,500. Book profits at 24,600.Supports: 24,400 and 24,200Resistance: 24,600 and 24,800Published on August 13, 2026