Nifty 50 is managing to hold higher after a strong bounce seen on Thursday. The index is currently trading at 24,247, up marginally by 0.06 per cent. The advances/declines ratio is at 23:27. The advances have to increase more in order to push the Nifty further higher. Else, there is a danger of seeing a fall during the day. We will have to wait and see.Nifty 50 OutlookNifty has good support at 24,200. As long as it stays above this support, the bias will remain positive. A rise to 24,320 is possible during the day in that case. The region around 24,320 is a strong resistance. A break above it today is less likely.In case the index declines below 24,200 from here, it can see 24,150 first. Failure to bounce back from around 24,200 will increase the danger of seeing 24,100-24,050 on the downside.Nifty 50 FuturesThe Nifty 50 August Futures (24,284) is marginally down by 0.05 per cent. The contract has a good support at 24,250 which is holding well for now. We expect the contract to sustain above this support during the day.A rise to 24,350, an important resistance, can be seen during the day. The bias is positive to breach 24,350 and rise to 24,450 and higher next week.Key support to watch is 24,220. The contract has to break this support to come under selling pressure. Only then, the downside will open up for a fall to 24,100 and lower.Trade StrategyTraders can go long now at 24,284 and 24,265. Keep the stop-loss at 24,240. Trail the stop-loss up to 24,295 as soon as the contract goes up to 24,310. Move the stop-loss higher to 24,315 when the contract touches 24,330. Exit the long positions at ₹24,345.Supports: 24,250, 24,220Resistances: 24,350, 24,450Published on August 21, 2026