Nifty 50 is trading higher. It has got a good follow-through buying after witnessing a sharp rise on Tuesday. Nifty is now trading at 24,368, up 0.14 per cent. The advances/declines ratio is at 22:28. This will need a close watch. The trend has to shift largely in favour of the advances for Nifty to sustain the early rise.Nifty 50 outlookA crucial intraday resistance is around 24,400. Nifty has to breach this hurdle decisively in order to go further higher. If such a break happens, then an extended rise to 24,550-24,600 in this week.On the other hand, failure to break above 24,400 and a downward reversal thereafter can drag the index down to 24,350-24,300 or even lower.The price action around 24,400 during the day will need a close watch.Nifty 50 futuresThe Nifty 50 September futures is currently trading at 24,552. Support is at 24,480. Resistance is at 24,600. A strong break above 24,600 is needed for the contract to go further higher towards 24,720.In case the resistance at 24,600 caps the upside for now, then a dip to 24,500-24,480 can be seen. However, the near-term picture will turn negative only if the contract breaks below 24,480. Only then the downside will open for a fall to 24,400 or 24,350.Trade strategyFor now, traders can stay out. Long positions can be taken either on a break above 24,600 or on dips at 24,500.Supports: 24,520, 24,480Resistances: 24,600, 24,720Published on August 26, 2026