Nifty 50 began today’s session with a gap-up at 24,278 versus Wednesday’s close of 24,208. The index is now hovering around 24,180, down about 0.1 per cent.The advance/decline stands at 22/28, showing a bearish bias. Kotak Mahindra Bank (up 2.3 per cent) and Adani Enterprises (up 1.1 per cent) are the top gainers. Shriram Finance (down 1.4 per cent) and NTPC (down 1.2 per cent) are the top losers. Among the sectors, Nifty Private Bank (up 0.5 per cent) tops the chart. On the other hand, Nifty Media, Nifty FMCG and Nifty Auto, down 0.5 per cent each, are the top losers.The chart of Nifty 50 shows that the trend has been flat in the recent sessions. Thus, there is a lack of clarity in the index and in Nifty futures. Nifty 50 futuresThe September expiry Nifty futures opened the day lower at 24,400 versus yesterday’s close of 24,429. The contract is now trading at 24,340, down nearly 0.4 per cent.The chart shows that Nifty futures has been trading within 24,250 and 24,500. Only a clear breach of either of these levels will lead to a fresh leg of trend.A breakout of 24,500 can trigger a rally to 24,700. On the other hand, if the contract breaches the support at 24,250, we can witness a decline to 24,000.That said, given the prevailing price action, the likelihood for an intraday fall is high.Trading strategyShort Nifty futures (Sep) at 24,360 and place a stop-loss at 24,420. Target can be 24,250. Supports: 24,250 and 24,150Resistance: 24,350 and 24,500Published on August 27, 2026