Since the IT stocks are drawing good buying interest so far today, Nifty IT, up 3 per cent, is the best performing sector. Whereas Nifty Cement, down 0.8 per cent, is the top loser.
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Nifty 50 began today’s session higher at 24,123 compared to Thursday’s close of 24,091. The index advanced further after opening and is now hovering around 24,150, up 0.25 per cent so far today.The advance/decline ratio now stands at 26/24. TCS and HCL Technologies, up 3.5 per cent each, are the top gainers. This is followed by Tech Mahindra and Infosys, up 2.7 per cent each. Therefore, IT stocks are in focus today.On the other hand, UltraTech Cement, down 1.4 per cent, is the top loser followed by Shriram Finance, down 0.7 per cent.Since the IT stocks are drawing good buying interest so far today, Nifty IT, up 3 per cent, is the best performing sector. Whereas Nifty Cement, down 0.8 per cent, is the top loser. The chart shows that Nifty 50 is now hovering near a support where trendline coincides. Thus, there is a good chance for a rally in the index and consequently, Nifty futures can see an uptick today.Nifty 50 futuresThe September expiry Nifty futures opened the day at 24,293 versus yesterday’s close of 24,282. The contract is now trading at 24,320, up nearly 0.2 per cent.The contract is now trading near the lower end of the 24,250-24,500 range. Thus, the likelihood of an intraday rally is high. A recovery from the current level of 24,320 can lift Nifty futures to 24,430 today. A breakout of this can lift it further to 24,500.Instead, if the contract breaches the support at 24,250, we are likely to see a quick downswing to 24,120. The fall might extend to 24,000.Trading strategyBuy Nifty futures (Sep) now at 24,320 and place a stop-loss at 24,240. Book profits at 24,430. Supports: 24,250 and 24,120Resistance: 24,430 and 24,500Published on August 28, 2026
