The September expiry Nifty futures opened the day lower at 24,000 versus yesterday’s close of 24,090. The contract is now trading at 23,980, down about 0.4 per cent so far today.
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Nifty 50 began today’s session with a gap-down at 23,858 versus yesterday’s close of 24,056. The index is now hovering around 23,850, down nearly 0.9 per cent. The advance/decline ratio stands at 6/44, showing a bearish bias. Coal India (up 3.7 per cent) is the top gainer followed by Adani Ports (up 0.9 per cent). Whereas Eicher Motors (up 4.3 per cent) and Bajaj Auto (down 3.1 per cent) are the top losers.All the sectors are in the red, showing a broad-based sell-off in today’s early trade. Nifty Auto (down 2.2 per cent) and Nifty Realty (down 1.9 per cent) are the weakest sectoral indices so far today.While the above factors are clear indications of a strong downtrend, the chart shows that Nifty 50 is now trading near a key support level. Hence, a rebound cannot be rejected. Likewise, Nifty futures, too, is at a support and a recovery is likely. Nifty 50 futuresThe September expiry Nifty futures opened the day lower at 24,000 versus yesterday’s close of 24,090. The contract is now trading at 23,980, down about 0.4 per cent so far today.The price band of 23,900-24,000 is a support for Nifty futures. Also, as mentioned above, the underlying Nifty 50 index is also trading above a strong base. So, we expect the September futures on Nifty 50 is see a bounce from the current level.The contract can rise to 24,200-24,250 price region, a potential resistance. A breakout of 24,250 can lift it to 24,300.However, if Nifty futures (Sep) slips below the support at 23,900, it can fall to 23,800 and subsequently to 23,600.Nevertheless, although there are bearish indications so far today, given that the support nearby is a substantial one, we anticipate a recovery on the back of this. So, traders can consider long positions. Trading strategyBuy Nifty futures (Sep) now at 23,980 and place stop-loss at 23,850. Book profits at 24,200.Supports: 23,900 and 23,800Resistance: 24,200 and 24,250Published on September 2, 2026
