Nifty 50 is struggling to rise back. At the same time, there is lack of strong selling pressure also. The support at 24,130 mentioned yesterday is holding well. That keeps the bias positive. Nifty is currently trading flat at 24,235. It has to gain momentum in order to go higher from here. The advances/declines ratio is at 27:23. The number of advances have to increase well to push the index higher.

Cluster of supports are there in the broad 24,200-24,100 region. The bias is positive to see a rise to 24,300-24,320 initially and then to 24,380-24,400 eventually in the coming sessions.

Nifty has to decline below 24,100 to turn the near-term outlook negative. Only then a fall to 24,000 or even 23,850 will come into the picture.

The Nifty 50 July Futures (24,230) is down 0.1 per cent. The contract is facing resistance around 24,280. Intraday dip to 24,150-24,130 is possible if the contract declines below 24,200 from here.

A decisive break above 24,280 is needed to gain momentum. Such a break can take the Nifty 50 July Futures contract higher to 24,400 in the coming sessions.

The contract has to decline below 24,130 to become negative. If that happens, a fall to 24,050-24,000 is possible.

Traders have to wait for some time now. Go long once the contract breaks out above 24,280. Keep the stop-loss at 24,240. Trail the stop-loss up to 24,305 as soon as the contract goes up to 24,330. Revise the stop-loss higher to 24,335 and 24,365 when the contract touches 24,355 and 24,380 respectively. Exit the long positions at 24,400.

Supports: 24,130, 24,040

Resistances: 24,280, 24,400

Published on July 21, 2026