Nifty 50 has opened the week with a wide gap-down and is trading lower. The index opened the day at 24,190 and is currently trading at 24,160, down 0.72 per cent. The advances/declines ratio is at 27:23. This will need a close watch during the day. If the trend shifts in favour of the advances, then Nifty can bounce back during the day.

Nifty has come back into its 24,000-24,300 range again. Immediate support is at 24,130. A beak below it can drag the index down to 24,070 during the day.

On the other hand, if the index manages to bounce back from 24,130 and goes above 24,200, then a rise to 24,300 can be seen.

Overall, it is a mixed situation now. So, we may have to stay out and watch the market.

The Nifty 50 July Futures (24,166) is down 0.64 per cent. A break below 24,140 can drag the contract down to 24,100-24,080, an important intraday support zone. A bounce from this support zone can take the contract up to 24,200-24,250 again.

But if the contract breaks below 24,080, then an extended fall to 24,000 can be seen.

We expect the 24,100-24,080 support to limit the downside during the day. So, traders can go long on dups at 24,110 and 24,090. Keep the stop-loss at 24,040. Trail the stop-loss up to 24,130 as soon as the contract goes up to 24,160. Revise the stop-loss higher to 24,165 and 24,190 when the contract touches 24,185 and 24,205 respectively. Exit the long positions at 24,220.

Supports: 24,080, 24,000

Resistances: 24,240, 24,300

Published on July 20, 2026