Nifty 50 Outlook: Strong Bullish Sentiment Continues Amid Positive Trend

Nifty 50 has opened the week with a wide gap-up and is trading higher, with a strong bullish sentiment prevailing in the market.

Nifty 50 Outlook: Bullish Sentiment Continues

The Nifty 50 index has opened the day at 24,572 and is currently trading at 24,567, up 0.75 per cent, indicating a positive trend.

The advances/declines ratio is at 41:9, which is a positive sign, indicating that more stocks are moving higher than lower.

Key Resistance Levels

Nifty 50 has resistance near current levels, and a strong rise above 24,600 is needed to gain momentum and rise further higher.

Nifty 50 Futures: Trading Higher

• The Nifty 50 August Futures (24,655) is up 0.83 per cent, indicating a bullish trend.
• The contract can rise to 24,720 from here, but failure to break this level can drag the contract down to 24,600-24,550 again.
• A decisive break above 24,720 can trigger a fresh rise to 25,000 this week.

Trade Strategy

Although the bias is positive, the risk/reward ratio is not favouring taking a fresh long position immediately.

However, dips can be bought, and positional trades look good at the moment.

Traders can wait for dips and go long at 24,620 and 24,570, with a stop-loss at 24,470.

Trail the stop-loss up to 24,660 as soon as the contract goes up to 24,740, and revise the stop-loss higher to 24,740 and 24,860 when the contract touches 24,820 and 24,910 respectively.

Exit the long positions at 24,940, and the time frame of this trade will be one week.

Key Takeaways

• The Nifty 50 index is trading higher, with a strong bullish sentiment prevailing in the market.
• The Nifty 50 August Futures is up 0.83 per cent, indicating a bullish trend.
• Traders can wait for dips and go long at 24,620 and 24,570, with a stop-loss at 24,470.

FAQs

What is the current trend of the Nifty 50 index?

The Nifty 50 index is trading higher, with a strong bullish sentiment prevailing in the market.

What is the resistance level for the Nifty 50 index?

Nifty 50 has resistance near current levels, and a strong rise above 24,600 is needed to gain momentum and rise further higher.

What is the trade strategy for the Nifty 50 August Futures?

Traders can wait for dips and go long at 24,620 and 24,570, with a stop-loss at 24,470.

Conclusion

The Nifty 50 index is trading higher, with a strong bullish sentiment prevailing in the market.

Traders can wait for dips and go long at 24,620 and 24,570, with a stop-loss at 24,470.

Positional traders can consider this trade, with a time frame of one week.

Supports: 24,550, 24,450

Resistances: 24,720, 25,000

Published on August 3, 2026