The Nifty 50 was trading marginally higher on August 21, 2026, managing to hold onto gains following a strong bounce on Thursday. The index was recorded at 24,247, up 0.06 per cent, with an advances-to-declines ratio standing at 23:27. Market analysts note that advances will need to increase further to drive the Nifty higher, otherwise running the risk of a downward movement during the trading session.
The index has established a support level at 24,200. As long as the Nifty stays above this threshold, the market bias is expected to remain positive, opening the possibility of a rise toward the 24,320 resistance level during the day. However, a break above 24,320 is considered less likely. Conversely, if the index declines below 24,200, it could test 24,150, with failure to bounce back risking further drops into the 24,100 to 24,050 range.
In the derivatives segment, Nifty 50 August Futures traded at 24,284, down marginally by 0.05 per cent. The contract's support level at 24,250 is holding steady, and the contract is expected to sustain above this mark. An upward movement toward the 24,350 resistance level is viewed as possible during the session. A breach of this resistance could pave the way for a rise to 24,450 and higher in the following week.
The key support level to monitor for the futures contract is 24,220. A break below this support would introduce selling pressure and open the downside for a fall to 24,100 and lower. Trading strategies suggest going long at 24,284 and 24,265, with an initial stop-loss set at 24,240, which can be trailed upward as the contract progresses toward higher price targets.
"Technical levels and support thresholds play a critical role in short-term market movements. For active traders, maintaining disciplined risk management, such as adhering to defined stop-loss limits around key support zones like 24,200, is essential to navigate intraday volatility safely." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
