Nifty Prediction Today – July 15, 2026: Nifty 50 Futures: Range bound. Wait for a breakout to go long

Nifty 50 is managing to hold well above the psychological 24,000 mark in spite of the volatility this week. The index has risen back well today and is trading at 24,187, up 0.56 per cent. The advances/declines ratio is at 33:17. This is positive.

Nifty seems to be stuck between 24,000 and 24,260 over the last few days. A key resistance is at 24,270. So, a slightly wider range of trade can be 24,000-24,270. Within that, the index is moving up now. We need to wait for a breakout on either side of 24,000-24,270 to get clarity on the next leg of move.

A break above 24,270 will be bullish. It can then take the index higher to 24,350. On the other hand, a break below 24,000 can drag the Nifty down to 23,900-23,800 thereafter.

Our preference is to see a bullish breakout above 24,270.

The Nifty 50 July Futures (24,200) is up 0.71 per cent. The contract has been oscillating between 24,000 and 24,300 since Friday last week.

Our bias is positive to see a bullish breakout above 24,300. Such a break can take the Nifty 50 July Futures contract up to 24,400 initially and then to 24,600-24,700 eventually in the coming days.

Failure to breach 24,300 from here can continue to keep the contract inside the range for some more time. A break below 24,000 and a subsequent fall below 23,950 is needed to bring the contract under selling pressure. Only then a fall to 23,850-23,800 will come into the picture.

Traders have to wait for a breakout above 24,300 to take fresh long positions. Stop-loss can be kept at 24,260 for the target of 24,390. Revise the stop-loss higher to 24,340 when the contract goes up to 24,360.