Nifty Prediction Today – July 22, 2026: Nifty futures: Slips in today’s early trade, but support zone ahead
AI Summary
Nifty 50 has opened lower at 24,150 and is currently trading at 23,990, down 0.8%, with a bearish advance/decline ratio of 5/45. While there is notable support around 23,900, a breach could lead to further declines, potentially targeting 23,600. Traders may consider a long position with a tight stop-loss or wait for a breach of support to initiate short positions.
Nifty 50 began today’s session slightly lower at 24,150 compared to yesterday’s close of 24,188. It slipped after opening and is now trading at 23,990, down 0.8 per cent.
The advance/decline ratio of Nifty 50 now stands at 5/45, showing a bearish bias. Among the few stocks that are up, Bajaj-Auto (up 3 per cent) and Nestle India (up 1.5 per cent) are the top gainers so far today.
On the other hand, InterGlobe Aviation (down 3.5 per cent) and Cipla (down 1.9 per cent) are the top losers.
Among the sectors, barring Nifty Auto (up 0.15 per cent), all others are in the red. Nifty Realty, down 2.2 per cent, is the top loser followed by Nifty PSU Bank and Nifty Pharma, down 1.6 per cent each.
Overall, the above factors indicate that Nifty 50 and consequently, Nifty futures is likely to see a decline today.
The July expiry Nifty futures began today’s session lower at 24,126 versus yesterday’s close of 24,181. It is now hovering around 24,000, down 0.8 per cent.
While there are clear bearish indications now, the price band of 24,000-23,900 is a notable support for Nifty futures. So, there is a possibility for a rebound. In such a case, it can rise to 24,150 and subsequently to 24,300.
However, if Nifty futures breaches the base at 23,900, the near-term outlook will turn bearish and the sell-off can intensify. In this scenario, the contract can see a quick fall to 23,600, a support. Subsequent support is at 23,250.
Broadly, Nifty futures is facing a downward pressure but there is a notable support ahead, which can arrest the decline. Therefore, from a trading perspective, to initiate a short position, one should wait for the breach of 23,900.
That said, traders with high risk tolerance can consider a long position now with a tight stop-loss. Below are our trade recommendations.
Buy Nifty futures (Jul) now at 24,000. Target and stop-loss can be 24,300 and 23,880 respectively.
If the above-mentioned stop-loss is triggered, it could be an indication that the support at 23,900 has given up. So if this happens, consider a fresh short position with a stop-loss at 24,050 for a target of 23,600.
Original Article
Published on Hindu BusinessLine