Nifty Prediction Today – September 07, 2026: Nifty 50 Futures: Can fall more. Go short

The Nifty 50 index continues to trade under pressure as it opened at 23,884.60 and is now at 23,820, marking a 0.32 percent decline. The advances/declines ratio stands at an unfavorable 11:37, indicating a negative trend. If this pattern persists, more falls may be observed throughout the day. The outlook remains pessimistic, with resistance levels at 23,880-23,915, followed by 23,950. Nifty could potentially descend to 23,700 in the upcoming sessions.

Intermediate support is located at 23,780, and a breach of this level may exacerbate the downward movement. For Nifty 50 September Futures (23,904), the market is experiencing a 0.58 percent decline. Intraday resistance is found in the 23,950-23,970 range, which may impede any bounce during the day. If this resistance is breached, it could push the contract down to 23,820-23,800. Should the index fall below 23,800, it may continue to plummet to 23,700.

The region between 24,000 and 24,050 presents a key resistance level. For Nifty 50 September Futures to turn positive, it must surpass 24,050. Considering positional trades, traders may enter short positions at 23,904. Additional shorts could be added as the contract rises to 23,935. Initially, the stop-loss should be set at 23,980, and then trailed down to 23,880 once the contract reaches 23,855.

Further adjustments to the stop-loss should be made to 23,840 and 23,785 when the contract touches 23,805 and 23,755, respectively. Exiting short positions is recommended at 23,740.