Nifty 50 index supported near 25,000 and facing resistance at 25,160. A break above 25,160 could lead to levels of 25,250-25,300, while failure to breach may push Nifty towards 25,000 and potentially to 24,900-24,800.
The Nifty 50 July Futures are down 0.18% at 25,177 with a negative bias. Resistance for the futures contract is at 25,230-25,260, and it could decline to 25,020-24,980. A significant rise above 25,260 is necessary for a relief rally towards 25,400.
Traders are advised to short at 25,177 and add more shorts at 25,210 with a stop-loss at 25,270. Sequentially adjust stop-loss levels as the contract price changes and exit the shorts at 25,040.