Nifty 50 opened the day with a wide gap-up at 26,308 but failed to get a strong follow-through rise. The US reducing the tariff on India to 18 per cent from 25 per cent trigged this wide gap-open for the market today.
The index made an intraday high of 26,341 and has come down from there. It is currently trading at 26,760, up 2.67 per cent. The advances/declines ratio is at 44:6.
Nifty 50 Outlook
Nifty has an important support at 25,600. So, to that extend there can still be room for fall during the day. For now, we are not expecting a fall below 25,600. So, Nifty can rise back from around 25,600 again and go up to 25,900-26,000 in the coming sessions.
Any immediate bounce may face resistance around 25,900.
Nifty 50 Futures
The Nifty 50 February Futures (25,812) is up 2.6 per cent. The contract has an immediate support at 25,775. If it manages to hold above this support and bounces back, then a rise to 25,950-26,000 can be seen.
However, if the contract breaks the support at 25,775, then an extended fall to 25,640-25,620 is possible. For now, we are not expecting a fall beyond 25,620. So, our preference will be to see the Nifty 50 February Futures contract to rise back from the 25,640-25,620 region and go up to 25,800-25,900 and higher.
Trade Strategy
Traders can stay out of the market for now. However, if the contract falls below 25,775, then fresh long positions can be taken at 25,680 and 25,640. Keep the stop-loss at 25,540. Trail the stop-loss up to 25,710 as soon as the contract goes up to 25,740. Revise the stop-loss higher to 25,760 and 25,790 when the contract touches 25,785 and 25,815 respectively. Exit the long positions at 25,850.
Please note that this will be a positional trade and will have to be carried forward if triggered.
Supports: 25,775, 25,620
Resistances: 25,800, 25,900
Published on February 3, 2026
