NIFTY 50Nifty 50 IndexNSE:NIFTYpremganatraaNIFTY 50 Technical Outlook (15 July 2026) NIFTY 50 is on the verge of a significant breakout. A decisive daily close above the 24,200–24,210 zone could confirm the breakout and potentially trigger a bullish rally of 800–1,000 points in the coming weeks. The 23,800–24,000 range remains a strong demand zone, supported by both price action and Open Interest (OI) data. As long as NIFTY sustains above this support area, the overall market structure remains constructive. For traders looking to build a bullish position through the futures market, a hedged strategy may be considered: Buy NIFTY August Futures. Simultaneously, sell a 0.30 delta July monthly expiry Call Option. This strategy helps partially offset the cost of holding the futures position through theta decay, generating additional premium income while offering limited downside protection if the market experiences a short-term pullback. Date of Analysis: 15 July 2026 This analysis is based on technical chart patterns and derivatives data. It is intended for educational purposes and should not be considered investment advice.