Overall, the above factors indicate that the bears are showing good strength today so far, leaving the chances of Nifty 50 and Nifty futures falling further high. Given the current downward momentum, Nifty futures is likely to extend the decline to 24,400. In case Nifty futures rebound, it can see a quick uptick to 24,500. Trading strategyWe suggested selling Nifty futures at 24,540 yesterday. For fresh trades, rather than initiating now, we suggest shorting only if Nifty futures inches up to 24,480 for a reasonable risk-reward ratio.