Trade setup for August 6: Top 15 things to know before the opening bells
If the Nifty 50 decisively breaks the 24,500 zone, which coincides with the previous week's low as well as the June low, the selling pressure may extend further. However, on the higher side, the 24,800–24,900 levels are crucial to watch, according to experts.
Technical View: Decisive fall below 100-DEMA can extend Nifty sell-off, Bank Nifty bears seen targeting June low
The weekly options data indicates that the Nifty 50 is expected to trade within the 24,500–24,800 range in the immediate term, with 24,000–25,000 being the broader range.
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The market is expected to remain in consolidation mode until it gives a decisive close above short-term moving averages. Below are some short-term trading ideas to consider.
Trading Plan: Can Nifty 50 sustain above 24,700, Bank Nifty hold previous day’s low?
The Nifty 50 is most likely to trade in the 24,500–25,000 range, as a decisive break of this range on either side can provide a firm direction to the market. The key support is placed at 24,473 (June low), as a breach below this level may give more power to the bears.
Trade setup for August 5: Top 15 things to know before the opening bells
Unless and until the Nifty 50 closes and sustains above the short- and medium-term moving averages, the trend is likely to favour the bears. On the higher side, 24,800 is expected to act as an immediate hurdle, followed by 24,950 as a key resistance level. On the lower side, support is placed in the 24,500–24,550 zone.
Technical View: Nifty needs to climb above 20-day EMA for sustainable rally, next hurdle at 24,800
The immediate hurdle is placed at 24,800, which coincides with the 10-day EMA. The Nifty 50 needs to reclaim and sustain above the 24,900–24,950 zone (50-day and 20-day EMAs) for a consistent upward journey.
Trading Plan: Will Nifty 50 defend June low, Bank Nifty hold above 55,500?
While the Nifty 50 may bounce back after last week’s significant correction, a sustainable uptrend is unlikely unless it closes strongly above 25,000. Until then, consolidation may persist. If the index decisively breaks below the June low of 24,473, selling pressure could intensify.
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While the market may rebound following last week’s sell-off, the key factor to watch is sustainability. Below are some short-term trading ideas to consider.
Trade setup for August 4: Top 15 things to know before the opening bells
According to experts, if the Nifty 50 breaks and sustains below the 24,500 support level, the selling pressure may drag it down to the 24,200–24,000 zone. However, in case of a rebound, the 24,700–24,800 levels are key to watch. As long as the index trades below 25,000, consolidation may continue.
Get ready for volatility spikes in August series; Nifty likely to remain rangebound to bearish
Given the mixed cues and technical fragility, a break above resistance could spark momentum, while a breach of key supports could deepen the market correction.
Chartist Talk: Rahul Ghose sees choppy August for Nifty, expects continued Bank Nifty outperformance
Bank Nifty has now moved below several important moving averages, and recent chart patterns look a bit bearish, but the buy on dips should be the outlook for August, said Rahul Ghose.
Option trading for range-bound market: Shubham Agarwal
Range bound markets are also equally profitable, if traded effectively using Options, explains Shubham Agarwal.
Chartist Talk: Sudeep Shah shares 2 buy and 2 sell picks amid market caution; Nifty at risk below 24,400
The 24,400–24,350 zone is expected to act as an immediate support for Nifty. A sustained break below this could further accelerate the downside. On the flip side, the 50-day EMA zone of 24,900–24,950 now stands as a crucial hurdle, and any meaningful recovery would need to clear this zone with conviction, said Sudeep Shah of SBI Securities.
Technical View: Correction continues for 5th straight week, bears can drag Nifty to 24,000 if it decisively falls below June low
Given the bearish sentiment and weakness in momentum indicators, if the Nifty 50 decisively breaks below 24,500—which roughly coincides with the June low of 24,473—then the 24,200–24,180 zone becomes critical support (coinciding with the 200-day EMA). This may be followed by 24,000, a crucial level, which both have highest Put open interest.
Trading Plan: Will Nifty 50, Bank Nifty extend weakness on first day of August series?
According to experts, unless the Nifty 50 decisively breaks above 25,000, a sell-on-rise strategy is the most tactical approach, with key support at 24,600 (100-day EMA). For the Bank Nifty, the resistance zone at 56,500 needs to be reclaimed and sustained for an upward move toward 57,000. Until then, consolidation is likely to continue.
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The bearish sentiment is expected to prevail until the frontline indices provide a sustainable close above the medium-term moving average. Below are some short-term trading ideas to consider.
Trade setup for August 1: Top 15 things to know before the opening bells
As long as the Nifty 50 trades below the 20-day and 50-day EMAs, consolidation may continue, with 24,600 (which coincides with the 100-day EMA) acting as strong support. On the higher side, 25,000 is seen as a crucial resistance zone—only a decisive move above it may turn the trend favourable for the bulls, according to experts.
Technical View: Bearish sentiment may prevail until Nifty decisively takes out today's high
According to experts, the bearish sentiment amid consolidation is expected to prevail until the Nifty 50 decisively takes out today’s high of 24,957. On the lower side, the 24,600 level or the 100-day EMA is expected to act as a support.
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The consolidation is expected to continue as long as the frontline indices trade below the 50-day EMA. Below are some short-term trading ideas to consider.
Trading Plan: Can Nifty 50 hold 24,600, Bank Nifty stay above 55,500 after Trump’s 25% tariff on India, Fed move?
If the Nifty fails to take support at the 24,700–24,600 zones amid Trump’s 25 percent tariff on India and the Fed maintaining the status quo on rates, the selling pressure may widen. However, the 24,950–25,000 zone is likely to act as a hurdle on the higher side.
Trade setup for July 31: Top 15 things to know before the opening bells
If the Nifty 50 fails to defend the 24,650–24,600 support zone, amid a possible knee-jerk reaction to Trump's 25 percent tariff imposition on India, the bears may gain strength. However, on the higher side, surpassing 24,950 could open the door for 25,150–25,250 levels, according to experts.
Technical View: Further major upmove unlikely until Nifty decisively surpasses 50-day EMA
Monthly options data suggest that the Nifty 50 may continue to trade in the 24,800–25,000 range in the near term.
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The market is expected to remain rangebound and consolidative in the upcoming sessions. Below are some short-term trading ideas to consider.
Trading Plan: Can Nifty 50, Bank Nifty extend Tuesday's recovery further?
Consolidation may continue as long as the Nifty 50 trades below the 24,950 zone (immediate resistance), with key support at 24,600. Meanwhile, the Bank Nifty needs to sustain above the 55,800 support for an upward move toward 56,600–56,700; however, below 55,800, the bears may gain strength, according to experts.
