Indian Stock Market Prediction For Next Week

The overall month has been quite unpredictable. While many on the chart stood strong, most of them have slipped. Bank Nifty on the other hand maintained its grip for a long time but now appears slightly bearish. Let’s see what the coming month holds for the investors as Mr. Sumeet Bagadia, Executive Director of Choice takes us through the weekly predictions of the market.

Nifty Prediction For Next Week (3rd August - 7th August 2026)

The Nifty index started the week on a strong note, opening with a gap-up of nearly 160 points at 23,928.40. The index made its weekly low of 23,891.55 during the initial trading session, where buying interest emerged near the 50-Day EMA. The benchmark consolidated around this support zone in the early part of the week before witnessing a gap-up opening in the following session, which further strengthened the bullish sentiment. Buying interest remained consistent throughout the week, helping Nifty gradually move higher and register its weekly high of 24,429.40 on the final trading day. The index eventually settled at 24,383.60, gaining 616.15 points (+2.59%) on a weekly basis, reflecting a strong recovery in market sentiment.

The formation of higher highs and higher lows on the daily chart, coupled with a strong close near the week's high, reflects sustained buying momentum and suggests that the broader trend is gradually shifting in favour of the bulls. The recent breakout above the short-term consolidation range also indicates improving market strength and enhances the possibility of further upside if key resistance levels are crossed.

Sector-wise, the rally was supported by broad-based participation across key sectors. Nifty Auto and Nifty IT remained among the strongest performers, driven by renewed buying interest in heavyweight stocks. Nifty Pharma also witnessed healthy traction during the week, while selective strength in Financials and Capital Goods further contributed to the positive market breadth, highlighting improving sectoral participation.

From a technical perspective, Nifty has managed to close above all the key weekly EMAs (50-week, 100-week and 200-week), indicating a notable improvement in the medium-to-long-term trend. The index has also reclaimed the important 24,300–24,400 zone and is sustaining above it, reinforcing the positive undertone. The weekly RSI has improved to around 52.15, moving further above the neutral 50 mark and indicating strengthening momentum.

The overall chart structure continues to favour a gradual recovery, although the 24,600 expected to act as the next immediate resistance. A sustained move above this zone could trigger fresh buying momentum and pave the way for further gains towards 25,000. On the downside, immediate support is seen at 24,100 and 24,000. As long as the index holds above this support zone, the broader structure is likely to remain constructive. Traders are advised to maintain a buy-on-dips approach while following disciplined risk management and focusing on fundamentally and technically strong stocks

Also know: Tomorrow market prediction

Bank Nifty Prediction For Next Week (3rd August - 7th August 2026)

Bank Nifty started the week on a positive note, opening with a gap-up of around 423 points at 57,116.80, reflecting strong buying sentiment at the start of the week. However, after the sharp opening, the index witnessed mild consolidation along with profit booking during the initial sessions and slipped to a weekly low of 56,672.40 on the second trading day. The decline remained limited as buying interest emerged near the 50-Day EMA support zone, helping the index regain momentum. Fresh buying in the latter half of the week pushed the index higher, as it touched a weekly high of 57,411.25 on Friday before settling at 57,264.85, registering a gain of 117.35 points (+0.21%) for the week.

The recovery in the latter half of the week was largely driven by sustained buying in PSU banking stocks, which helped Bank Nifty erase most of its early losses. The index remained resilient despite intermittent profit booking and managed to close the week in positive territory, reflecting selective accumulation at lower levels. The ability to recover from the weekly low and close well above the key support zone indicates that market participants continue to adopt a buy-on-dips approach.

Technically, Bank Nifty formed a small-bodied bearish candle with a long lower shadow on the weekly chart, highlighting buying interest emerging at lower levels despite resistance near the higher zone. The index once again found support around the 50-week EMA and continued to trade comfortably above the 100-week and 200-week EMAs, indicating that the broader medium-term trend remains positive. Price action suggests the index is undergoing a healthy consolidation after the recent recovery, with buyers consistently defending the support zone while sellers remain active near the resistance band. A decisive move above 57,800–58,100 could revive bullish momentum and open the doors for a fresh upward move, whereas sustaining above the 56,700–57,500 support zone will remain crucial for maintaining the positive outlook. The Weekly RSI stands at 52.45, remaining above the neutral 50 mark, indicating that bullish momentum is intact despite the ongoing consolidation

Technical Research - Team Choice gives the prediction.

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