Nifty started the day on a weak footing, dropping nearly 225 points in early trade. However, it made a remarkable comeback, gaining over 250 points to finish above the previous session’s close. This rebound resulted in a bullish candlestick formation on the charts, indicating renewed buying momentum. Technically, if the index holds above the 24,650 mark, it could trigger a further rally toward the 24,850 level. On the lower side, key support levels are seen at 24,550 and 24,400 — both areas may offer favorable opportunities for initiating fresh long positions. On the sectoral front, most major indices reversed early losses, with IT, Media, and Pharma leading the recovery, each gaining between 0.5% and 1%.
The Nifty 50 prediction for tomorrow indicates a sideways to bullish move. The range is between 24450 and 24750, with support at 24450-24500 and resistance at 24700-24750. Traders should monitor these crucial levels closely for potential market shifts.
Bank Nifty experienced sharp intraday volatility, initially slipping nearly 350 points. However, it found strong buying interest near its 100-day Exponential Moving Average (EMA), leading to a swift recovery of around 540 points. The index closed in the green and formed a bullish candlestick pattern, reflecting demand at lower levels. Immediate support is now placed at 55,200, followed by 55,000. Sustaining above these levels could keep the bullish momentum intact. On the upside, resistance is seen between 55,700 and 56,000, and a decisive move above this range may pave the way for a rally toward the key psychological level of 56,200.
Tomorrow's Bank Nifty prediction suggests a sideways to bullish range between 55200 and 55850, with strong support at 55200-55300 and resistance at 55750-55850. Traders should monitor these crucial levels closely for potential market shifts.
Indian stock markets ended on a positive note on August 7, 2025, despite experiencing volatility throughout the session. The Sensex gained 79.27 points, or 0.10%, to settle at 80,623.26, while the Nifty 50 edged up by 21.95 points, or 0.09%, closing at 24,596.15. Market sentiment remained mixed, with 1,708 stocks advancing, 1,981 declining, and 125 ending flat.
SENSEX forecast for tomorrow suggests a sideways to bullish movement, ranging between 80200 and 81200. Key support levels are at 80100-80200, while resistance lies at 81100-81200. Traders are advised to watch these critical levels closely for potential market shifts.
Midcapnifty prediction suggests a sideways to bullish movement, with a range between 56500 and 57400. Key support levels are at 56500-56600, while resistance lies at 57300-57400. Traders are advised to watch these critical levels closely for potential market shifts.
India VIX, which gauges market volatility, dropped by 2.28% to settle at 11.68, suggesting a decline in uncertainty and a boost in investor confidence. In the derivatives space, open interest (OI) data revealed the highest call writing at the 24,800 strike, signaling a key resistance zone. Meanwhile, the maximum put OI was observed at the 24,500 strike, indicating strong support. This positioning reflects cautious optimism among traders — while resistance around 24,800 remains, a decisive close above this level would be crucial for sustaining the ongoing bullish trend.
Prediction given by Technical Research Team - Choice.
Other Indices | |
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Nifty Financial Services | Nifty IT |
Nifty Pharma | Nifty Metal |
Nifty Auto | Nifty FMCG |
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