Morning Market Edge-----> Nifty Holds Above 24,500, But 24,700 Remains the Biggest Hurdle! Will Bulls Finally Break Through Today?

Indian markets are expected to open on a cautious note today. While US markets ended slightly lower, crude oil remains stable, and FII positioning continues to stay broadly constructive, Nifty has now spent three consecutive sessions struggling near the 24,700 resistance zone. The positive sign, however, is that the index continues to hold above its breakout level of 24,500, indicating that buyers are still defending lower levels. ##Global Cues US Markets Ended Slightly Lower Wall Street paused after its recent rally as investors booked some profits ahead of key macroeconomic events. • Dow Jones: -0.85% • S&P 500: -0.18% • Nasdaq Composite: -0.39% • Crude Oil Remains Stable @@FII / DII Activity (06 August 2026) Cash Market • FII: -₹17.86 crore • DII: +₹4,013.60 crore FII Derivatives • Index Futures: +₹2,253.84 crore • Index Options: -₹1,231.85 crore • Stock Futures: +₹242.33 crore • Stock Options: -₹173.58 crore ------> The institutional picture remains neutral to positive. -------> Nifty Technical Setup Resistance: 24,700 Support: 24,500 For the third consecutive session, Nifty has faced selling pressure around 24,700. However, the encouraging sign is that the index continues to trade above the breakout zone of 24,500, suggesting the bullish structure remains intact. A decisive move above 24,700 could open the path towards the next leg of the rally. @@Earnings in Focus $LUPIN $LUPIN reported largely in-line quarterly results, with healthy operational performance and stable margins, keeping sentiment positive for the stock. $HEROMOTOCO $HEROMOTOCO 's quarterly numbers were slightly below market expectations, leading to a relatively softer market reaction compared to peers ------->Stocks & Sectors to Watch ( banking/pharma/auto) $HDFCBANK $BANKINDIA $AUBANK $LUPIN $DRREDDY $HEROMOTOCO @@Bottom Line The market structure remains positive, but 24,700 has become the key battleground between bulls and bears.