PRE MARKET REPORT-----> Nifty Faces the 24,500 Test! FIIs Keep Buying, But Will a High PCR Trigger Early Profit Booking?

Indian markets are set for another positive session as stable crude oil prices, strong US market gains and continued FII buying provide support. However, one indicator deserves close attention today—Nifty's Put-Call Ratio (PCR) is near 1.6, suggesting that bullish positioning has become crowded. Could this lead to mild profit booking in the first half before the next leg of the rally? ##Global Cues US Markets Ended Higher • Dow Jones: 53,178.41 (+1.30%) • S&P 500: 7,600.50 (+1.48%) • Nasdaq Composite: 25,913.90 (+2.13%) ------>II / DII Activity (3 August 2026) Cash Market • FII: +₹922.26 crore • DII: +₹1,571.18 crore FII Derivatives • Index Futures: +₹3,617.70 crore • Index Options: +₹5,813.93 crore • Stock Futures: -₹306.93 crore • Stock Options: -₹184.42 crore The key takeaway is that FIIs continue to accumulate Indian equities, with strong buying in both the cash market and index derivatives, indicating that institutional sentiment remains constructive. ##Nifty Levels Major Resistance: 24,500 Immediate Support: 24,300 ----->One Concern: Nifty PCR Near 1.6 A PCR of around 1.6 usually indicates that the market has become heavily bullish in the short term. This increases the possibility of: • Mild profit booking during the first half of the session • If Nifty absorbs the selling pressure and sustains above 24,500, it could open the door for a fresh upside move. ##Sectors in Focus- AVIATION / PAINTS

##Bottom Line The bulls still have the momentum, but 24,500 is the real test. Global cues remain supportive, crude oil is stable, and FIIs continue to buy aggressively. However, the elevated PCR suggests that some profit booking in the first half cannot be ruled out.