MOMENTUM MANTRA DAILY RUN-UP 📅 07 August 2026
MOMENTUM MANTRA DAILY RUN-UP
📅 07 August 2026
🔔 Opening View
Indian markets are likely to open on a slightly negative note, with GIFT Nifty trading near 24,664, down 75.40 points (-0.30%). Mixed global cues and profit booking at higher levels may keep sentiment cautious, while the 24,600–24,500 zone will remain the immediate support area to watch. 📊
📈 Market Recap
Indian equity benchmarks ended largely unchanged after a range-bound session, with Nifty trading within the 24,600–24,680 range for most of the day before closing with a marginal gain of 0.05%. Meanwhile, the Nifty Midcap 100 underperformed the benchmark, declining 0.44% amid selective profit booking.
📈 Nifty Key Levels
▪️ Support: 24,430 | 24,350
▪️ Resistance: 24,650 | 24,780
💰 FII/DII Flow
▪️ FII: -₹17.86 crore
▪️ DII: +₹4,013.60 crore
📊 Options Positioning
▪️ PCR: 1.04 (Neutral to Slightly Bullish) – Put OI marginally exceeds Call OI, indicating a mildly positive near-term bias.
▪️ Resistance: 24,800–25,000 zone, with the highest Call OI concentration at 24,800, followed by 24,900 and 25,000.
▪️ Support: 24,700–24,600 zone, backed by strong Put OI buildup, with the highest Put OI at 24,600, followed by 24,700 and 24,500.
▪️ Max Pain: 24,600 – Suggests Nifty may gravitate around this level ahead of the weekly expiry.
▪️ Interpretation: PCR at 1.04 reflects a neutral to slightly bullish undertone, with Put writers defending the 24,600 level. As long as Nifty sustains above 24,600, the positive bias is likely to continue. A decisive move above 24,800 could trigger fresh buying towards 24,900–25,000, while a break below 24,600 may lead to profit booking towards 24,500–24,400.
Source: NSE India
🏭 Sectoral Outlook
🟢 Bank Nifty – Buy on Dips
🟢 PSU Bank – Buy on Dips
🟢 Metal – Buy on Dips
🟢 Energy – Buy on Dips
🟢 Pharma – Buy on Dips
🟢 Auto – Accumulate
🟡 Realty – Stock Specific
🚫 F&O Ban List