🔹 Market Wrap – 7 Aug 2025
Markets closed flat with a positive bias after a volatile day.
Nifty +21 pts at 24,596 | BankNifty +108 pts at 55,521
Early weakness came from U.S. tariff noise, but strong buying from key support zones pushed indices higher. DII inflow of ₹10,864 Cr helped absorb FII selling of ₹4,997 Cr.
🔸 Nifty Outlook
Took support near 24,344 (April resistance), formed bullish candle
If 24,650 breaks, upside open till 24,750
Support at 24,500 > 24,450 > 24,350
🔸 BankNifty Outlook
Rebounded from 55,000, closed above yesterday
Resistance at 55,700 > 55,900
Support at 55,300 > 55,000
🔸 Derivatives Check
Max Pain: Nifty 24,600 | BankNifty 56,000
PCR: Nifty 1.31 (bullish), BankNifty 0.79 (neutral)
IV: 11.69 – low vol, short covering evident
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