Morning Market Insights | 7 August 2026

Indian equity markets are expected to open on a steady note as the broader trend remains positive despite the recent consolidation. Nifty continues to form a pattern of higher highs and higher lows on the daily chart, indicating that the underlying bullish structure is intact. Sector rotation has also been healthy, with leadership shifting across sectors, suggesting sustained market participation. Traders may continue to adopt a "buy on dips" strategy as long as the index holds above key support levels. Technically, Nifty has immediate support at 24,350–24,420. Holding above this zone could keep the momentum intact and pave the way for a move towards 24,700–24,750, which remains the immediate resistance zone for the day. A decisive breakout above this range may extend the ongoing uptrend. Bank Nifty also remains in a strong technical setup after registering consecutive closes above the crucial 57,500 resistance level. The index is likely to witness buying interest near 57,600–57,650, while immediate resistance is placed at 58,200–58,250. A sustained move above these levels could open the doors for 58,500 and higher. Stocks in Focus Positive Triggers Premier Energies: Plans to raise ₹5,000 crore through a Qualified Institutional Placement (QIP). Allied Blenders: Board approves capacity expansion at the Moradabad facility. $DEEPAKNTR : Subsidiary commissions a new manufacturing plant. Prataap Snacks, Apollo Pipes: Promoters increase stake, reflecting confidence in business prospects. Indegene: Quant Mutual Fund acquires nearly 95 lakh shares. Negative Triggers $ALKEM : US FDA classifies its Daman facility as Official Action Indicated (OAI) following seven observations. $DABUR : US FDA issues a warning letter for its Silvassa manufacturing facility.