Morning Market View | 04 August 2026
Nifty is expected to open on a flat to positive note, supported by stable global cues and continued FII buying over the last few sessions. However, traders may remain cautious after the implementation of the new NSE Closing Auction Session, which could keep volatility elevated toward the closing hours.
Technically, the overall trend remains positive as the index has reclaimed key resistance levels. Immediate support for Nifty is placed at 24,300-24,350, while 24,600-24,650 will act as the intraday hurdle. A sustained move above this zone could extend the rally towards the 24,800 mark. Broader market participation continues to remain healthy with the advance-decline ratio favoring the bulls, indicating strength beyond the frontline indices.
Bank Nifty Outlook
Bank Nifty remained in the driver's seat in the previous session, ending near the day's high, led by strong buying in private sector banking stocks such as HDFC Bank, ICICI Bank and Axis Bank. The index continues to display positive price structure with higher highs and higher lows on the charts. Immediate support is placed at 57,300-57,400, while 58,000-58,200 remains the key resistance zone. A decisive breakout above 58,200 could trigger fresh momentum towards higher levels.
Stocks in News (Today)
Paytm: In focus after recent business updates and investor interest.
LIC: Government's proposed stake dilution plans may keep the stock active.
Bharti Airtel: Investors will watch for telecom sector developments and business updates.