📝 Nifty & BankNifty Review (5th Aug) + Bias for 6th Aug

Markets stayed muted with Nifty closing at 24,649.6 (-0.29%) and BankNifty at 55,360 (-0.47%). Nifty traded within the CPR band of 24,645–24,696 and faced resistance near the pivot of 24,670.7. BankNifty stayed below its pivot of 55,602.7 as selling dominated near 57,000 CE. Option data showed strong resistance at 24,700–24,800 CE and support around 24,500–24,600 PE for Nifty. BankNifty had heavy call writing at 57,000 and put writing near 56,500–57,000. PCR stood weak at 0.72 (Nifty) and 0.77 (BankNifty). India VIX remained low at 11.71, hinting at range-bound action. Top gainers:

, , . Top losers: , , . Sectors like IT and FMCG outperformed; Banks and Realty underperformed. No strong global cues kept markets consolidating. Bias for 6th August: Nifty CPR is very narrow (24,654–24,662), signaling possible breakout. Watch 24,725 for strength towards 24,800–24,867. Weakness below 24,582 can drag to 24,514–24,439. BankNifty CPR (55,381.7–55,425) also hints at a move. Watch for breakout above 55,605 for 55,849–56,050. Below 55,158, expect weakness to 54,957–54,712. Both indices may see strong intraday moves if CPR is breached. Stay nimble and manage risk accordingly.