Nifty opened with a sharp gap-down<\/strong>, dropping nearly 220 points<\/strong> from yesterday\u2019s close amid global tariff concerns and weak Asian cues. After testing a low of 24,761<\/strong>, it recovered sharply \u2014 driven by intraday short covering \u2014 but profit booking near 24,990<\/strong> pushed it back toward the lows. The index finally closed at 24,768<\/strong>, nearly 200 points below its day\u2019s high.<\/p>\n Nifty\u2019s Range:<\/strong> BankNifty showed a similar whipsaw pattern. It opened weak, bounced sharply intraday, but again slipped from the highs to close at 55,962<\/strong>, marginally in the red.<\/p>\n BankNifty\u2019s Range:<\/strong> Nifty RSI (14):<\/strong> 45 \u2013 neutral to weak zone<\/p>\n<\/li>\n MACD:<\/strong> Still in negative territory, no bullish crossover<\/p>\n<\/li>\n BankNifty RSI (14):<\/strong> 42 \u2013 mild oversold zone<\/p>\n<\/li>\n MACD:<\/strong> Deeply negative and diverging further<\/p>\n<\/li>\n<\/ul>\n Both indices are struggling for momentum. No technical strength yet, despite the intraday recovery.<\/p>\n Nifty (Weekly Expiry):<\/strong><\/p>\n Highest Call OI: 25,000 & 25,200<\/strong><\/p>\n<\/li>\n Highest Put OI: 24,600 & 24,650<\/strong> BankNifty (Monthly Expiry):<\/strong><\/p>\n Highest Call OI: 56,600<\/strong><\/p>\n<\/li>\n Highest Put OI: 55,800 & 56,200<\/strong> Nifty:<\/strong><\/p>\n \ud83d\udd39 Pivot \u2013 24,786<\/p>\n<\/li>\n \ud83d\udd3c Resistance \u2013 24,930 \/ 25,100<\/p>\n<\/li>\n \ud83d\udd3d Support \u2013 24,650 \/ 24,550<\/p>\n<\/li>\n<\/ul>\n BankNifty:<\/strong><\/p>\n \ud83d\udd39 Pivot \u2013 55,971<\/p>\n<\/li>\n \ud83d\udd3c Resistance \u2013 56,400 \/ 56,600<\/p>\n<\/li>\n \ud83d\udd3d Support \u2013 55,800 \/ 55,500<\/p>\n<\/li>\n<\/ul>\n Expect volatility around these levels with expiry pressures still in play.<\/p>\n RBI Monetary Policy<\/strong>, auto sales, and key Q1 earnings next week<\/p>\n<\/li>\n Global watch on tariff escalation<\/strong>, crude volatility, and Fed remarks<\/p>\n<\/li>\n FIIs were net sellers in July; their August trend could swing sentiment<\/p>\n<\/li>\n<\/ul>\n Markets remain directionless in the short-term, with heavy option activity capping both upside and downside. Indicators are not favoring aggressive longs<\/strong> yet. Any move above 25,000 (Nifty)<\/strong> or 56,600 (BankNifty)<\/strong> may trigger short-covering, while breaks below 24,650 \/ 55,800<\/strong> can resume weakness.<\/p>\n Focus on momentum confirmation \u2014 avoid pre-guessing. Stay selective, stay light.<\/strong><\/p>\n","protected":false},"template":"","article-category":[35],"article-tags":[403,388,385,231],"class_list":["post-16407","article","type-article","status-publish","hentry","article-category-learn","article-tags-banknifty","article-tags-calloptions","article-tags-optionbuying","article-tags-nifty"],"acf":[],"_links":{"self":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/article\/16407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/article"}],"about":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/types\/article"}],"wp:attachment":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media?parent=16407"}],"wp:term":[{"taxonomy":"article-category","embeddable":true,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/article-category?post=16407"},{"taxonomy":"article-tags","embeddable":true,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/article-tags?post=16407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\ud83d\udd3b Low \u2013 24,761
\ud83d\udd3a High \u2013 24,991
\ud83d\udccd Close \u2013 24,768<\/p>\n
\ud83d\udd3b Low \u2013 55,547
\ud83d\udd3a High \u2013 56,406
\ud83d\udccd Close \u2013 55,962<\/p>\n
\n\ud83d\udcc9 Technical Indicators<\/h3>\n
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\n\ud83d\udd0e Option Chain Analysis \u2013 Expiry Setup<\/h3>\n
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\ud83d\udccc Expiry Range:<\/strong> 24,650 \u2013 25,000
Writers aggressively holding both ends \u2014 potential expiry tug-of-war.<\/p>\n<\/li>\n<\/ul>\n\n
\ud83d\udccc Range:<\/strong> 55,800 \u2013 56,600
Unless a breakout happens, this range may hold for a while.<\/p>\n<\/li>\n<\/ul>\n
\n\ud83d\udcca Key Levels for Tomorrow \u2013 1st August<\/h3>\n
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\n\ud83d\uddd3\ufe0f What August Will Bring<\/h3>\n
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\n\ud83d\udd1a Final Word<\/h3>\n