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Nifty Outlook :- 04.08.2025 - CFA Hitesh Somani

CFA Hitesh Somani 02 Aug 2025 2 min read 1 view

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CFA Hitesh Somani

MD - Aapka Investments

www.aapkainvestments.in

02 Aug 2025 1 view

Market saw heavy selling amid us tariff news will this fall continue further?

In the last week we saw heavy sell off in the market amid geo political tension us terrif news, Russia Ukraine war and Israel - Iran tensions. In the first three days nifty traded in the narrow range with mixed views but on Thursday and Friday amid us terrif news we saw a sharp fall in the market nifty closed at 24565 which is very near to its major support 24500 levels. If nifty slips below 24500 and closes below it then we may see a further breakdown in the markets and nifty may slip towards 24000 levels. But if the markets find support @24500 levels and reverse back then we may see nifty towards 25000 again. Markets in the current scenario will trade in a narrow range of 24400 to 24900. We must wait for the proper breakout before any new long or short positions.

Banknifty also traded weak in the last 2 weeks and on Friday banknifty fell more than 500 points to close below 55700 levels. But if we compare banknifty with nifty, banknifty is in a better and stronger position, if in the next week markets find the supports and bounce back, banknifty will rise more than nifty. If banknifty closes above 56000 then we may see it towards 56500 and 57200 levels soon.

Important Levels for Nifty Next Week

Major Support Levels for Nifty
- - Support 1 – 24250
  - Support 2 – 24000
  - Support 3 – 23700

Major Resistance Levels for Nifty
- - Resistance 1 – 24750
  - Resistance 2 – 25000
  - Resistance 3 – 25250

Important Levels for Banknifty Next Week

Major Support Levels for Banknifty
- - Support 1 – 55500
  - Support 2 – 55100
  - Support 3 – 54600

Major Resistance Levels for Banknifty
- - Resistance 1 – 55900
  - Resistance 2 – 56400
  - Resistance 3 – 57000

Important Stocks to Watch Next Week

1) HBL ENGINEERING
CMP @ 599
Buy Above @ 610
Stop Loss @ 550
Targets @ 630, 660 and 690

2) CCL
CMP @ 895
Buy Above @ 905
Stop Loss @ 840
Targets @ 930,960 and 990

3) POLYMED
CMP @ 1945
Buy Above @ 1960
Stop Loss @ 1890
Targets @ 2000, 2050 and 3020

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