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Nifty

Following Friday’s decline, the index was observed to have remained within the prior day’s trading range, leading to the formation of an Inside Bar pattern. The pattern is considered indicative of potential directional momentum, as a break on either side of the range may invite follow-through. Its 50-day EMA was retained, thereby reinforcing the broader uptrend structure with a scope for an eventual move toward the 25400–25500 zone was kept open, aligning with the retracement resistance of the seven-week decline from the 25792 peak of 30 June 2025. On the downside, a confluence of supports was noted, with the 5-, 20-, and 50-day EMAs converging near 24890, while the 5-week EMA was positioned near 24800. options setup for the final days of August expiry is observed to reflect a cautiously bearish to sideways tone. Resistance was noted near 25063, while support was identified around 24840. Maximum Call unwinding at the 24900 strike, suggesting reduced conviction at that level. At the same time, a significant Put OI buildup at the 24800 strike was seen to have strengthened the near-term demand pocket, which often tends to attract fresh accumulation. For the moment, the 25000 continues to act as the immediate hurdle. A sustained breakout above this zone would be regarded as confirmation of the next leg higher, with greater conviction expected to emerge in the September series. While the support clusters are placed at 24850-24700.

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