Nifty 50 closed at 24,596, rebounding from the falling channel`s lower trendline

2025-08-08 10:17:07 am | Source: Religare Broking Ltd

Nifty 50 closed at 24,596, rebounding from the falling channel`s lower trendline - Religare Broking Ltd

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Market Outlook

The Nifty 50 settled at 24,596 after a volatile session, recovered sharply from the lower trend line of the falling channel. India VIX declined over 2% to 11.68, indicating reduced market volatility ahead. On the derivatives front, substantial OI build-up for next weekly expiry, at the 24,500 and 24,400 put strikes highlights strong immediate support. However, resistance remains intact at the 24,700 and 24,800 levels, with major call writing.

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Nifty 50 closed at 24,596, rebounding from the falling channel`s lower trendline - Religare Broking Ltd

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