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Nifty

Nifty surrendered its interim gains in the final session but managed to close the week firmly above the 24900-gap support. The index’s ability to hold its 50-day EMA reinforces the broader uptrend, keeping scope open for a move toward the 25400–25500 zone—which aligns with the retracement resistance of the seven-week decline from the 25792 peaks on 30 June 2025. On the downside, a cluster of supports remains intact, with the 5-, 20-, and 50-day EMAs converging near 24890 and the 5-week EMA at 24800. Options data for the final August expiry week reflects a cautiously bearish to sideways tone, with Nifty resistance placed at 25063 and support around 24840. The week saw maximum Call unwinding at the 24900 strikes, while significant Put OI buildup at the 24800 strike strengthens the nearterm demand pocket, often attracting fresh accumulation. For now, the immediate hurdle remains the 25000–25160 band. A sustained breakout above this zone would confirm the next leg higher, with greater conviction likely in the September series.

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