Quote on Pre-Market Comment 06th Aug 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Below the Quote on Pre-Market Comment 06th Aug 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
The benchmark Sensex and Nifty indices are expected to open on a flat note on August 06, following GIFT Nifty trends indicating a loss of 07 points for the broader index.
After a flat opening, Nifty can find support at 24,600 followed by 24,500 and 24,400. On the higher side, 24,700 can be an immediate resistance, followed by 24,800 and 24,900.
The charts of Bank Nifty indicate that it may get support at 55,000 followed by 54,800 and 55,500. If the index advances further, 55,500 would be the initial key resistance, followed by 55,700 and 56,000.
The Foreign institutional investors (FIIs) sold equities worth Rs 22 crore on August 5, while Domestic institutional investors (DIIs) bought equities worth Rs 3840 crore on the same day.
INDIAVIX was negative Yesterday down by 2.13% and is currently trading at 11.7125.
Yesterday, the Indian equity market opened on a flat note but soon witnessed selling pressure, dragging the Nifty below the 24,600 mark to hit an intraday low. Following this dip, the index traded sideways at lower levels throughout the session. Mild buying was seen toward the close, but it wasn’t enough to lift sentiment, and the Nifty ended on a negative note near the 24,650 mark. On the daily chart, an Inside Bar candle was formed, indicating consolidation and indecision after recent weakness. Global markets traded with mixed cues, keeping the overall sentiment cautious. Meanwhile, Foreign Institutional Investors (FIIs) continued to remain net sellers, signaling persistent pressure on the broader market. Technically, immediate support for the Nifty is placed around 24,500, with a stronger support zone near 24,400. A breakdown below these levels could lead to extended selling. On the upside, resistance is seen at 24,800, with a major hurdle near 25,000. A decisive move above 25,000 is essential for any potential trend reversal and fresh buying momentum. Traders should stay cautious and manage risk amid rising intraday volatility.
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