The Nifty 50 closed at 24,574, after facing selling pressure near 24700

2025-08-07 09:59:33 am | Source: Religare Broking Ltd

The Nifty 50 closed at 24,574, after facing selling pressure near 24700 - Religare Broking Ltd

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Market Outlook

The Nifty 50 closed at 24,574, after facing selling pressure near 24700. India VIX rose over 2% to 11.96, suggesting some volatility ahead. On the daily chart, the index remains within a falling channel. In the Derivatives market, 24650-24700 Call strikes have added significant OI, which signals immediate and strong resistance for the current expiry with crucial support at the 24500 level. A decisive breakdown below 24500 may trigger a further decline towards 24,300.

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The Nifty 50 closed at 24,574, after facing selling pressure near 24700 - Religare Broking Ltd

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