02nd August 2024 | Nifty 25300 weak 24400 | Expect Good Week Finishing

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NIFTY Prediction

Nifty opened with a gap up today, consolidating throughout the day to finish with a gain of around 60 points. The daily charts show that Nifty has broken out of its sideways consolidation to the upside. We anticipate the rally to extend towards 25,000-25,500 in the short term, with support levels at 24,900-24,500.

BANK NIFTY Prediction

Bank Nifty remained in a rangebound price action, forming a symmetrical triangle pattern during consolidation. A breakout from this range will determine the future trend. Therefore, we continue to maintain a rangebound outlook for Bank Nifty. Resistance levels are at 52,000-52,600, while support levels are at 51,200-50,500.

Breakout Stock for Trading (Future, Option & Swing Trading) with Last Day Breakout

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