05th August 2024 | Nifty Looks Week expect Tgt 24525 | Crash Below 24400

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NIFTY Prediction

Nifty opened with a gap down and experienced weak price action throughout the day, closing approximately 293 points lower. On the daily charts, it closed below the levels of the past four trading sessions. The breakout attempt failed as there was no follow-through buying interest. Resistance on the upside is at 24,800-25,000, while support on the downside is at 24,600-24,200.

BANK NIFTY Prediction

Bank Nifty consolidated around 51,318, making its decline less severe compared to Nifty. It has been underperforming and might continue this trend. On the weekly chart, Bank Nifty has formed an Inside Bar pattern. The resistance levels are at 52,000-52,500, and the support levels are at 51,300-50,500.

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

Sr.	Stock Name	Symbol	Links	% Chg	Price	Volume
1	Info Edge (india) Limited	NAUKRI	P&F | F.A	4.58%	7220.5	1,435,112
2	Indian Energy Exchange Ltd	IEX	P&F | F.A	2.57%	195.32	33,779,275
3	Divi's Laboratories Limited	DIVISLAB	P&F | F.A	1.49%	4991.25	960,970
4	Piramal Enterprises Limited	PEL	P&F | F.A	1.42%	1037.65	2,275,720
5	Hdfc Bank Limited	HDFCBANK	P&F | F.A	1.24%	1659.15	22,059,619

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