🌐 1. Global & GIFT Nifty Update
- GIFT Nifty futures are down by about 60–70 points, signaling a weak opening for Nifty 50 near 24,515–24,530, compared to prior close (around 24,574).
- Sentiment remains cautious as the U.S. has doubled tariffs to 50% on key Indian exports, amplifying trade tensions and hitting investor confidence.
📊 2. Technical Support & Resistance
| Index | Support Zone | Resistance Zone |
|---|---|---|
| Nifty 50 | 24,440 – 24,500 | 24,650 – 24,700 |
| Bank Nifty | 55,000 – 55,200 | 55,700 – 56,000 |
- 24,500 is acting as strong support; a fall below could trigger sharp selling.
- On the upside, the range 24,650–24,700 is expected to cap any rebound.
💼 3. FII & DII Flow (as of Aug 6)
- FIIs net sold ₹4,999 crore in cash equities.
- DIIs stepped in with net buying of ₹6,794 crore, absorbing much of the foreign outflow.
🔁 4. FII Index Futures Positioning
- FIIs continue to hold a strong net short posture—short contracts account for approx. 85% of exposure, with minimal long building.
📊 5. Options View – August Week 1 Expiry
- Highest Put OI: 24,600, 24,500 (support)
- Highest Call OI: 24,700, 24,650 (resistance)
- Put/Call Ratio (PCR): ~1.10 → signaling cautious/bearish positioning heading into expiry.
The 24,500–24,700 range remains crucial to watch today.
📰 6. Key News & Stock Updates
- Trump’s 50% tariff escalation shocks exporters and risk-sensitive sectors, potentially impacting GDP by 30–40 bps over 12 months. Markets expect knee-jerk reactions.
- Sensex opened down ~300 pts, Nifty below 24,500. Weakness led by Reliance, banking, IT; VIX jumped modestly.
- Stocks on Watch:
- Kotak Mahindra Bank (decline of ~1.2%), Adani Ports, Eternal (Antfin block sale), Tata Steel, SBI, Tata Motors are under pressure.
🌍 7. U.S. Economic Events Tonight (India Friendly Timing)
Trading eyes are on:
- Flash Manufacturing & Services PMIs
- Existing Home Sales
- Initial Jobless Claims
- Any monetary policy signals from Fed officials
- Weak U.S. data or dovish comments could stabilize global sentiment; hawkish tone may ratchet pressure further.
✅ 8. Summary & Trade Strategy
| Theme | Interpretation |
|---|---|
| Open Bias | Negative—with gap-down on heightened risk aversion |
| Key Range to Track | 24,440–24,700 holds pivotal importance |
| FII Sentiment | Heavily bearish; no signs of short unwinding |
| DII Role | Major buyer providing cushioning |
| Options View | PCR >1 reflects downside protection bias |
| Stocks to Focus On | Kotak Bank, Tata Steel, Reliance, Adani Ports, Eternal |
| Risk Trigger | U.S. macro prints and Fed remarks tonight |
Trading Plan:
- Buy near 24,480–24,500 with stop below 24,450; aim for 24,650–24,700
- Short rotation potential near 24,650–24,700 if resistance holds
- Monitor export-heavy names and earnings triggers for stock-specific moves