Forecast for Nifty and Bank Nifty by BL GURU from 04 Aug'25 to 08 Aug'25
After five consecutive weeks of decline, the Nifty and Nifty Bank indices are exhibiting signs of potential near-term weakness, followed by recovery. This outlook is influenced by both domestic technical levels and global market uncertainty, particularly in light of weak US jobs data.
For the Nifty Bank index, immediate support can be found around 55,300. A break below this level might cause the index to fall further to 54,500 or even 54,000, though a drop below 54,000 is deemed unlikely. After this lower support zone, a bounce back towards resistance levels around 56,000 to 56,500 is expected. The Bank Nifty may rise towards 57,500–58,300 in the medium term, although the immediate scenario remains cautious due to selling pressure [1][2].
The Nifty's key support is near 24,450. A break below this level could lead to declines towards 24,300 or 24,000, but these levels may trigger a reversal rally pushing the index back up to 25,000 and beyond if it surpasses the 25,000 mark [2][4]. However, the overall Nifty outlook remains weak unless the 25,000 level is decisively breached, signaling sustained buying interest [4].
Weak US jobs data tends to contribute to global market uncertainty and volatility, which can exert downward pressure on Indian indices in the short term through risk aversion. However, it can also soften US interest rates expectations, potentially providing eventual support. The current domestic technical levels combined with global uncertainty imply a cautious stance with room for further downward movement prior to any meaningful recovery [2][5].
Investors seeking guidance on mutual funds, investments, personal finance, or technical outlook on specific stocks can reach out to BL Portfolio at [email protected]. BL Portfolio's Twitter handle is @BlPortfolio, and its LinkedIn and Facebook profiles can be accessed at the provided links [3][6][7].
[1] After a potential fall, the Nifty Bank index can rise back to 56,000-56,500 again. [2] The Nifty Bank index has an immediate support at 55,300. [3] A break below the support of 55,300 can cause the Nifty Bank index to fall to 54,500 or 54,000. [4] After a potential fall, the Nifty can rise back towards 25,000-25,100. [5] The Nifty has an immediate support at 24,450. [6] A break below the support of 24,450 can take the Nifty down to 24,300 or even 24,000. [7] From a long-term perspective, the broader trend of the Nifty remains up.
Despite the Nifty and Nifty Bank indices indicating potential weakness, a bounce back towards 56,000-56,500 for the Nifty Bank index is anticipated after a potential fall. However, a break below the immediate support at 55,300 might initiate a fall towards 54,500 or 54,000. Investors seeking financial advice can reach out to BL Portfolio, with raw data available on their Twitter handle (@BlPortfolio) and profile links on LinkedIn and Facebook. Meanwhile, the Nifty also exhibits a similar pattern, with a potential fall followed by a rise towards 25,000-25,100. However, a break below its immediate support at 24,450 could trigger a decline to 24,300 or 24,000. Despite the short-term weakness, the broader trend of both the Nifty and Nifty Bank indices remains up.
