Gift Nifty 🟢 Positive Opening Likely – 24,743 (+0.54%)
Nifty 🟢 Bullish Bias; watch opening-gap sustainability
Bank Nifty 🟢 Positive Bias; banking participation crucial
Gift Nifty is trading at 24,743.00, up 0.54%, signalling a strong positive opening for the Indian equity market on 5 August 2026.The global equity backdrop remains supportive.
According to Sumeet Bagadia, Executive Director at Choice Broking, the broader Nifty trend remains constructive, although some consolidation is possible following the recent sharp rally.The crucial support zone is placed at 24,350–24,400.
MCX Crude Oil remains under pressure after international crude declined roughly 10% this week. The major trigger is growing optimism that an interim agreement could reopen the Strait of Hormuz.
BASF India is a 5–7 trading-day momentum trade, with the recommended entry strictly above Rs. 3,975. The stock’s RSI of 64.1 falls comfortably within the preferred 56–68 momentum band
Gold is receiving support from declining expectations of a September Federal Reserve rate hike. The progress towards reopening the Strait of Hormuz has reduced geopolitical risk
