According to Parekh, the Nifty 50 has remained range-bound for some time. The index must sustain the crucial 24,350–24,400 support zone
Positive Cues: Selective strength in US technology stocks, Kospi up 1.17%, strong precious metals, put support in Gold and Crude Oil, and subdued India VIX.
Gift Nifty is trading at 24,614.00, down 0.43%, indicating a weak to moderately negative opening for the Indian equity market on 11 August 2026.
On the upside, 24,575–24,650 remains the immediate resistance zone. A sustained breakout above 24,650 could revive short-term bullish momentum
The bearish scenario becomes active below Rs. 7,800. This strike carries call OI of 4,015 lots and put OI of 8,178 lots.
MCX Gold is likely to remain volatile but maintain a mildly bullish undertone. International gold is trading near $4,390,
