Nifty Analysis by Angel One
For July 08, 2025
Nifty write up by Rajesh Bhosale, Equity Technical Analyst, Angel One
Market remains range-bound; Nifty ends the session on a flat note
With no major cues to drive early action, the week kicked off on a flat note as Nifty opened steady and remained confined to a narrow 60-point range throughout the session. Eventually, the index ended unchanged at 25461.
Over the past week, Nifty has entered a time-wise correction, lacking directional momentum and consolidating within a tight band. The range narrowed further, forming a classic Doji candle on the daily chart, a sign of market indecision. This indecisiveness reflects traders’ cautious stance amid ongoing U.S. trade policy uncertainty and in the anticipation of key corporate earnings. Technically, the zone of 25300–25250 continues to act as a strong support area, aligned with recent breakout levels and the 20-day EMA. Considering the broader uptrend, any dip into this support zone is likely to attract buying interest. On the higher side, 25500–25600 remains an immediate resistance zone. A breakout beyond this range on intraday charts could lead to a fresh leg of the uptrend. Traders are advised to monitor these levels and align their strategies accordingly.
Sector-wise, interestingly, the FMCG space, which had been out of the limelight for several months, witnessed significant traction during the session. The index managed to cross multiple key moving averages , the 20, 50, and 89-day EMAs , all in a single day, signalling a potential shift in momentum. This technical development suggests that the sector may see continued follow-through in the coming sessions. Traders are advised to keep this space on their radar, along with other thematic areas that typically perform well during periods of consolidation in the broader market.
Key levels to watch
NIFTY
Support: 25300 – 25250
Resistance: 25550 – 25670
BANKNIFTY
Support 56650 – 56500
Resistance: 57150 – 57500
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