Nifty: A breakdown under 24,350 could intensify promoting in Nifty: Analysts

Nifty 50 faces a risky week forward as technical indicators flash weak point and a number of analysts flag crucial assist ranges that would dictate the index’s near-term trajectory. Whereas consumption-driven sectors like auto, FMCG, and client durables are displaying relative power, warning is suggested in banks, IT, PSUs, and realty.

RAJESH PALVIYA
HEAD – TECHNICAL AND DERIVATIVES RESEARCH, AXIS SECURITIES

The place is Nifty headed this week?
On weekly chart, the index has fashioned an extended bearish candle with a decrease high-low in comparison with the earlier week, indicating weak point at present ranges. The index is approaching a horizontal assist of 24,350. A breakdown under this degree might open draw back to 24,071 (200-day easy transferring common). For a constructive pattern reversal, the index should shut above 24,702 (20-day SMA). Chart construction signifies {that a} sustained transfer above 24,500 could appeal to shopping for curiosity, driving the index in the direction of 24,700–25,000, whereas a breakdown under 24,350 might intensify promoting stress, dragging it in the direction of 24,150–23,900. For the week, we anticipate Nifty to commerce within the 24,800–24,000 vary with a destructive bias. Buying and selling technique for the week
For the Nifty choices expiring on September 2, a Put Unfold is advisable for a reasonably bearish market outlook. The dealer buys one lot of 24,500 strike put choices at a premium of Rs 135–145, and concurrently sells one lot of 24,250 strike put choices at a premium of Rs 25–30. The break-even level is at 24,390, with a most potential lack of Rs 8,250 and a most revenue of Rs 10,500. Shares like Hero MotoCorp, Britannia, Everlasting, Dalmia Bharat, and UPL will be thought-about on the lengthy facet of commerce.

ROHAN SHAH
TECHNICAL ANALYST, ASIT C. MEHTA INVESTMENTThe place is Nifty headed this week?
Nifty stays weak close to the 24,500–24,300 assist zone. This area is crucial because it represents the neckline of a Head & Shoulders construction. A decisive shut under it could affirm a sample breakdown, exposing the index to 23,800–23,500. Conversely, any aid rally is more likely to face resistance round 24,800–25,200.

Buying and selling technique for the week
Sectors displaying relative power with bullish chart formations and anticipated to outperform embody autos, FMCG, and client durables. However, sectors equivalent to realty, central public sector enterprises (CPSEs), and banks proceed to show weak point. Choose shares like Voltas, Dabur India, Colgate Palmolive, Indus Towers, Indraprastha Fuel, and Havells India are exhibiting power.

RUPAK DE
SENIOR TECHNICAL ANALYST, LKP SECURITIES

The place is Nifty headed this week?
Nifty is under the 100-day exponential transferring common (EMA) on the day by day chart. Within the weekly timeframe, the index closed under the 21-day EMA for the second time within the final 4 weeks, reflecting rising pessimism. The fast assist zone is positioned at 24,150– 24,170, which additionally aligns with the 38.2% Fibonacci retracement of the prior rally from the April 2025 low to the June 2025 excessive. A decisive breakdown under 24,150 might open the door to additional draw back. Conversely, if the index sustains above this assist, a significant restoration can’t be dominated out.

Buying and selling technique for the week
Throughout the auto house, two-wheelers equivalent to Eicher Motors, TVS Motor, and Hero MotoCorp are displaying sturdy momentum. Amongst carmakers, Maruti seems favorable, whereas Tata Motors is finest averted. Moreover, shares like NAVA, CG Energy and Industrial Options, and HBL Engineering will be stored on the radar. Warning is suggested for IT, PSU, and banking shares.