Nifty support levels at 24,900 seen crucial: Analysts
NAGARAJ SHETTI
SENIOR TECHNICAL RESEARCH ANALYST, HDFC SECURITIES
Explore courses from Top Institutes in
Select a Course Category
Digital Marketing
Design Thinking
Data Analytics
Data Science
Others
MCA
MBA
Operations Management
Leadership
Artificial Intelligence
PGDM
Healthcare
CXO
Degree
Finance
Management
Project Management
Cybersecurity
others
Technology
Data Science
Product Management
Public Policy
healthcare
Skills you'll gain:
Digital Marketing Strategy
Search Engine Optimization (SEO) & Content Marketing
Social Media Marketing & Advertising
Data Analytics & Measurement
Duration:
24 Weeks
Indian School of Business
Professional Certificate Programme in Digital Marketing
Starts on
Jun 26, 2024
Get Details
Skills you'll gain:
Digital Marketing Strategies
Customer Journey Mapping
Paid Advertising Campaign Management
Emerging Technologies in Digital Marketing
Duration:
12 Weeks
Indian School of Business
Digital Marketing and Analytics
Starts on
May 14, 2024
Get Details
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
Where is Nifty headed this week?
A negative candle was formed on the daily chart on Friday, indicating an attempt to break down below immediate support. On the weekly chart, Nifty formed a third consecutive bearish candle. The previous decisive upside breakout from last month's larger range has been negated as Nifty slipped below the crucial 25,000 mark. There is a probability of Nifty sliding down to the next important support at 24,500 in the coming week. Any pullback rally could encounter strong hurdles around 25,200.
Trading strategies for the week:
With markets in a downtrend, fresh short positions are advised in the index and select stocks. Any pullback rally towards 25,200 could present a sell-on-rise opportunity. Partial profit-booking may be considered around the downside target of 24,500 in the next 1–2 weeks. However, any sharp bounce above 25,250 could be a red flag for shorts and an opportunity to square off. Shorts can be created in Bank Nifty, infrastructure, public sector enterprises, energy, and IT sectors. Some stocks with a negative bias include Axis Bank, Federal Bank, CG Power and Industrial Solutions, Samvardhana Motherson International, Hindustan Petroleum Corporation, Bharat Petroleum Corporation, Infosys, LTIMindtree, Coforge, and Power Finance Corporation.
Agencies
Live Events
SACCHITANAND UTTEKAR
VP, RESEARCH, TRADEBULLS SECURITIES
Where is Nifty headed this week?
Last week, the Nifty slipped below its crucial 5-week EMA support of 25,130 for the first time in nearly four months, making this a key resistance level going forward. The weekly ADX remains flat at 21, and RSI holds steady at 56, reflecting indecision. Notably, the last three weeks' price action is contained within the weekly candle ended June 27, forming a potential 'rising three' continuation pattern, with confirmation above 25,255. On the daily chart, Nifty is trending near a vital support zone: the 50-DEMA at 24,930, Fibonacci supports at 24,920 (61.8%) and 24,800 (78.6%), and 5-month EMA at 24,680. These suggest likely rebound if Nifty sustains above 24,930 on closing basis. A sustained breach below this may lead to deeper retracement toward 20-week EMA near 24,540.
Trading strategies for the week:
Retaining buy-on-dips strategy is ideal, with aggressive longs to be considered above 25,550, a key breakout level. If correction deepens, it should be viewed as an opportunity for staggered accumulation at key support levels. Top picks are SBI, Bajaj Fin, Hero MotoCorp, Torrent Pharma, Coal India, NMDC, Tata Steel, UltraTech, Dalmia Bharat, Alkem Labs, Tata Power, Varun Beverages, Tata Consumer.
MEHUL KOTHARI
DEPUTY VICE PRESIDENT, TECHNICAL RESEARCH, ANAND RATHI SHARES AND STOCK BROKERS
Where is Nifty headed this week?
Nifty ended the week on a weak note after breaching the psychological 25,000 mark and closing near a crucial rising trendline support. While this signals shortterm weakness, a decisive move below 24,900 would confirm an extended correction. Without such a move, a quick pullback above 25,000 could occur, but this may only be a temporary bounce. The broader structure remains tricky, and unless the 25,800 resistance—a key supply zone—is taken out, the market is unlikely to resume a sustained uptrend.
Trading strategies for the week:
Given the uncertain backdrop, traders should remain cautious and avoid aggressive positions. Sustainable long trades should only be considered above 25,800, which would signal strength returning to the broader trend. In Bank Nifty, weakness continues as long as it stays below 57,000, with breakdown possibilities below 56,000 that could drag it toward 54,500–54,000. Meaningful allocations should wait until the market breaks out of this indecisive range with conviction.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
35 minutes ago
- Time of India
Tech to trash: Jorhat youth leaves IT career in B'luru, returns home to lead waste crusade
1 2 3 4 Guwahati: When Shaklain Haque Jorhat for the bustling tech hub of Bengaluru, he had no idea that his journey would eventually lead him back home with a mission to tackle one of the city's most pressing issues — waste management. Haque's passion for a cleaner environment began in his youth, when he and his school friends launched a community initiative called "It's Possible Jorhat." However, as the town's population grew, so did the mountains of garbage, and Haque realized that a more structured approach was needed. "Back in 2017-18, there was no action plan from municipal bodies for waste management, and we were clueless about the process," Haque recalls. After earning his bachelor's degree in computer programming, Haque moved to Bengaluru in 2018, initially aiming for a career in IT. But his weekends were spent volunteering in community services, where he discovered a new calling. "I struggled to juggle classes and work, and eventually realized coding wasn't my passion. I dedicated myself to learning about waste management and joined a Bengaluru-based organization focused on it," Haque says. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kanchipuram: 1 Trick to Reduce Belly Fat? Home Fitness Hack Shop Now Undo In Bengaluru, Haque gained invaluable experience working under the Extended Producer Responsibility (EPR) model, collaborating with companies to collect and manage waste. Despite his success, the worsening waste situation in Jorhat tugged at his heartstrings, prompting his return in 2021. Back in Jorhat, Haque embarked on a mission to develop a structured waste management system. "We conducted a survey and found most waste was dumped in landfills. This led us to draft proposals and seek CSR funding," he says. After three years of relentless effort, Haque's initiative finally received the green light. Starting with two wards, Haque launched awareness campaigns to educate residents on waste segregation and encouraged them to use municipal collection services. His efforts paid off, transforming these areas into "dustbin-free zones" and eliminating notorious garbage blackspots. With funds from his work, Haque established a unit for storing dry waste, addressing a critical gap in the local waste management infrastructure. Today, Haque's team collaborates with other city-based NGOs in the waste management sector, with aspirations to expand their services to other districts. Haque's journey from a tech enthusiast to waste management pioneer is a testament to the power of passion and perseverance in creating a cleaner, greener future for Jorhat. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
43 minutes ago
- Time of India
Texas tax-free weekend 2025 is here — what you can buy tax-free from Aug 8–10 will surprise you
Texas tax-free weekend 2025 is officially here — and if you're a parent, student, or savvy shopper, you'll want to mark your calendar and get your shopping lists ready. From Friday, August 8 through Sunday, August 10 , Texans can save big by avoiding sales tax on a wide range of items. While many expect discounts on school supplies and kids' clothing, this year's list includes a few surprising tax-free items that could help families save even more. What qualifies as tax-free during Texas sales tax holiday 2025? From August 8 to August 10, you'll get a break from the state's 6.25% sales tax — and possibly even local taxes — on many common back-to-school and everyday essentials. Here's what's covered: Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking MCA Digital Marketing Others PGDM Management CXO Product Management Leadership Finance healthcare Project Management Healthcare Data Science Technology Data Science others Artificial Intelligence Degree Public Policy Operations Management MBA Data Analytics Cybersecurity Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Most clothing and footwear under $100 per item – includes school uniforms, casual wear, sneakers, sandals, and everyday kids' clothing. School supplies under $100 per item – eligible items include notebooks, binders, pens, crayons, scissors, calculators, and even some art and drawing pads. Backpacks priced under $100 each – includes wheeled backpacks, messenger bags, and traditional book bags. Shoppers can buy up to 10 backpacks tax-free at once. 🔹 All purchases — whether in-store, online, by phone, or by mail — must be made during the three-day tax-free window to qualify. Surprising tax-free items you probably didn't expect While school supplies and kids' clothes are expected, Texas's tax-free weekend 2025 includes some surprising eligible items you might not know about. Here are a few standout tax-free categories: by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Face masks — both cloth and disposable are included With health-conscious shopping still trending, the state continues to consider face masks as qualifying clothing. Both cloth and disposable masks are tax-free — as long as they're not medical-grade N95 or surgical respirators. Baby and adult diapers are tax-free too This is a big win for parents and caregivers. Both baby diapers and adult incontinence products fall under the tax-free clothing category — as long as each package is priced under $100. Live Events Kitchen aprons and home-use garments Simple household aprons, oven mitts, and other utility garments are eligible — as long as they're not classified as industrial or specialized gear like welder's aprons. Pajamas, tie-dye tees, and even Halloween costumes Yes, you read that right. Clothing meant for lounging or even light costumes worn for fun (not performance) are tax-free if under $100. So are robes, pajamas, hair turbans, and everyday athletic wear like joggers and sweatshirts. Basic athletic wear makes the cut Leggings, tennis shoes, sweatpants, and workout tops count as long as they can be worn in everyday life — but professional sports gear like football pads, ballet shoes, or cleats are not covered. Common items that do not qualify during the tax-free weekend It's important to know what's not tax-free , even if the price is under $100. Avoid assuming everything is covered. Here are common items still taxed during the weekend: Jewelry, wallets, purses, and handbags Luggage, duffle bags, and laptop cases Hair accessories, watches, umbrellas, and cosmetic bags Clothing rental fees, alterations, and repairs Specialty or protective sports equipment Sewing items like fabric, buttons, thread, and zippers Don't forget about online orders, shipping, and layaways All qualifying items are tax-free as long as the purchase is paid for during the holiday period — regardless of when they're delivered or picked up. Here's how it works: Online purchases made between Aug 8–10 qualify, even if they're shipped later. Layaway items count if placed or paid off during the tax-free window. Shipping and handling charges count toward the $100 cap. For example, a $96 item with $8 shipping will be taxed, because the total exceeds $100. Business and school bulk orders need special paperwork If you're buying school supplies for a business or organization, you'll need to provide the retailer with a tax exemption certificate (Form 01-339). For personal purchases, no extra forms or documentation are needed. How to get a refund if you're charged sales tax in error If a retailer accidentally charges tax on an eligible item, you can: Request a refund directly from the store. If the store can't process it, ask for Form 00-985 and submit it to the Texas Comptroller's office to claim your refund. Key ways to save more during Texas tax-free weekend Check big-box store ads (like Walmart, Target, and H-E-B) — they often highlight tax-free eligible items. Separate your purchases to avoid bundling items that push the price above $100. Pay attention to online checkout totals — shipping fees can sneakily push an item over the cap. Stick to essentials and focus on items your family actually needs for the school year. Quick cheat sheet: What's tax-free and what's not? Item Tax-Free? Limit Kids' and adults' clothing Yes <$100/item School supplies Yes <$100/item Face masks Yes <$100/item Diapers (baby and adult) Yes <$100/item Pajamas and robes Yes <$100/item Backpacks Yes <$100/item (up to 10) Jewelry and handbags No — Laptop bags and luggage No — Athletic gear and cleats No — A rare chance to save big on essentials Texas tax-free weekend 2025 isn't just for school shopping — it's your opportunity to stock up on a wide range of clothing, supplies, and home essentials without paying a cent in sales tax. With surprising items like face masks, aprons, and diapers on the exempt list, there's more value than most people expect. Just remember: the savings only apply from August 8 through August 10, so make your list, plan your trip — or fill that cart online — and take advantage of one of Texas's best back-to-school deals. FAQs: Q1: What can I buy tax-free during Texas tax-free weekend 2025? You can buy clothing, school supplies, backpacks, diapers, and more — all under $100. Q2: When is the 2025 Texas sales tax holiday? It runs from Friday, August 8 to Sunday, August 10, 2025.
Time of India
an hour ago
- Time of India
Vijayanagara district tops state in Sakala service
Hosapete: Vijayanagara district has secured the top position in the state for providing timely services to the public by processing the highest volume of applications in a month. Expressed pride, deputy commissioner MS Diwakar stated that out of the 85,978 applications submitted by the public in July 2025, 84,904 were processed within the specified timeframe, achieving an on-time disposal rate of 98.7%. The other leading districts include Kolar, Bagalkot, Kalaburagi, and Dakshina Kannada. "This outstanding accomplishment reflects the effective administration of the district and the commitment of its employees," remarked Diwakar, who commended all officers and staff from the relevant departments. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru The Sakala initiative, introduced by the govt, aims to ensure promptness and transparency in the provision of public services. It plays a crucial role in fostering a citizen-friendly atmosphere in administration. As a newly established district, Vijayanagara is facing numerous administrative hurdles, like insufficient infrastructure, funding, and personnel. "Nevertheless, we are dedicated to the successful execution of this scheme and have motivated our staff to perform at their best. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Actors from Harry Potter are all Grown up and Their Pictures Show it Watch More Undo I am personally involved in the process and consistently follow up every day," the DC elaborated. My team set aside their personal concerns: DC Diwakar emphasised that this achievement is not merely a one-month success, but rather the culmination of persistent hard work and collaborative efforts. "Our team processed applications promptly, delivered services without delay, and set aside their personal concerns. Their commitment is now acknowledged, which has bolstered public trust in the administrative system," he said. In response to this recognition, the delighted DC urged all department heads and officers to sustain the same level of enthusiasm and efficiency in the future. He firmly instructed that public applications must not be delayed for any reason and that services should be rendered without any hold-up. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
