Opening Bell 06 August 2025: Nifty and Bank Nifty Trade Weak; Sell-on-Rise Strategy Dominates
By CapitalKeeper | Market Opening | Intraday Ideas | Market Moves That Matter
Indian markets open subdued on 06 August 2025. Nifty resistance at 24,750, support at 24,550; Bank Nifty faces strong resistance at 55,650. Key sector trends and intraday trading levels.
Opening Bell 06 August 2025: Nifty Faces Resistance at 24,750; Bank Nifty Sell-on-Rise Persists
The Indian stock market kicked off Wednesday’s session on a weak yet steady note, continuing its cautious trend ahead of key domestic and global triggers. Following a volatile August series opening, Nifty 50 and Bank Nifty are trading within defined ranges, and traders are sticking to sell-on-rise strategies as upward momentum remains capped by strong resistance levels.
Global markets remained mixed overnight, and domestic indices opened in red yet above crucial supports, keeping short-term traders on their toes. Defensive buying in FMCG and selective pharma stocks is providing mild support, while selling pressure in banks, metals, and IT midcaps is restricting any major upside.
Market Opening Snapshot – 06 August 2025
| Index | Previous Close | Opening Price |
|---|---|---|
| Nifty 50 | 24,649.55 | 24,641.35 |
| Bank Nifty | 55,360.25 | 55,329.80 |
| Sensex | 80,710.25 | 80,694.98 |
| Fin Nifty | 26,373.50 | 26,338.10 |
Technical Analysis – Nifty and Bank Nifty
Nifty 50 (24,641.35)
- Resistance Zone: 24,750
- Support Zone: 24,550
Nifty continues to hover near its key support level of 24,550, which has held firm for the last few sessions. A decisive break below this zone could drag the index toward 24,400 – 24,300 levels, while sustained trade above 24,750 is needed for any meaningful upside toward 24,900 – 25,000.
Technical Indicators:
- RSI remains neutral, showing no strong bullish divergence yet.
- Option data suggests heavy call writing at 24,700–24,800 strikes, indicating stiff resistance ahead.
- Volume profile supports range-bound trading with sell-on-rise strategies.
Bank Nifty (55,329.80)
- Major Resistance Zone: 55,650
- Immediate Support Zone: 55,200
Bank Nifty perfectly followed the earlier technical setup with a sharp decline on Tuesday. Today, 55,200 emerges as a make-or-break support; a breach below could open the gates toward 54,800 – 54,600 levels. On the upside, 55,650 remains the first hurdle for bulls to cross for any sustainable recovery.
Key Observations:
- PSU banks are relatively weaker compared to private banks; watch SBI and PNB for further cues.
- Private banks like ICICI Bank and Axis Bank are holding marginally better but face resistance near swing highs.
- Sell on rise remains the preferred trade until Bank Nifty closes above 55,650 decisively.
Fin Nifty (26,338.10)
- Resistance Zone: 26,500 – 26,600
- Support Zone: 26,200
Fin Nifty is consolidating in a narrow band, tracking both Nifty and Bank Nifty moves. Sustained trade above 26,500 will hint at short-term bullish momentum; otherwise, weakness below 26,200 could extend toward 26,000.
Sectoral Outlook – 06 August 2025
| Sector | Bias | Key Drivers & Outlook |
|---|---|---|
| FMCG | Positive | ITC, HUL show defensive buying amid market volatility |
| Pharma | Positive | Sun Pharma, Cipla stable; safe haven in current market |
| Private Banks | Neutral | ICICI Bank, Axis Bank may see bounce but resistance heavy |
| PSU Banks | Weak | SBI, PNB remain under pressure; avoid aggressive longs |
| IT Midcaps | Weak | KPIT, L&T Tech under selling pressure due to global cues |
| Metals | Positive | Hindalco, Tata Steel struggle amid China demand worries |
Global Cues Impacting Market
- US Markets: Closed marginally lower as investors await fresh inflation data and Fed commentary.
- European Indices: Mixed performance; energy stocks supported gains, while autos lagged.
- Asian Markets: Nikkei, Hang Seng remain volatile amid China property sector jitters.
- Crude Oil: Brent near $83.10 – stable but watch for geopolitical developments.
- USD/INR: Trading near 83.55; rupee remains range-bound, offering stability to exporters.
Option Data & Sentiment Check
- Nifty PCR (Put-Call Ratio): 0.71 – Indicates neutral to slightly bearish tone.
- Bank Nifty PCR: 0.60 – Suggests continued pressure on banking index.
- India VIX: 11.50 – Low volatility, but potential spikes near key resistance zones.
Intraday Stock Ideas – 06 August 2025
| Stock | CMP | Action | Target Range | Stop Loss |
|---|---|---|---|---|
| ITC Ltd. | ₹413 | Buy on dips | 425 – 430 | 405 |
| Sun Pharma | ₹1,610 | Buy above | 1,650 – 1,660 | 1,590 |
| Axis Bank | ₹1,071 | Buy above | 1,085 – 1,095 | 1,065 |
| Hindalco | ₹687 | Buy above | 698 – 705 | 568 |
| Tata Motors | ₹652 | Buy near | 670 – 675 | 648 |
CapitalKeeper View
The broader market is in a consolidation phase with bearish undertones. Until Nifty crosses 24,750 and Bank Nifty sustains above 55,650, upside moves should be treated as short-covering rallies rather than fresh breakouts. Defensive sectors like FMCG and pharma remain better positioned, while metals and IT midcaps face continued selling pressure.
Pro Tip: Stick to range-bound strategies, book profits quickly, and maintain strict stop-losses in this low-volatility yet choppy market environment.
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