Pre-Market 04 Aug 2025: Nifty Range-Bound; Emami, Radico, Skipper Stocks to Watch
By CapitalKeeper | Pre Market Opening | Indian Equities | Market Moves That Matter
The Indian stock market closed Friday on a cautious note, reflecting mixed global cues and continued volatility ahead of key macroeconomic events scheduled this week. On 2nd August 2025, the benchmarks ended as follows:
- Nifty 50 closed at 24,565.35, down marginally amid profit booking.
- Bank Nifty settled at 55,617.60, witnessing consolidation near crucial support.
- Sensex ended at 80,599.91, failing to hold psychological levels of 81,000+.
- Fin Nifty closed at 26,492.50, maintaining range-bound action.
As we enter the first trading session of the week, here’s an in-depth look at technical setups, sector-wise cues, global triggers, and stock-specific opportunities.
Gift Nifty and Global Cues
Gift Nifty futures indicate a mildly positive opening, trading around 24,600 levels, suggesting a gap-up start of nearly 40–50 points for Nifty 50. Globally:
- US Markets: Dow Jones ended flat, Nasdaq gained modestly as tech earnings (Apple, Nvidia) provided support. However, treasury yields spiked after mixed US jobs data.
- Asian Markets: Nikkei and Hang Seng are trading higher, buoyed by strong export data from China and easing crude prices.
- Crude Oil: Brent trades near $78/barrel, providing relief to Indian OMCs and energy-heavy sectors.
- US Dollar Index (DXY): Hovering around 103.6 – marginally weaker, positive for Indian equities.
- India VIX: At 12.20, indicating low volatility, favoring positional traders but cautioning against complacency.
Nifty Technical Analysis: Hourly & Daily Charts
Key Levels
- OI Support Zone: 24,420–24,430
- OI Resistance Zone: 24,860–24,870
Both channel support/resistance and Open Interest data confirm these ranges, implying sideways volatility until a decisive breakout occurs.
Trend Structure
- Hourly charts show higher lows forming near 24,430, suggesting buyer defense at this zone.
- Daily charts indicate a tight channel, with resistance capped at 24,870. A sustained close above this could trigger a rally toward 25,050–25,150.
Immediate supports: 24,500 / 24,430 / 24,300
Immediate resistances: 24,700 / 24,870 / 25,000
Bank Nifty Outlook
- Current Close: 55,617.60
- Support lies at 55,200–55,300; major breakdown below 55,000 may trigger 54,500–54,200 zones.
- Resistance at 56,200–56,450; a breakout above 56,500 could revive bullish momentum toward 57,000.
- Bank Nifty OI data shows put buildup at 55,500 and call writing at 56,500, confirming range-bound bias.
Sector-Wise Trends
1. FMCG – Positive Bias
- FMCG index shows breakout potential amid defensive buying. Stocks like Emami are displaying trendline breakouts, supported by MACD bullish crossovers.
2. Metals – Mixed
- Steel and non-ferrous names are consolidating. Watch Tata Steel and Hindalco for intraday swings as LME prices remain steady.
3. Auto – Neutral to Positive
- Auto stocks (Tata Motors, Ashok Leyland) witnessing profit booking after recent rallies; however, two-wheeler demand data remains supportive.
4. Pharma – Accumulation Phase
- Selective buying emerging in midcap pharma (Radico, CCL). Positive MACD signals point to upside momentum in coming sessions.
5. Energy/Infra – Cautious Positive
- Infra names like Skipper showing breakout on volumes; however, energy remains volatile due to crude fluctuations.
6. Banking & Financials – Range-Bound
- PSU banks outperforming private banks; Canara Bank, Bank of India near strong support zones. Fin Nifty consolidating between 26,200–26,800.
Key Stock Watchlist for 04 August 2025
1. Emami Ltd (CMP: 619)
- Setup: Trendline resistance breakout with strong MACD confirmation on daily/weekly charts.
- Support: 580–590 zone.
- Targets: 640–660; above 660, next 680+.
2. CCL Products (CMP: 894)
- Setup: Reversed from 810–820 support; strong volume confirmation.
- Targets: 920–950; positional targets 980+.
- View: Buy on dips toward 880 for swing trades.
3. Radico Khaitan (CMP: 2,838)
- Setup: Resistance breakout with volume surge; positive weekly MACD.
- Support: 2,650–2,700.
- Targets: 2,950–3,050; above 3,100 opens 3,200+.
4. Skipper Ltd (CMP: 516)
- Setup: Trendline breakout with volume spike; positive structure on higher timeframes.
- Support: 450–460.
- Targets: 540–565; positional targets 600+.
F&O Data and Derivatives View
- Nifty PCR: 0.75 – indicates slight call writing pressure; range-bound sentiment.
- Bank Nifty PCR: 0.82 – neutral, but supports near 55,500 holding firm.
- FII Positioning: Longs at 28%, Shorts at 72% – FIIs remain cautious, but short covering could trigger sharp upmoves if global cues turn supportive.
Macro & Global Factors to Track
- US Fed Comments – Markets await clarity on rate-cut timelines; dovish stance could support emerging markets.
- Crude Oil Trends – Sub-$80 crude is positive for Indian macros, easing inflationary concerns.
- Dollar-Rupee Movement – Rupee strength near 83/$ may support foreign inflows.
- Domestic Earnings Season – Q1FY26 results from large caps (Reliance, IT majors) to set near-term tone.
Strategy for Traders
- Intraday View: Trade within 24,430–24,870 range; wait for breakout confirmation before positional trades.
- Positional View: Accumulate quality midcaps (FMCG, infra) on dips; avoid aggressive shorts unless Nifty closes below 24,400.
- Options Traders: Consider iron condors/short straddles between 24,400–24,900 till breakout.
Conclusion
Indian markets are expected to open mildly positive on 04 August 2025, tracking firm Asian cues and Gift Nifty signals. Nifty’s critical range of 24,430–24,870 will dictate near-term trend; a breakout could spark 25000+ rally, while breakdown may test 24,200–24,000. Focus on Emami, Radico, Skipper, and CCL for momentum trades, while closely monitoring global developments for directional cues.
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