Stock Market Analysis and Monday Guidelines for 5 August 2024.

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On August 5, the Sensex sank 885.60 points to 80,981.95, while the Nifty slid 293.20 points to 24,717.70. There were 1,426 gains, -1,960 losses, and 83 shares that stayed unchanged. Top Nifty gainers include Divis Labs, HDFC Bank, Dr. Reddy's Labs, Sun Pharma, and Kotak Mahindra Bank. The top Nifty losers are Eicher Motors, Maruti Suzuki, Tata Motors, Hindalco Industries, and JSW Steel. Except for pharmaceuticals and healthcare, all sector indexes finished in negative territory. The auto, energy, PSU bank, IT, metal, and realty sectors all declined by 1-3 percent. The BSE Midcap index dropped 1%, while the smallcap index lost 0.5%.

STOCK	Good Above	Weak Below
BIOCON	351	346
HDFCBANK	1661	1640
NESTLEIND	2500	2475
NTPC	420	415

Analysis for Monday: NIFTY

Analysis For Monday, NIFTY may rise over 24,800 or fall below 24,600, depending on global factors.

The Nifty began with a gap down and had lackluster price activity throughout the day, finishing around 293 points down. On the daily chart, it ended below the levels of the previous four trading sessions. The breakout effort failed because there was no sustained purchasing interest. Resistance on the upswing is around 24,800-25,000, while support is at 24,600-24,200.

Highest Call Writing at	24,800 (77.4 Lakhs)
Highest Put Writing at	24,600 (46.6 Lakhs)

Nifty Support and Resistance

Support	24,600-24,200
Resistance	24,800- 25,000

Analysis for Monday: Bank NIFTY

Analysis For Monday, the Bank NIFTY might rise over 52,000 or fall below 51,300, depending on global influences. Bank Nifty consolidated at 51,318, making its loss less severe than the Nifty. It has historically underperformed and may continue to do so. On the weekly chart, the Bank Nifty has created an inside bar pattern. The resistance levels are 52,000-52,500, while the support levels are 51,300-50,500.