Nifty 50, Sensex and the Nifty Bank index came down slightly last week. The benchmark indices were down in the range of 0.4-0.85 per cent for the week. However, this has not altered the broader structure on the charts. The bias continues to remain positive. Supports are there to limit the downside for all three indices. We expect the benchmark indices to sustain above their support and rise back going forward.FPIs BuyThe Foreign Portfolio Investors (FPIs) bought Indian equities for the fourth consecutive week. The equity segment saw a net inflow of about $388.63 million. The FPI action in the coming weeks will need a close watch. If they continue to buy, then that could be a very good positive sign for the Indian markets from a long-term perspective.
Nifty and Nifty Bank Prediction for the week 03 Aug’26 to 07 Aug’26 by BL GURU
Nifty has risen back well above 24,000 again. The support at 23,600 has held very well. This has avoided the danger of seeing a deeper fall, as cautioned last week. We expect the Nifty to break its immediate resistance and go further higher going forward.
Nifty has resistance at 24,500. A break above it can take the #nifty50 higher to 24,750-24,800.
The Nifty Bank index can rise to 58,500-59,000 on a break above 57,500.Video Credit: BusinesslineNifty 50 (24,366)Short-term view: Nifty has found support around 24,250 last week. Near-term resistance is around 24,500. If Nifty manages to sustain above 24,250 and breaks above 24,500, then that would ease the downside pressure. Such a break can take the index higher to 24,750-24,800 in the coming weeks. An eventual break above 24,800 will then clear the way for a rise to 25,200-25,400.In case the index declines below 24,250 from here, a fall to 24,000-23,950 can be seen, but not beyond that. After this fall, Nifty can rise back towards 24,500 and higher again.Medium-term view: The broader 22,000-26,500 range remains intact. The expected break above 24,800 can take the index up towards the upper end of this range. The bias continues to remain positive to see a bullish breakout above 26,500. Such a break can take the Nifty up to 28,000 and 30,000 in the long term.To negate this bullish view, Nifty must break 22,000. But that looks less likely now. It will need some strong and new negative trigger.Nifty Bank (57,491.10)Short-term view: The index remained lower but stable all through the week. Key support is in the 57,000-56,700 region. A dip to test this support zone this week cannot be ruled out. However, a fall below 56,700 is less likely.Nifty Bank index can rise to 59,000-60,000 in the short term. This rise can happen either from here itself or after a dip to 57,000-56,700.The short-term picture will turn negative only if the index breaks below 56,700. If that happens, a fall to 56,000 can be seen.Medium-term view: The overall bullish view is intact. The upmove can gain momentum on a break above 60,000. That in turn can take the Nifty Bank index up to 65,000 in the medium term and 68,000-69,000 in the long term.As mentioned last week, series of supports are there at 55,000, 53,000 and 50,000. Our bullish view will go wrong only on a break above 50,000.Sensex (78,009.25)Short-term view: The price action last week indicates that the Sensex is getting fresh buyers around 77,500. If it manages to get a strong follow-through rise from here, then 78,800-79,000 can be seen this week. It will also keep the upside open to see 80,000 and 82,000 in the short term.In case the index breaks below 77,500, then a fall to 76,000-75,800 can happen first. Thereafter, a fresh rise can take the Sensex higher to 78,000-79,000 and higher eventually.Medium-term view: Sensex is now oscillating in the middle of its broad 71,000-86,000 range. We expect the index to go up towards 86,000, the upper end of the range in the coming months. The above-mentioned rise to 81,000-82,000 can clear the way for the rise to 86,000.The broader bias remains positive. We expect the Sensex to breach 86,000 eventually and rally to 90,000 and even 94,000 in the long term.For this bullish view to go wrong, Sensex has to decline below 71,000. But that looks unlikely at the moment.Nifty Midcap 150 (23,420)The index is oscillating inside the 23,300-23,500 resistance zone. The struggle to get a decisive break above 23,500 continues.But at the same time, the Nifty Midcap 150 index has not come down significantly. That indicates lack of strong sellers in the market, which is a positive sign. It also keeps the chances alive of getting a decisive breakout above 23,500. Such a break can take that Nifty Midcap 150 index higher to 26,000-26,500 in the medium term. That will also strengthen the bullish case to see 28,000-28,500 on the upside over the long term.Immediate support is in the 23,300-23,200 region. A break below 23,200 will turn the short-term outlook negative. In that case, a fall to 22,800 can be seen. However, such a fall will not disrupt the long-term bullish outlook. It will only delay the rally to 26,500 and 28,500, as mentioned above.Nifty Smallcap 250 (18,278.80)The Nifty Smallcap 250 index has come down below 18,300 after failing in its several attempts to rise above 18,400. A fall to 18,200 or even 18,000 looks possible in the near term. But a fall below 18,000 is less likely.A bounce anywhere from the 18,200-18,000 region can take the index higher to 18,300-18,400 again.The bias continues to remain bullish. As such, we expect the index to breach 18,400 eventually. Such a break can take the Nifty Smallcap 250 index higher to 22,500-23,000 in the medium term and 24,000-25,000 in the long term.The short-term picture will turn negative if the index declines below 18,000. If that happens, then an extended fall to 17,500-17,400 can be seen. Such a fall will delay the rise to 23,000 and 25,000 mentioned above.Published on August 15, 2026
