Nifty and Nifty bank index fell for the sixth consecutive week. The US levying a 25 per cent tariff initially and then increasing it to 50 per cent later and the strong foreign money (FPI) outflows are weighing on the Indian markets. The FPIs have pulled out over $4.5 billion from the Indian equities over the last four weeks.
On the charts, the short-term picture continues to remain negative, and the indices can fall more from here.
Nifty can fall to 24,200 and 24,000. Thereafter it can bounce back to 24,500-24,600. In case the Nifty breaks below 24,000, there can be an extended fall to 23,700-23,650.
Nifty Bank index has an immediate support at 54,850-54,750. A bounce from there can take it back up to 56,000-56,500. But a break below 54,750 can drag it down to 54,000 and even 53,500.
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Published on August 9, 2025
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