On Thursday, market sentiment opened weak with both the Nifty 50 and Sensex declining, though they managed to recover significantly from their intraday lows by the close, helped by improving investor sentiment amid ongoing trade negotiations. Despite the early losses, key indices remained above their long-term moving averages, indicating underlying resilience.
Sectorally, most indices ended in the red. FMCG was the notable exception, showing strong positive momentum driven by robust performance from major stocks. On the other hand, Oil & Gas was the worst-performing sector, pressured by geopolitical concerns and proposed tariffs. Pharma and Metal sectors also faced selling pressure. Asian markets mirrored the negative tone, following a broad regional decline. However, U.S. futures indicated a slightly optimistic outlook later in the day.
In this overview, we will analyse the key technical levels and trend directions for Nifty and BSE Sensex to monitor in the upcoming trading sessions. All the charts mentioned below are based on the 5-minute timeframe.
Nifty 50
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
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The Nifty 50 Index opened on a negative note with a gap-down start at 24,642.25 on Thursday, down by -212.8 points from Wednesday’s closing of 24,855.05. In the morning session, the Nifty Index recovered from the start while making the day’s low at 24,635.00 but later surged above the 24,850 level. Trading above its opening level, it was trading in the range of 24,600 to 24,850 in the morning session.
It was trading below the 200 but above the 20/50/100-day EMAs in the 15-minute time frame. In the afternoon session, the Nifty Index lost its momentum and fell below the 24,800 level and closed at 24,768.35 in red. During the afternoon session, it closed below all the 20/50/100/200 EMAs in the 15-minute time frame. Nifty’s immediate resistance levels are R1 (24,949), R2 (25,123), and R3 (25,249), while immediate support levels are S1 (24,659), S2 (24,506), and S3 (24,380).
The Nifty index had reached a day’s high at 24,956.50, closed in red above the 24,800 level, and saw a day’s low at 24,635.00. Finally, it had closed above its opening level at 24,768.35, losing -86.70 points or 0.35%. The Relative Strength Index (RSI) stood at 40.92 (below the overbought zone of 70) in the daily time frame, and the Nifty 50 closed above the 100/200 EMAs and remained below the 20/50 EMA in the daily time frame.
Bank Nifty
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
The Bank Nifty Index started the session on a negative note at 55,728.15 on Thursday, down by -422.55 points from Wednesday’s closing of 56,150.70. In the morning session, the index started with a gap-down by making its day’s low at 55,547.35 but later the index recovered from its low to above the 56,200 level and traded above its opening level. In the morning session, it was trading between the range of 55,500 to 56,200 levels. The Index was trading below the 200 EMAs but above the 20/50/100 in the 15-minute time frame in the morning session.
In the afternoon session, the Bank Nifty index lost its momentum and was dragged down to the 55,950 level from its day’s high of 56,406, closing at 55,961.95. During the afternoon session, it closed below all four EMAs of 20/50/100/200 EMAs in a 15-minute time frame. Bank Nifty immediate resistance levels are R1 (56,406), R2 (56,725), and R3 (56,960), while immediate support levels are S1 (55,876), S2 (55,569), and S3 (55,161).
The Bank Nifty index had peaked at 56,406.20 and made a day’s low at 55,547.35. Finally, it had closed in red at 55,961.95, breaking below the 56,000 level, losing -188.75 points or 0.34%. The Relative Strength Index (RSI) stood at 42.02 (below the overbought zone of 70) in the daily time frame, and Bank Nifty was above the 100/200 EMAs but remained below the 20/50-day EMA in the daily time frame.
Sensex
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
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The BSE Sensex Index opened on a negative note at 80,695.50 on Thursday, down by -786.36 points from Wednesday’s closing of 81,481.86. The Index was more volatile in the morning session; after a gap-down start, the index recovered from its day low of 80,695.15 to 81,461 and neared its previous day’s close; it was traded above its opening level. In the morning session, the index was trading in the range of 80,700 to 81,500 levels and was trading above the 20/50/100 but remained below the 200 EMAs in the 15-minute time frame.
In the afternoon session, the Sensex Index lost its momentum and dragged down to the 81,150 level from its day’s high at the 81,803 level and closed at 81,185.58 in the red. During the afternoon session, it traded below all four 20/50/100/200 EMAs in the 15-minute time frame. BSE Sensex immediate resistance levels are R1 (81,791), R2 (82,306), and R3 (82,778), while immediate support levels are S1 (80,789), S2 (80,018), and S3 (79,308).
The BSE Sensex index had peaked at 81,803.27 and made a day’s low at 80,695.15. Finally, it had closed at 81,185.58, down by -296.28 points or 0.36%. The Relative Strength Index (RSI) stood at 40.81 (below the overbought zone of 70) in the daily time frame, and the BSE Sensex was above the 100/200 EMAs but remained below the 20/50 EMA in the daily time frame.
India VIX
The India VIX increased by 0.34 points, or 3.01%, from 11.20 to 11.54 during Thursday’s session. Increase in the India VIX indicates greater stock price volatility and increased market risk or uncertainty.
Market Recap on 31st July 2025
The Nifty 50 began Thursday’s session on a weak note, opening at 24,642.25, down 212.80 points from the previous close of 24,855.05. It ended the day at 24,768.35, losing 86.70 points or 0.35%, after touching an intraday low of 24,635. The index closed below its 20-day and 50-day EMAs, while the RSI stood at 40.91, remaining well below the overbought level of 70. On the daily chart, however, it managed to stay above the 100-day and 200-day EMAs. The Sensex also declined, ending at 81,185.58, down 296.28 points or 0.36%, with an RSI of 40.81. Despite the early losses, both benchmarks recovered significantly from their lows, buoyed by improved investor sentiment as trade negotiations continued, even amid a proposed 25% tariff on Indian goods by US President Trump.
Most sectoral indices ended in the red. The standout performer was the Nifty FMCG Index, which rose 791.75 points or 1.44%, to close at 55,812.15. The gains were driven by strong performances from Emami Ltd (+6.25%), Godrej Consumer Products (+3.49%), and Hindustan Unilever Ltd (+3.44%). On the downside, the Nifty Oil & Gas Index was the biggest loser, falling 169.25 points or 1.48%, to 11,262.
This decline was due to the impact of Trump’s proposed 25% tariff and penalties on Russian oil imports, which dragged down stocks like Mahanagar Gas Ltd., Adani Total Gas Ltd., Gujarat State Petronet, BPCL, and Indian Oil Corporation by as much as 4%. The Nifty Pharma Index also dropped 302.85 points, or 1.31%, to 22,771, weighed down by losses in Ipca Laboratories, Granules India, Lupin, and Zydus Lifesciences. The Nifty Metal Index closed at 9,285.45, down 114.3 points or 1.22%.
Asian markets followed a similar downward trend. Hong Kong’s Hang Seng fell 403.6 points or 1.6%, to 24,773.33. South Korea’s Kospi declined 9.03 points or 0.28%, to 3,245.44, while China’s Shanghai Composite closed at 3,573.21, down 42.51 points or 1.18%. As of 4:45 p.m. IST, Dow Jones Futures were trading up 119 points or 0.27%, at 44,752.
Trade Setup Summary
The Nifty 50 opened on a negative note at 24,642.25 on Thursday, was more volatile, and also recovered from its day’s low in the morning session but lost momentum in the afternoon session and closed below the 24,800 level at 24,768.35. A break below 24,659 could trigger further selling towards 24,506, while a break above 24,949 could trigger bullishness towards 25,123.
Bank Nifty started the session on a negative note at 55,728.15 but recovered in the morning session, but later in the afternoon session, the index lost its momentum and ended in red at 55,961.95, breaking below the 56,000 level. A break below 55,876 could trigger further selling towards 55,569, while a break above 56,406 could trigger bullishness towards 56,725.
Sensex opened on a similar trend as Nifty 50, opening on a negative note at 80,695.50 on Thursday and ending in red at 81,185.58, breaking below the 81,200 level. A break below 80,789 could trigger further selling towards 80,018, while breaking the next resistance level of 81,791 could lead towards the 82,306 level.
Given the ongoing volatility and mixed sentiments, it’s advisable to avoid aggressive positions and wait for clear directional moves above resistance or below support. Traders should consider these key support and resistance levels when entering long or short positions following the price break from these critical levels. Additionally, traders can combine moving averages to identify more accurate entry and exit points.
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