Market wrap up(DWM,T,N,E):The Nifty 50 closed the F&O expiry session with an 87-point loss on July 31, following the announcement of a 25 percent tariff by the US on India. Technical indicators signaled sideways action in the frontline indices amid the prevailing bearish sentiment. As long as the index trades below the 20-day and 50-day EMAs, consolidation may continue, with 24,600 (which coincides with the 100-day EMA) acting as strong support. On the higher side, 25,000 is seen as a crucial resistance zone—only a decisive move above it may turn the trend favourable for the bulls, according to experts. The Nifty 50 formed a bullish candle with a long upper shadow on the daily timeframe, indicating selling pressure at higher levels despite a sharp recovery from the day’s low. The index remained below both the short-term (20-day EMA) and medium-term (50-day EMA) moving averages, which are critical for any sustained upside. Momentum indicators offered mixed signals. The RSI at 40.91 maintained a bearish crossover and reflected sideways action, the MACD remained below the zero line, although histogram weakness waned slightly. The Stochastic RSI showed a bullish crossover. Altogether, these suggest continued consolidation. The Bank Nifty formed a bullish candle with a long upper shadow and a minor lower shadow on the daily timeframe, reflecting selling pressure at higher levels amid intraday volatility. The index failed to defend its 50-day EMA, signaling ongoing bearish sentiment. The RSI at 42.02 continued to trend lower. The MACD remained below the zero line, with the histogram showing further weakness. This combination of indicators points to sustained pressure on the index unless key resistance levels are reclaimed.
