Market wrap up(DWM,T,N,E):The Nifty 50 fell below its 100-day EMA on August 1, declining by 0.8 percent, marking a negative start to the August series. Momentum indicators signaled a bearish trend with a continued formation of lower highs and lower lows. According to experts, if the index breaks and sustains below the 24,500 support level, the selling pressure may drag it down to the 24,200–24,000 zone. However, in case of a rebound, the 24,700–24,800 levels are key to watch. As long as the index trades below 25,000, consolidation may continue. he Nifty 50 formed a bearish candle on the daily chart, falling below the 100-day EMA on August 1. The index is already trading below the 20-day and 50-day EMAs, all of which indicate a negative sentiment. Momentum indicators such as the RSI stood at 36.01, trending downward, while the MACD remained below the zero line with a weakening histogram — both suggesting that bears have the upper hand. The Bank Nifty also formed a bearish candle on the daily timeframe, falling 0.6 percent and extending its downtrend for the third consecutive session. The index traded below both the 20-day and 50-day EMAs. The MACD remained below the zero line with continued weakness in the histogram. The RSI dropped below the 40 mark to 38.4, accompanied by a consistent bearish crossover in the Stochastic RSI. This further supports the bearish outlook.
