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Bloomberg Quint

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Image Credit: Bloomberg Quint

Trade Setup For July 8: Nifty To Extend Consolidation With Support At 25,300–25,250

  • The Nifty 50 is expected to consolidate further with a positive bias, finding support at 25,300–25,250 and resistance at 25,500–25,600.
  • Analysts suggest traders are cautious due to uncertainty from US trade policy negotiations and key corporate earnings, with the index forming a doji candle signaling market indecision.
  • Bank Nifty is also expected to extend consolidation with key support at 56,000–55,500, with Bajaj Broking Market Research anticipating a range of 56,000-57,500 in upcoming sessions.
  • Immediate support for Nifty lies at 25,222 and 25,120, with resistance at 25,500-25,750 as noted by technical analysts at Choice Broking.

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