Stock Market Technical Analysis | 3rd to 7th Aug 2026 Weekly Wrap

Nifty 50 gained 0.77% to close at 24,571, while Bank Nifty advanced 0.84% to 57,746. PSU Banks led sectoral performance, FII and DII remained net buyers, and India VIX increased 3.42% to 12.16. Derivatives data indicated notable open-interest concentration around 24,600 on the call side and 24,500 on the put side.

Expert recommendation by:

• Mr. Ketan Kaushik - Derivative Analyst

Equity

• Benchmark Index traded with positive bias in the previous week before closing with 0.77% gain at 24,571 level. Banking Index outperformed the benchmark index as it closed with 0.84% gain at 57,746 level.
• Among the Nifty constituents, HINDALCO and GRASIM outperformed the benchmark index as they closed with 8.74% and 7.17% gains while BAJFINANCE and POWERGRID underperformed as they closed with 5.54% and 4.45% cut respectively. Among the Bank Nifty constituents UNIONBANK outperformed the benchmark index as it closed with 7.22% gain while HDFCBANK underperformed the benchmark index as it closed with 2.29% cut.
• Among sectors, NIFTYPSUBANK index outperformed the benchmark index during the previous week as it closed with 5.01% gain while NIFTYMEDIA index underperformed as it closed with 3.94% cut. Both MIDCAP and SMALLCAP index outperformed the benchmark index as it closed with 0.87% gain and 2.73% gains respectively.
• Volatility index (India VIX) closed with 3.42% gain at 12.16 level.
• Both FII and DII were net buyers as they bought stocks worth Rs 2,887 Cr and 7,767 Cr respectively during the previous week in the cash segment.
• Globally, equity markets traded with a positive bias as both US market (DJIA) and European market (STOXX 600) closed with 2.96% and 1.70% gains respectively.

Derivatives

• Derivatives data for Nifty suggest max OI addition at 24600 call and 24500 put side with max OI at 24600 call and 24000 put side (11th Aug expiry). Nifty cumulative PCR closed at 0.89 for Aug 07.
• Derivatives data for Bank-nifty suggest max OI addition at 58500 call and 55000 put side with max OI at 58000 for both call and put side (25th Aug expiry). Bank-nifty cumulative PCR closed at 0.94 for Aug 07.

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Performance:

Indices

Source: NSE

Sector Gainers/Losers

Source: NSE

FII / DII ACTIVITY (WEEKLY)

Source: NSE

SUPPORT/RESISTANCE LEVEL FOR UPCOMING WEEK

Source: NSE

DAILY EXPONENTIAL MOVING AVERAGE

Source: NSE

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

• Benchmark index traded with a positive bias in the previous week before closing with indecisive (Doji) candlestick formation on the weekly chart
• Benchmark index is likely to trade volatile in the coming week
• Benchmark Index has support at 24,200–24,000 level and resistance at 25,000–25,200 level

BANK NIFTY (WEEKLY)

• Banking index outperformed the benchmark and closed with indecisive candlestick formation on the weekly chart
• Banking index is likely to perform in line with the Benchmark index in the coming week
• Banking index has support at 56,800-56,300 and resistance at 59,000-59,500 level

FIN NIFTY (WEEKLY)

• FINNIFTY index underperformed the banking index and closed with a bearish candlestick formation on the weekly chart
• FINNIFTY is likely to trade in line with the banking index in the coming week
• FINNIFTY has support at 26,000-25,800 level and resistance at 27,000-27,200 level.

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Market FAQs – Weekly Summary

How did Nifty perform last week?

Nifty 50 gained 0.77% during the previous week and closed at 24,571.

How did Bank Nifty perform last week?

Bank Nifty gained 0.84% and closed at 57,746 during the previous week.

Which Nifty stocks performed best?

Hindalco and Grasim were among the strongest Nifty constituents, gaining 8.74% and 7.17%, respectively.

Which Nifty stocks underperformed?

Bajaj Finance and Power Grid were among the notable underperformers, declining 5.54% and 4.45%, respectively.

Which sector performed best last week?

Nifty PSU Bank was the strongest-performing sectoral index, gaining 5.01% during the week.

What happened to India VIX?

India VIX increased 3.42% to close at 12.16, indicating a rise in the market's volatility gauge.

What were FII and DII flows?

FII were net buyers of ₹2,887 crore, while DII were net buyers of ₹7,767 crore in the cash segment during the week.

What does Nifty open interest indicate?

Derivatives data showed maximum open-interest addition around the 24,600 call and 24,500 put strikes. Open interest should be assessed alongside price, volume and other market indicators.

What was the Nifty cumulative PCR?

Nifty's cumulative put-call ratio (PCR) stood at 0.89 as of August 7, based on the stated derivatives data.

What was the Bank Nifty cumulative PCR?

Bank Nifty's cumulative PCR stood at 0.94 as of August 7, based on the stated derivatives data.

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• India VIX Explained
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