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Nifty and Financial institution Nifty Prediction for the week 05 Aug’24 to 09 Aug’24 by BL GURU

lobal fairness markets have come beneath strain because the concern of a #recession within the #US has resurfaced after the weak financial information releases final week. The preliminary set off for the autumn in equities got here from the #PMI information launch on Thursday and the #jobsdata launch on Friday has added extra gasoline to it.

On the charts, the fairness indices have began to come back down from a vital resistance. That leaves the possibilities excessive to see extra fall within the #dowjones, #nifty50, #banknifty from present ranges.

#Nifty can fall to 24,450 and even 24,100. We will count on a bounce from round 24,100 initially after which you will need to see if that bounce is sustaining or not.

#NiftyBank index can fall to 50,500. Failure to bounce again after that may drag the #bankniftyindex right down to 50,000 and even 49,500-49,000. In case the #niftybankindex manages to bounce from 50,500, a variety of fifty,500-52,500 is a risk.

#DowJones is trying bearish. It might probably break its instant help at 39,200 and fall to 38,200 within the coming weeks.

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