Probable Scenario Analysis and Trade Plan for the Nifty 50 Index 
NIFTY for the 06th of August, 2026. The day is Thursday.
🟢 Bullish Scenario
Presently, there is no bullish scenario. The zone (24700 - 24650) is a strong resistance zone (SRZ). If the price sustains above 24700 and forms a strong 30-minute green bullish candle, a bullish scenario would emerge. Wait for price sustainability above 24700. The probable bullish targets above 24700 would be - 24750, 24800, and 24850.
🔴 Bearish Scenario
Presently, there is no bearish setup. The market is sideways. The zone (24600 - 24500) is a strong support zone (SSZ). If the price decisively breaks down below 24500, then a bearish scenario would emerge. The probable targets below 24500 would be - 24450 and 24400.
🟡 No Trading Zone (NTZ): (24700 - 24500).
⏺ Range of Consolidation (ROC): (24700 - 24500).
Here, 24600 is the median of the ROC. The median works like a trading session sentiment evaluator. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment within the ROC.
● Event
SENSEX weekly expiry is on Thursday. Expect price anomalies on the expiry days. There are no holidays this week. Lastly, geopolitical events are omnipresent and beyond our analysis.
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
NIFTY for the 06th of August, 2026. The day is Thursday.🟢 Bullish Scenario
Presently, there is no bullish scenario. The zone (24700 - 24650) is a strong resistance zone (SRZ). If the price sustains above 24700 and forms a strong 30-minute green bullish candle, a bullish scenario would emerge. Wait for price sustainability above 24700. The probable bullish targets above 24700 would be - 24750, 24800, and 24850.
🔴 Bearish Scenario
Presently, there is no bearish setup. The market is sideways. The zone (24600 - 24500) is a strong support zone (SSZ). If the price decisively breaks down below 24500, then a bearish scenario would emerge. The probable targets below 24500 would be - 24450 and 24400.
🟡 No Trading Zone (NTZ): (24700 - 24500).
⏺ Range of Consolidation (ROC): (24700 - 24500).
Here, 24600 is the median of the ROC. The median works like a trading session sentiment evaluator. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment within the ROC.
● Event
SENSEX weekly expiry is on Thursday. Expect price anomalies on the expiry days. There are no holidays this week. Lastly, geopolitical events are omnipresent and beyond our analysis.
● Intraday, Weekly, and Monthly Bias
Establish bias with respect to the opening price (of the particular session - Intraday, Weekly, and Monthly). If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.