Morning Action @ 7 AM – Friday, August 8th 2025

# Gift Nifty is indicating a cautious start for the benchmark Nifty.

# That brings us to our call of the day which suggests volatility is likely to be the hallmark of the day, as the benchmark is most likely to open a bit lower but the good news is that downside for the day is likely to be well supported.

# Blame it on President Donald Trump’s latest announcement on the new tariffs against India, designed to penalize it for buying oil from Russia.

#  India is getting the rough end of Trump’s trade war!

# We will spy with one big eye if Nifty is able to claw out of its red start and takes over the tariff hike on its stride.

# Helping sentiments this Friday morning are improving leads from Wall Street and Asian stock markets which suggest Fed Governor Christopher Waller is a leading contender to head the US central bank, bolstering market bets on a September rate cut.

# Bottom-line: Nifty is likely to consolidate with bulls praying that Nifty does not slip below its major inter-week support placed at 24344 mark.

# 7:00 AM GLOBAL UPDATE:
GIFT Nifty ????????: (-46, 24649)
Dow Futures: (+116, 44085)
Nasdaq 100 Futures (+76, 23466)

Nikkei (+821, 41881)
Hang Seng (-113, 24968)

Dow Jones (-224, 43960)
Nasdaq Composite (+73, 21243)
Bovespa (+1990, 136528)

# MARKET TRENDS:
Global cues: Positive
FII: (-4997.20 crores)
DII: (+10864 crores)
Sentiment: Risky
Market Breadth: Negative
Technicals: Breaking down
F&O: 23500 - 25300 zone.

# INDIA VIX 11.68 (-2.34%)
# USD/INR Futures (Aug) (87.78)
# NIFTY PCR (28th Aug) 0.99
# Bank Nifty PCR (28th Aug) 0.80

# Nifty Outlook: Caution will continue to be buzzword amidst signs of higher tariffs.

# WHAT TECHNICALS TELLS US ON NIFTY & BANK NIFTY:

NIFTY (CMP 24596):
SUPPORT: 24344/24050
RESISTANCE: 24700/24857
RANGE: 24450-24750
BIAS: Neutral
21 DMA: 24932
50 DMA: 25034
200 DMA: 24045

SENSEX (CMP 80623):
SUPPORT: 79811/79300
RESISTANCE: 81100/81700
RANGE: 80100-81100
BIAS: Neutral
21 DMA: 81730
50 DMA: 82117
200 DMA: 79202

BANK NIFTY (CMP 55521)
SUPPORT: 54973/53483
RESISTANCE: 56100/57207
RANGE: 54900-55900
BIAS: Neutral
21 DMA: 56392
50 DMA: 56423
200 DMA: 52663

WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

# Nasdaq notches a record high in Thursday’s trade while the Dow Jones and the S&P 500 end in red as tariffs start to kick in.

# The biggest positive catalyst in overnight trade at Wall Street: According to CME FedWatch, traders now see a 91–93% chance of a 25 bps Fed rate cut in September.

# Gold prices ($3390 per ounce) trades firm, the highest in two weeks driven by rising expectations of a Federal Reserve rate cut as well as safe-haven demand.

# WTI crude oil futures were seen trading with negative bias at the $63.50 per barrel after OPEC+’s decision to raise output and growing geopolitical uncertainty.

# STOCK MARKET NEWS:

# Volatility and choppiness are lily to be hallmark of the day’s trading amidst 9-catalysts:

1) Tariffs on many countries have kicked-in. Sectoral levies and China trade talks remain uncertain.

2) Please note, US President Donald Trump has doubled tariffs on India from 25% to 50% (Of this 50%, the additional 25% tariffs, however, will kick in from August 27).

3) India has been really hit hard on the tariff front as the Trump administration is targeting New Delhi for purchasing Russian arms and energy.

That said there is still hope as the sixth round of talks for tariff front starts on August 25 in New Delhi.

4) India’s Prime Minister Narendra Modi tells Indian farmers he will ‘never compromise’ in face of 50% US tariffs

5) Meanwhile, reports suggests that Donald Trump and Vladimir Putin are set to meet in coming days.

6) FII selling: Last week, FIIs were net sellers to the tune of Rs. 20524 crores. This week too, FIIs have sold to the tune of Rupees 12585.30 crores.

7) Uninspiring Q1FY26 by Indian corporates.

8) The Indian rupee has extended its fall towards 87.78.

9) RBI keeps Repo rates unchanged at 5.5% stance also was kept Neutral. The street perceives as hawkish.

# Long Story Short: Volatility and choppiness could be the order of the day.

# All eyes will be also on corporate India’s Q1 earnings season:

Friday, August 8th 2025:
GRASIM
GRSE
MANAPPURAM
NAUKRI
SBI
TATA MOTORS
VOLTAS
WOCKHARDT PHARMA.

# Our call of the day suggests the biggest support on Nifty is now placed at 24344 mark.

As long as the Nifty’s 24344 mark is a support, traders can look to buy Nifty on any intraday early lower open.

# Stocks on Spotlight:

1) TCS (+0.48%) gained on reports that the firm is looking to roll out salary hikes for 80% of staff starting September 1.

2) Adani Power (+2.03%) zoomed higher receives LoI for 2,400 MW thermal plant in Bihar's Bhagalpur

3) Jindal Stainless Steel (+1.38%) gained reported a net profit of Rs 714 crore for Q1 FY26. This marks a 10% on-year rise from the Rs 648 crore net profit reported in Q1 FY25. The firm’s revenue from operations meanwhile rose to Rs 10,207 crore.

# Here is the preferred trade on Nifty and Bank Nifty:

Nifty (24596): Buy on dips between 24450-24500 zone. Stop at 23901. Targets 24857/25050. Aggressive targets at 25300 mark.

Bank Nifty (55521): Buy at CMP. Stop at 54601. Targets 56000/56600. Aggressive targets at 57600 mark.

# Our chart of the day is bearish on TVS MOTORS, M&M, and MARUTI on any early excessive intraday weakness with an interweek perspective.

# The 1 Stock to Buy Right Now: BUY MARUTI (CMP 12632): Buy at CMP. Stop at 12101. Targets 13087/13501. Aggressive targets at 14151. (Interweek Strategy). Rationale: Signalling a massive breakout on the upside. Aiming unchartered territories. Key interweek support 12221. Major hurdles only at 13501 mark. 200-DMA at 11982.

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