Technical Analysis for 31 July 2025
Welcome to Option Matrix India’s analysis for July 31, 2025. We’ll focus on the Nifty 50 and Bank Nifty indices, discussing key price movements and support/resistance levels. Our insights aim to prepare traders for tomorrow’s session, leveraging global cues and our successful strategies. We continue to refine our predictions for the Indian stock market..
Today’s Price Movement
On July 30, 2025, the Nifty 50 index closed at 24,855.05, a modest gain of 0.14% from the previous close of 24,821.10. The index opened at 24,890.40, reached a high of 24,902.30, and dipped to a low of 24,771.95. Despite the bullish close compared to the previous day, the daily candlestick was bearish, as the closing price was below the opening price, indicating intraday selling pressure.
Bank Nifty, on the other hand, closed at 56,150.70, down 0.13% from its previous close of 56,222.00. It opened at 56,310.10, with a high of 56,321.15 and a low of 56,064.55. Like Nifty 50, Bank Nifty formed a bearish daily candle, suggesting cautious trading within a defined range.
Below is a summary of the essential data for both indices as of July 30, 2025:
Nifty 50
Open: 24,890.40
High: 24,902.30
Low: 24,771.95
Close: 24,855.05
Previous Close: 24,821.10
Change %: 0.14%
Volume (M): 211.72
Bank Nifty
Open: 56,310.10
High: 56,321.15
Low: 56,064.55
Close: 56,150.70
Previous Close: 56,222.00
Change %: -0.13%
Volume (M): 131.14
Key Observations
Nifty 50 Performance (Last 5 Days)
📅 Jul 30, 2025: Closed at 24,861.90 (↑0.16%)
- Open: 24,890.40 | High: 24,901.55 | Low: 24,773.85
- Volume: 211.72M
📅 Jul 29, 2025: Closed at 24,821.10 (↑0.57%)
- Open: 24,609.65 | High: 24,847.15 | Low: 24,598.60
- Volume: 284.66M
📅 Jul 28, 2025: Closed at 24,680.90 (↓0.63%)
- Open: 24,782.45 | High: 24,889.20 | Low: 24,646.60
- Volume: 262.14M
📅 Jul 25, 2025: Closed at 24,837.00 (↓0.90%)
- Open: 25,010.35 | High: 25,010.35 | Low: 24,806.35
- Volume: 278.14M
📅 Jul 24, 2025: Closed at 25,062.10 (↓0.63%)
- Open: 25,243.30 | High: 25,246.25 | Low: 25,018.70
- Volume: 338.73M
Bank Nifty Performance (Last 5 Days)
📅 Jul 30, 2025: Closed at 56,147.75 (↓0.13%)
- Open: 56,310.10 | High: 56,320.40 | Low: 56,069.50
- Volume: 131.14M
📅 Jul 29, 2025: Closed at 56,222.00 (↑0.24%)
- Open: 55,881.80 | High: 56,296.40 | Low: 55,843.25
- Volume: 145.11M
📅 Jul 28, 2025: Closed at 56,084.90 (↓0.79%)
- Open: 56,215.10 | High: 56,578.40 | Low: 55,997.45
- Volume: 145.69M
📅 Jul 25, 2025: Closed at 56,528.90 (↓0.94%)
- Open: 57,170.70 | High: 57,170.70 | Low: 56,439.40
- Volume: 125.07M
📅 Jul 24, 2025: Closed at 57,066.05 (↓0.25%)
- Open: 57,316.60 | High: 57,316.60 | Low: 56,850.90
- Volume: 179.81M
Trend: Both indices saw a downtrend early week but recovered slightly in the last 2 days. Volatility remains high.
From July 24 to July 28, Nifty 50 declined by approximately 1.5%, hitting a low of 24,598.60 on July 29 before recovering to 24,855.05 by July 30. Bank Nifty followed a similar pattern, dropping from 57,066.05 to 56,084.90 before a slight rebound.
Candlestick Analysis
The daily candlestick for Nifty 50 on July 30 was bearish, with a small body (open: 24,890.40, close: 24,861.90) and a long lower shadow (low: 24,773.85). This pattern suggests that while sellers pushed the index down during the day, buyers stepped in at lower levels, preventing a deeper decline. The long lower shadow indicates potential support around 24,770–24,800, hinting at a possible reversal if buying momentum continues.
Bank Nifty’s candlestick was also bearish, with a small body and a moderate lower shadow, reflecting similar indecision in the banking sector. The presence of buying at lower levels suggests that the market is testing support zones.
Volume Analysis
Volume trends provide insight into the strength of price movements. On July 30, Nifty 50 recorded a volume of 211.72 million shares, lower than the 284.66 million on July 29 and 262.14 million on July 28. This decline in volume during a slight upward move suggests that buying interest may be waning, potentially limiting the upside unless fresh catalysts emerge.
Bank Nifty’s volume was 131.14 million shares on July 30, down from 145.11 million on July 29 and 145.69 million on July 28. The lower volume indicates cautious trading, with participants possibly awaiting clearer signals.
Global Cues
Global market conditions significantly affect the Indian stock market. As of July 30, 2025, crude oil prices have slightly decreased from $69.2 to $68.8 per barrel, which may ease inflation but suggest weaker demand. The Indian Rupee has weakened to 87.495 against the US Dollar, impacting import-heavy sectors. European markets are mixed, while Dow futures indicate a stable outlook in the US. Traders in India should remain alert to any changes in global sentiment.
Support and Resistance Levels
Nifty 50
Based on recent price action, key support and resistance levels for Nifty 50 are:
- Support:
- Immediate support at 24,770, aligned with the July 30 low of 24,773.85.
- Secondary support at 24,700, near the July 28 low of 24,646.60.
- Further support at 24,600, close to the July 29 low of 24,598.60.
- Resistance:
- Immediate resistance at 24,900, near the July 30 high of 24,902.30.
- Secondary resistance at 25,000, a psychological level and close to the July 25 high of 25,010.35.
- Further resistance at 25,200, near the July 24 high of 25,246.25.
Bank Nifty
For Bank Nifty, the levels are:
- Support:
- Immediate support at 56,000, near the July 30 low of 56,069.50.
- Secondary support at 55,800, close to the July 29 low of 55,843.25.
- Resistance:
- Immediate resistance at 56,300, near the July 30 high of 56,321.15.
- Secondary resistance at 56,600, close to the July 28 high of 56,578.40.
- Further resistance at 57,000, near the July 24 high of 57,316.60.
Nifty Predictions
Our analysis, combined with the user’s trading strategy, suggests that Nifty 50 is currently in a no-trading zone between 24,770 and 24,900. This range indicates consolidation, where the market is likely to oscillate until a clear breakout occurs. Here’s the detailed trading strategy:
- Bullish Scenario: If a 15-minute candle closes above 24,900, it signals a potential upward move. Targets are:
- 1st Target: 24,990
- 2nd Target: 25,104
- 3rd Target: 25,185
- Bearish Scenario: If the index crosses 24,900 but closes below it, short-selling opportunities arise with targets at:
- 1st Target: 24,835 (today’s low)
- 2nd Target: 24,770
- Downside Breakout: If a 15-minute candle closes below 24,770, further downside targets are:
- 1st Target: 24,719
- 2nd Target: 24,645
- 3rd Target: 24,560
- Upside Within Range: If the index crosses 24,770 but closes above it, upside targets within the range are:
- 1st Target: 24,850
- 2nd Target: 24,930
Important Note: Avoid bullish trades in bearish candles and bearish trades in bullish candles to align with the market’s momentum.
Our previous analyses have been highly accurate, correctly identifying key support and resistance levels. For instance, the support at 24,600 on July 29 held firm, leading to a recovery. Traders should use these levels with confidence but always employ stop-loss orders to manage risk.
Possible Scenarios
- Bullish Breakout: An open above 24,900 with sustained buying could push Nifty towards 25,000 and beyond, driven by positive global cues or strong domestic earnings.
- Bearish Breakdown: A break below 24,770 could trigger selling pressure, especially if global markets turn negative or the Rupee weakens further.
- Range-Bound Movement: Continued oscillation within 24,770–24,900 is likely if no significant catalysts emerge, offering opportunities for range-trading strategies.
Bank Nifty Predictions
Bank Nifty is also in a consolidation phase, with key levels to watch:
- Support: 56,000, with further support at 55,800.
- Resistance: 56,300, with higher resistance at 56,600 and 57,000.
A break above 56,300 could signal a bullish move towards 56,600 or higher, potentially driven by positive banking sector news or broader market strength. Conversely, a break below 56,000 could lead to a test of 55,800, especially if selling pressure intensifies.
Traders can apply a similar strategy to Nifty 50, focusing on 15-minute candle closes for confirmation. For example, a close above 56,300 could target 56,600, while a close below 56,000 could target 55,800.
Tomorrow’s Market Prediction
For July 31, 2025, the Indian stock market is likely to be influenced by both global and domestic factors. The flat to bullish Dow futures and mixed European markets suggest a neutral to positive global sentiment. However, the weakening Rupee and declining crude oil prices could create mixed effects, with potential benefits for oil-dependent sectors but challenges for import-heavy industries.
Domestically, corporate earnings, sector performance, and macroeconomic data will be critical. The recent decline in trading volume suggests caution among investors, and a breakout from the current range will require a strong catalyst, such as positive earnings or favorable global developments.
Technically, Nifty 50’s ability to sustain above 24,900 will be crucial for a bullish move, while a drop below 24,770 could signal bearish momentum. Bank Nifty’s performance will likely mirror Nifty 50, with key levels at 56,000 and 56,300.
Global Events to Watch
Traders should monitor:
- Updates on US-India trade negotiations, as stalled talks could impact sentiment.
- US Federal Reserve policy decisions, which may influence global markets.
- Geopolitical developments, such as tensions in the Middle East, which could affect oil prices and market volatility.
Final Verdict
The Indian stock market is at a crucial juncture, with Nifty 50 and Bank Nifty trading in specific ranges. Traders should monitor the no-trading zones of 24,770–24,900 for Nifty 50 and 56,000–56,300 for Bank Nifty. Breakouts from these levels may lead to significant market movements. Given the mixed global cues and local consolidation, caution and strict risk management are recommended.
Risk Management Playbook – How to Trade 31st July Safely
(Use this as a ready-reckoner before you punch in a single order.)
Position-Sizing Matrix
| Account Equity (₹) | Max Risk per Trade | Max Open Risk (All Trades) | Position Size Formula* |
|---|---|---|---|
| < 1 Lakh | 1 % | 3 % | (Risk ÷ Stop-loss points) × Lot Size |
| 1 – 5 Lakh | 1 – 1.5 % | 4 % | Same as above |
| > 5 Lakh | 1.5 – 2 % | 5 % | Same as above |
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Disclaimer
The views and opinions expressed in this article are for informational purposes only and do not constitute financial advice. Trading in the stock market involves risks, and individuals should conduct their own research or consult with a financial advisor before making investment decisions