Idea on nifty for 7/8/25

Nifty open with 60 points gap down as per SGX NIFTY around at 24520 where nifty has consist support level for nifty. Nifty has been consolidated between 24800 to 24500 levels which is suggested investors are awaited for decisively breakout either side in the nifty. Trump had imposed another 25% hike on indian imports which is majorly impacted on specific sectors like AUTO, PHARMA, TEXTILES, IT Etc. The RBI Governor Malhotra said that tariffs impact is much lower on Indian economy because domestic factor's are more contributed than exports in the economy. Rbi paused rate cut which is not impacted on Indices because the decision has been already priced in by the market participants.

Stock of the day : Coforge is trading around its 200 day EMA after falling from its peaks. So I am expecting short recovery at current levels. Buy around 1630 stop loss : 1600 tgt : 1706

Support levels : 24503,24450
Resistance levels : 24707,24640

Disclimer : I AM NOT A SEBI RESEARCH ANALYST OR FINANCIAL ADVISOR, these recommendations are only for education purpose, not for trading and investment purpose please take an advise from your financial advisor before investing on my recommendations.

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