Nifty: Bulls See Lower Wick with 8 Green Candles to Storm Street

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Nifty Stages Dramatic V-Shaped Reversal with Massive Investors’ Interests in Stocks with Q1FY26 Results

By S JHA

MUMBAI, August 8, 2025 — On the weekly expiry day, the Nifty 50 delivered high drama, opening with a gap-down below the key 24,500 mark before slipping to an intraday low of 24,344.1. Expiry-related selling pressure dominated much of the session, but in the penultimate hour, the index staged a sharp V-shaped reversal, clawing back over 200 points and closing with marginal gains of 0.09% at 24,594.45.

“The turnaround left a prominent lower wick on the daily chart and produced eight straight green candles on the 15-minute chart — a pattern often viewed as a potential bear trap and a sign of short-term momentum shifting toward the bulls,” said Angel One in a note sent to its clients.

Analysts claimed that the stock market has now begun moving beyond US President Donald Trump’s tariff announcements. The market is seeing signals that not much dramatic impact will be for India even if Trump persists with his tariff measures, said a market participant.

Besides, heavy actions are unfolding in the stock market with scores of stocks showing resilience. Recently listed NSDL clocked back-to-back upper circuit of 20% to catch investors off-guard. Now, investors are taking a fresh look at listing on the stock market.

IT stocks led the rebound, emerging as the day’s top gainers after a recent correction made valuations more attractive. Pharma shares also posted strong gains, while infrastructure, energy, and realty stocks ended in the red.

Hero MotoCorp was the session’s standout performer among Nifty constituents, surging over 4%. On the downside, Adani Ports and Adani Enterprises were the top laggards.

Despite an ongoing US–China tariff war, global sentiment remained upbeat. US markets ended higher overnight, which supported rallies in Asian and European equities.

“Heavy put writing between the 24,400 and 24,600 strike prices indicates a strong support zone. Immediate resistance lies at 24,750 — a level the index has failed to clear twice this week,” added Angel One in its note. The brokerage firms also stated that a decisive break above this barrier could reignite the primary uptrend, while the late-session surge reinforces a buy-on-dips approach, with 24,500 and 24,350 as key downside supports.

Friday’s session is expected to be pivotal as traders watch for confirmation of the market’s next directional move.

Disclaimer: This article makes no recommendation for any kind of trades in the stock market.