Nifty is expected to begin the July 8, 2026 session with a gap-down opening amid mixed global cues. Despite the expected weakness at the open, the index continues to trade above both its short-term and medium-term exponential moving averages (EMAs), indicating that the broader trend remains constructive. The immediate focus will be on whether the crucial support zone of 24,263–24,180 holds.

Current Level (CMP): 24,398.70

20-Hour EMA: 24,382

40-Hour EMA: 24,280

20-Day EMA: 24,003

40-Day EMA: 23,913

The index continues to trade above all major moving averages, suggesting that buyers still retain the medium-term advantage despite short-term volatility.

If Nifty successfully holds the 24,263–24,180 support zone after the opening, the index could stabilise and attempt a move towards 24,400, followed by 24,475–24,530 and eventually 24,600.

However, if the support zone fails to hold on a sustained basis, selling pressure may increase, opening downside risk towards 24,068. A deeper decline below that level could shift attention towards the important medium-term trend reversal level near 23,830.

Investor Takeaway

Derivative Pro & Nifty Expert Gulshan Khera, CFP®, observes that the 24,263–24,180 zone remains the most critical support for today's session. As long as Nifty sustains above this range, the broader bullish structure remains intact despite the expected gap-down opening. Traders should wait for confirmation around key levels and maintain disciplined risk management during volatile market conditions.