Nifty August 1st Week AnalysisNifty 50 IndexNSE:NIFTYIshanMathur05Nifty showed resilience against oil price volatility and the US-Iran war, clinging back to 24,383. In the upcoming week, it will be interesting to watch whether Nifty is able to sustain above 24,300 amid the ongoing global turmoil. In my opinion, 24,300 is a key level for this momentum. If Nifty continues this uptrend, a base level for the upside, in my opinion, is 24,459. If Nifty crosses and sustains above this level, we can expect further momentum up to 24,832–24,940. If Nifty retraces for some reason, the important support range would be 24,241–24,300. If Nifty breaches this support range, the maximum retracement expected, in my opinion, would be up to the 24,000 level.All levels are marked in the chart posted.