Nifty on track to record worst July since 2019. August becomes make-or-break battle

Indian equities face their worst July since 2019, dragged down by disappointing Q1 earnings, especially in the IT sector, and delays in the India-US trade deal. Despite FII outflows, domestic support and technical levels suggest a potential August recovery. Analysts eye trade deal progress and improved earnings guidance as key catalysts for a rebound.