Tag: Bank Nifty

  • Indian Stock Market Opens Lower: Nifty 50 Drops 0.59%, Sensex Falls 350 Points on Crude Oil Spike

    Indian Stock Market Opens Lower: Nifty 50 Drops 0.59%, Sensex Falls 350 Points on Crude Oil Spike

    The Indian stock market opened lower on Monday, dragged down by weak global cues amid escalating US-Iran tensions and rising crude oil prices. The Nifty 50 index opened 144.25 points, or 0.59%, lower, while the Sensex fell 350 points. The Bank Nifty also declined by 783.15 points at the open.

    On Friday, the Sensex had gained 964.58 points, or 1.25%, to settle at 78,151.45, while the Nifty 50 rose 261.55 points, or 1.09%, to close at 24,334.30. The Indian rupee opened 13 paise lower at Rs. 96.41 per dollar on Monday versus its previous close of Rs. 96.28.

    Domestic institutional investors (DIIs) continued their buying spree on July 17, purchasing shares worth Rs. 1,017.89 crore, while foreign institutional investors (FIIs) remained net sellers, offloading equities worth Rs. 376.41 crore.

    Sensex Outlook

    Technically, the Sensex formed a bullish candle on the weekly chart, supporting the possibility of a further uptrend from current levels.

    “The market found support near the 77,000 levels during the week. The 77,000 level and 77,600 will act as crucial trend-deciding levels for positional traders. As long as the market trades above these levels, the bullish sentiment is likely to continue. The rally could extend towards the 78,500-79,400 range. On the flip side, if the market falls below 77,000, the sentiment could turn negative. Below this level, traders may prefer to exit their long trading positions,” said Amol Athawale, VP of Technical Research at Kotak Securities.

    Nifty 50 Outlook

    The Nifty 50 continues to display bullish momentum after ending Friday’s session with a strong breakout candle, indicating that buyers remain in control and the recent upward trend is intact.

    “Going ahead, bias remains positive and a follow-through strength above last week’s high of 24,367 will open upside towards the 24,480 and 24,600 levels, being the trendline resistance and high of April 2026, respectively. Failure to move above last week’s high will signal an extension of the recent consolidation in the range of 24,350-23,800,” said Bajaj Broking Research.

    Immediate support for the Nifty is placed in the 24,000-23,800 zone. This range also coincides with the 50-day Exponential Moving Average (EMA).

    Bank Nifty Outlook

    The Bank Nifty ended Friday’s session on a strong note, forming a bullish candle with a higher high and higher low, indicating improving momentum.

    According to Bajaj Broking Research, the Bank Nifty has been consolidating between 56,500 and 58,700 over the past five weeks. A sustained breakout above 58,700 would confirm a fresh upward move and could push the banking index towards 59,300 initially, followed by the psychologically important 60,000 mark.

    “Going ahead, a move above the June high of 58,700 would confirm a breakout from the ongoing consolidation and could trigger the next leg of the rally towards 59,300 and eventually 60,000 levels in the coming weeks,” said the brokerage.

    On the downside, the 56,500-57,000 zone remains a strong support area, where the 20-week and 50-week EMAs converge along with the previous week’s low.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always conduct your own research before making any investment decisions.

  • Indian Stock Market Opens Higher: Nifty Crosses 24,100, Sensex Gains 310 Points Despite Global Weakness

    Indian Stock Market Opens Higher: Nifty Crosses 24,100, Sensex Gains 310 Points Despite Global Weakness

    Despite weak global cues, rising crude oil prices, and a sell-off in semiconductor stocks, the Indian stock markets opened on a positive note on Friday. The Nifty 50 climbed above the 24,100 mark at the open, the Sensex jumped 310 points, and the Bank Nifty rose 0.28% in early trade.

    Market Recap

    On Thursday, the Sensex closed nearly flat at 77,186.87, up by just 1.44 points, while the Nifty 50 ended 5.75 points (0.02%) lower at 24,072.75. The Indian rupee opened marginally higher at ₹96.29 per dollar on Friday, compared to the previous close of ₹96.35.

    Domestic institutional investors (DIIs) remained net buyers on July 16, purchasing shares worth ₹2,986.41 crore. In contrast, foreign institutional investors (FIIs) turned aggressive net sellers, offloading equities worth ₹4,205.56 crore.

    Sensex Outlook

    Technically, the Sensex formed a small candle on the daily chart and showed non-directional activity on the intraday timeframe, indicating indecisiveness among traders.

    Shrikant Chouhan, Head of Equity Research at Kotak Securities, commented: “As long as the market is trading within the 77,000 to 77,500 range, the range-bound texture is likely to continue. On the positive side, above 77,500, the market could move till 77,800–78,000. On the downside, below 77,000, selling pressure is likely to accelerate. Below this level, the market could retest 76,500–76,300.”

    Nifty 50 Outlook

    The Nifty 50 continues to remain in a consolidation phase after ending Thursday’s session with a small bearish candle. Bajaj Broking Research noted: “The index is seen consolidating in a range. We expect the index to extend the recent consolidation and trade in the range of 23,800–24,350.”

    The brokerage highlighted that the immediate support zone lies around 24,000–23,950. As long as the index sustains above this level, analysts expect a recovery towards the upper end of the consolidation range. “We expect the index to hold above the same and witness a pullback towards 24,250–24,350 levels, being the upper band of the recent consolidation range. Short-term support is placed at 23,800 levels, being the confluence of the almost identical low of the last 4 weeks and 50 days EMA. While only a breakout above 24,350 will signal strength and open upside towards 24,600 levels, being the high of April 2026.”

    Bank Nifty Outlook

    Bank Nifty also remained under pressure during Thursday’s session, forming a bearish candle as traders booked profits near higher levels. The banking index continues to remain below the 58,000 mark.

    Bajaj Broking stated: “On the upside, 58,700 remains the immediate hurdle. A decisive close above this level would confirm a breakout from the ongoing consolidation and could trigger the next leg of the rally towards 59,300 and eventually 60,000 levels in the coming weeks.”

    On the downside, analysts believe the 56,500–56,000 zone remains a strong support area as it coincides with both the 20-week and 50-week exponential moving averages (EMAs).

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any investment decisions.

  • Indian Markets Edge Higher: Nifty Holds 24,112, Sensex Gains 150 Points Amid Mixed Global Cues and US-Iran Tensions

    Indian Markets Edge Higher: Nifty Holds 24,112, Sensex Gains 150 Points Amid Mixed Global Cues and US-Iran Tensions

    Indian benchmark indices opened with modest gains on Wednesday, as traders navigated mixed global cues and ongoing US-Iran tensions. The Nifty 50 opened at 24,112, up 34 points, while the Sensex added 150 points. However, the Bank Nifty slipped 60 points in early trade.

    On the previous day, the Sensex rose 130.49 points, or 0.17%, to close at 77,185.43, and the Nifty 50 gained 26.45 points, or 0.11%, to settle at 24,078.50. The rupee opened at Rs. 96.25, nearly unchanged from Wednesday’s close of Rs. 96.26. Domestic institutional investors (DIIs) bought equities worth Rs. 704.93 crore on July 15, while foreign institutional investors (FIIs) turned net sellers, offloading Rs. 735.83 crore.

    Sensex Outlook

    Technically, the Sensex formed a Doji candle on the daily chart, indicating indecisiveness among traders.

    “On the positive side, 77,500 would act as a key resistance zone for traders, while 77,000 remains the crucial support zone for the bulls. Above 77,500, the market could move up to 77,800-78,000. On the flip side, dismissing the 77,000 level could accelerate selling pressure. Below this, the market could retest the level of around 76,300-76,000,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.

    Nifty 50 Outlook

    The Nifty 50 formed a long doji candle on the daily chart with shadows on both sides, reflecting intraday indecision.

    “Nifty 50 is currently hovering within a narrow range of around 24,200-24,000 levels and is showing a lack of strength to sustain the highs. A decisive move beyond the range could open sharp movement on either side,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

    The sideways movement is expected to continue for the next 1-2 sessions, with support at 24,000 and 23,800 below that. Traders must clear the intraday hurdle of 24,200 to stage a larger breakout toward 24,500-24,600.

    Bank Nifty Outlook

    Bank Nifty has been consolidating on the daily chart over the past few sessions. The index formed a small-bodied candle with an upper wick, highlighting its inability to sustain at higher levels.

    “Going ahead, the immediate support for Bank Nifty is placed in the 57,300-57,200 zone. Any sustainable move below this zone could result in the index extending its weakness towards 56,800, followed by 56,400 in the short term. On the upside, the immediate resistance is placed in the 58,200-58,300 zone,” said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.

  • Sensex Holds 77,000 While Crude Oil Volatility Pressures Bank Nifty: Indian Stock Market Update

    Sensex Holds 77,000 While Crude Oil Volatility Pressures Bank Nifty: Indian Stock Market Update

    Indian stock markets opened higher on Wednesday, tracking global gains, but underlying sentiment remained cautious due to escalating geopolitical tensions in the Middle East. At the open, the Sensex rose 170 points, the Nifty 50 gained nearly 50 points, and the Bank Nifty advanced 160 points. This follows a decline on Tuesday when the Sensex fell 561.46 points (0.72%) to settle at 77,054.94, and the Nifty 50 dropped 158.95 points (0.66%) to 24,052.05.

    Foreign institutional investors (FIIs) sold Indian equities worth Rs. 739 crore on July 14, while domestic institutional investors (DIIs) remained net buyers with inflows of Rs. 2,927 crore. The Indian rupee opened at Rs. 96.17 against the US dollar, gaining marginally from its previous close.

    Sensex Outlook

    Technically, the Sensex formed a bearish candle on the daily chart, indicating potential further weakness. According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, “The intraday market texture is non-directional; perhaps traders are waiting for either side to break out. 77,000 would act as a crucial support zone, while 77,300 would be the key resistance area for the bulls. Selling pressure below 77,000 is likely to accelerate, and the market could retest levels around 76,300-76,000. On the flip side, above 77,300, the chances of hitting 77,500-77,800 would turn bright.”

    Nifty 50 Outlook

    The Nifty 50 has entered a consolidation phase after snapping its three-session winning streak. The index formed a small bearish candle with a long upper shadow, indicating selling pressure at higher levels. Bajaj Broking Research noted, “We expect the index to extend the recent consolidation in the range of 23,800-24,350. Within the consolidation, last Friday’s gap area and Monday’s low of 24,000-23,950 will act as immediate support. Holding above this level could lead to a pullback towards 24,250-24,350, the upper band of the consolidation range.”

    Analysts point to the 24,000 to 23,950 zone as the immediate floor. If the index stays above this area, a recovery toward 24,250-24,350 is possible. A stronger support lies between 23,800 and 23,900. However, a sustained upward rally will only materialize if the index breaks decisively above 24,350.

    Bank Nifty Outlook

    On Tuesday, Bank Nifty declined 669.15 points (1.15%) to close at 57,462.30, forming a bearish candle. The index slipped below the 57,500 mark, reflecting selling pressure in banking stocks. According to Bajaj Broking, Bank Nifty is likely to remain in a 56,500 to 58,700 trading range. A breakout above 58,700 could trigger a rally toward 59,300 and possibly 60,000. On the downside, 56,500 is the key floor to watch, aligning with the 20-week and 50-week EMAs and last week’s low, making it a major demand zone.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.

  • Indian Stock Market Update: Nifty 50 Holds Above 24,000, Sensex Targets 77,800 as Global Volatility Persists

    Indian Stock Market Update: Nifty 50 Holds Above 24,000, Sensex Targets 77,800 as Global Volatility Persists

    The Indian stock markets are expected to open lower amid weak global cues, as the ongoing US-Iran conflict continues to weigh on risk sentiment. GIFT Nifty also indicates a gap-down start, trading at 24,056 with a discount of 187 points from its previous Nifty futures close.

    On Monday, the Sensex gained 47.01 points or 0.06% to settle at 77,616.40, while the Nifty 50 rose 4.10 points or 0.02% to finish at 24,211. The broader markets, Nifty Midcap 100 and Nifty Smallcap 100, ended on a flat note. The Indian rupee opened 32 paise lower at Rs. 95.94 per dollar on Tuesday against Monday’s close of Rs. 95.62.

    Sensex Outlook

    Technically, the Sensex formed a bullish candle on the daily chart and recovered its morning losses.

    “The 77,000 would act as a key support zone for short-term traders. As long as the market trades above this level, the uptrend wave is likely to continue. On the higher side, 77,800 would act as an immediate resistance for day traders. If the market successfully breaks that level, the rally could continue till 78,000-78,500. On the flip side, below 77,000, the uptrend would become vulnerable. Below this level, traders may prefer to exit their long positions,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.

    Nifty 50 Outlook

    Nifty 50 formed a small bullish candle on the daily chart, reflecting continued buying interest at lower levels.

    With weekly expiry today, traders should be prepared for heightened volatility and sharp intraday swings as derivatives positions are adjusted throughout the session. Right now, 24,000 is the ultimate floor. Slipping below this point will likely trigger a deeper slide and ruin the near-term chart setup. On the flip side, any bounce faces a heavy ceiling in the 24,200 to 24,300 zone. Because global headlines are running the show, upcoming expiry-day hedging could easily whip up extra wild price swings. Traders should avoid aggressive positions at the open and focus on disciplined, level-based execution. Expect volatility to remain elevated throughout the day, especially around key support and resistance levels.

    Bank Nifty Outlook

    On Monday, Bank Nifty rose 5.55 points or 0.15% to close at 58,131.45, forming a bullish candle on the daily chart, indicating buying interest at lower levels.

    It has been consolidating within the 56,500-58,500 range over the last four weeks, indicating a healthy pause after the previous up move. On the upside, 58,700 remains the immediate hurdle, said Bajaj Broking Research. “Failure to move above 58,700 will signal extension of last 4 weeks consolidation. On the downside, 57,400-57,500 is expected to act as the immediate support, coinciding with Thursday’s gap-up zone and Monday’s low. The major support is placed at 56,500, where the 20-week and 50-week EMAs converge along with the previous week’s low, making it a strong demand zone,” the brokerage added.

    Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments.

  • GIFT Nifty Signals Weak Start as Middle East Tensions Push Crude Higher: Sensex, Nifty Outlook

    GIFT Nifty Signals Weak Start as Middle East Tensions Push Crude Higher: Sensex, Nifty Outlook

    The Indian stock market is expected to open lower on Monday as escalating US-Iran tensions and uncertainty over the Strait of Hormuz drive crude oil prices higher, renewing inflation concerns. GIFT Nifty is trading at 24,025, a discount of 198 points from its previous Nifty futures close, indicating a gap-down start.

    Market Recap: Friday’s Gains

    On Friday, the Sensex gained 827.57 points (1.08%) to close at 77,569.39, while the Nifty 50 advanced 244.10 points (1.02%) to finish at 24,206.90. Broader markets outperformed, with the Nifty Midcap 100 rising 1.4% and the Nifty Smallcap 100 advancing 1.5%. Foreign institutional investors (FIIs) bought shares worth Rs 2,603.72 crore, and domestic institutional investors (DIIs) added Rs 2,019.68 crore.

    Sensex Outlook

    Technically, the Sensex closed above 77,500, extending its recovery and maintaining a constructive structure. The market found support near 76,100 and bounced sharply. Short-term texture remains volatile and non-directional.

    Amol Athawale, VP of Technical Research at Kotak Securities, said: “An uptrend may continue. On the higher side, the market could move up to 78,000–78,300. Upside may continue, potentially lifting the market to 78,700. On the flip side, if the market falls below 77,000, it could retest 76,100. Below 76,100, the chances of hitting 75,600–75,500 would increase.”

    Nifty 50 Outlook

    Nifty 50 remains in a broader consolidation phase while maintaining an upward bias. The index formed a high-wave candle on the weekly chart, reflecting volatility but indicating buyers defend lower levels.

    Bajaj Broking Research noted: “Broader market to extend outperformance with Nifty midcap 100 already at an all-time high. We expect Nifty small cap index also to rally to a fresh all-time high. The Index has immediate support at 23,800 levels, being almost identical lows of the last 4 weeks.”

    Near-term range is 23,800–24,350. A sustained move above 24,350 could push the index toward 24,600 and then 24,800. If geopolitical tensions intensify and the index falls below 23,800, selling pressure could drag it to 23,600–23,400.

    Bank Nifty Outlook

    Bank Nifty rose 793.45 points (1.39%) to close at 58,045.90 on Friday. It formed a Dragonfly Doji on the weekly chart, indicating strong buying interest at lower levels. The index is expected to consolidate in the 56,500–58,700 range near term.

    Bajaj Broking added: “A weakness below Wednesday’s low of 56,550 will open downside toward 55,500–55,000. On the higher side, only a move above 58,700 will signal resumption of the up-move toward 59,200 and 60,000 in the coming weeks.”

    Disclaimer: Analytics Insight does not provide financial advice or guidance. This article is for informational purposes only. Readers should conduct their own research before investing.

  • Nifty 50 Targets 24,200, Sensex Aims for 77,000 as Middle East Tensions Ease

    Nifty 50 Targets 24,200, Sensex Aims for 77,000 as Middle East Tensions Ease

    Indian equity markets are poised for a positive open on Friday, buoyed by easing geopolitical tensions in the Middle East and strong global cues. GIFT Nifty is trading at 24,110, up 111 points from the previous Nifty futures close, signaling a gap-up start for the session.

    On Thursday, the Sensex advanced 238.22 points (0.31%) to settle at 76,741.82, while the Nifty 50 gained 80.75 points (0.34%) to close at 23,962.80. The Indian rupee also strengthened, opening 13 paise higher at 95.26 against the US dollar.

    Foreign institutional investors (FIIs) were net sellers in Indian equities on July 9, offloading shares worth Rs. 334.72 crore. In contrast, domestic institutional investors (DIIs) remained buyers, investing Rs. 1,285.25 crore during the same period.

    Sensex Outlook

    Technically, the Sensex formed a small-bodied candle with a longer upper shadow on the daily chart, indicating selling pressure at higher levels. Hitesh Tailor, Technical Research Analyst at Choice Equity Broking, noted, “Going ahead, 76,000-76,200 is expected to act as an immediate support zone, while 77,000-77,300 remains the key resistance range for Sensex. The broader trend remains cautiously positive as long as Sensex sustains above the 76,000-76,200 support zone. A decisive move above 77,000-77,300 could strengthen bullish momentum and pave the way for further upside, while failure to cross this hurdle may keep Sensex range-bound with intermittent profit booking.”

    Nifty 50 Outlook

    The Nifty 50 formed an inverted hammer candle on the daily chart, suggesting the market is pausing after recent volatility rather than entering a fresh downtrend. According to Bajaj Broking Research, “Going ahead, we believe the index holding above the support area of 23,800—being the almost identical lows of the last three weeks—will lead to consolidation in the range of 23,800-24,350. Within the consolidation range, Thursday’s low of 23,925 is crucial; holding above the same will lead to a pullback towards 24,200 levels in the coming session.”

    For Friday, 23,925 remains a key level to watch. If the Nifty stays above it, the index could attempt to move towards 24,200. However, if geopolitical tensions intensify and the Nifty falls below 23,800, selling pressure could increase and drag the index towards the 23,500-23,600 zone.

    Bank Nifty Outlook

    On Thursday, Bank Nifty rose 509.85 points (0.90%) to close at 57,252.45, forming a small bullish candle that remained inside the previous session range, signaling consolidation. Bajaj Broking noted, “A weakness below Wednesday’s low of 56,550 will open downside towards the key short-term support of 55,500-55,000 levels. On the higher side, only a move above 58,000 will signal resumption of the up-move; failure to do so will lead to some consolidation in the range of 55,500-58,000 levels. The daily stochastic remains in a downtrend signal, indicating immediate corrective bias.”

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are encouraged to conduct their own research before making any investment decisions.

  • Nifty 50 Holds Above 23,800, Sensex Targets 77,000 as Middle East Tensions Fuel Volatility

    Nifty 50 Holds Above 23,800, Sensex Targets 77,000 as Middle East Tensions Fuel Volatility

    The Indian stock market is expected to open higher on short covering after a sharp sell-off as investors remain cautious about the renewed US-Iran war tensions and rising crude oil prices. GIFT Nifty also indicates a gap-up opening, trading at 23,976 with a premium of 64 points from its previous Nifty futures close.

    On Wednesday, the Sensex plunged 1,677.12 points or 2.15% to settle at 76,503.60, while the Nifty 50 fell 516.65 points or 2.12% to finish at 23,882.05.

    Among broader indices, Nifty Midcap 100 shed 1.5% and the Nifty Smallcap 100 index declined 2.2%.

    The Indian rupee opened flat at Rs. 95.55 per dollar on Thursday versus the previous close of Rs. 95.55.

    Foreign institutional investors (FIIs) remained net buyers in Indian equities on July 8, purchasing shares worth Rs. 1,962.80 crore, while Domestic institutional investors (DIIs) also stayed on the buying side, investing Rs. 790.16 crore.

    Sensex Outlook

    Technically, the Sensex formed a long bearish candle on the daily chart, indicating further weakness from the current levels.

    “We are of the view that the short-term texture of the market has changed to negative from positive, and for day traders, selling on rallies would be the ideal strategy. For day traders, 77,000 and 77,100 would act as immediate resistance levels for the bulls. As long as it is trading below these levels, weak sentiment is likely to continue on the downside. The market could retest the level of the 50-day SMA (Simple Moving Average), around 76,000. Further downward movement may also continue, which could drag the index to 75,800,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

    On the flip side, above 77,100, the sentiment could change. If the index moves above this level, a pullback could continue till 77,400-77,500. The current market texture is volatile; hence, level-based trading would be the ideal strategy for day traders, he added.

    Nifty 50 Outlook

    The Nifty 50 formed a long bearish candle with a lower high, lower low and a bearish gap, indicating that sellers currently have the upper hand.

    Bajaj Broking noted that the index erased its recent gains after slipping below the important support zone around 24,250 and eventually tested the 23,800 mark during intraday trade.

    “Going ahead, a breach below the key support area of 23,800 will open further downside towards the 23,500-23,600 levels in the coming sessions being the confluence of the previous gap area and 61.8% retracement of the entire previous up move 23,070-24,530. While holding above 23,800 will lead to consolidation in the range of 23,800-24,350. Immediate bias remains down below Wednesday’s gap down area of 24,350,” said the brokerage.

    Bank Nifty Outlook

    On Wednesday, Bank Nifty slumped 1,458.10 points or 2.51% to close at 56,742.60, forming a bearish candle on the daily chart and slipping below its 20-day EMA for the first time since June 8.

    “The index has entered a corrective phase after failing to hold key support levels. Index contrary to our expectations closed below the immediate support area of 57,000-56,800 signaling corrective bias. A follow through weakness will open further downside towards 55,500-56,000 levels in the coming sessions,” said Bajaj Broking Research.

    The brokerage further added, “On the higher side only a move above 58,000 will signal resumption of the up-move failure to do so will lead to some consolidation in the range of 55,000-58,000 levels.”

    Disclaimer: This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research before making any investments.

  • Indian Stock Market Update: Nifty 50 Targets 24,600, Sensex Holds 77,700 Amid Mounting US-Iran Tensions

    Indian Stock Market Update: Nifty 50 Targets 24,600, Sensex Holds 77,700 Amid Mounting US-Iran Tensions

    The Indian stock markets are poised for a lower open on Wednesday after fresh US strikes on Iran following drone attacks on commercial vessels in the Strait of Hormuz. GIFT Nifty futures are trading at 24,239.5, reflecting a discount of 144 points from the previous Nifty futures close, signaling a gap-down start.

    On Tuesday, late profit-booking erased early gains, pulling the Sensex down 104.35 points to settle at 78,180.72, while the Nifty 50 slipped 0.13% to close just below the 24,400 mark. Mid-cap and small-cap indices faced heavier selling, dropping 0.4% and 0.55% respectively. Foreign institutional investors bought a net Rs 393.19 crore in cash markets, nearly offsetting the Rs 383.43 crore sold by domestic institutions.

    Sensex Outlook

    Technically, the Sensex formed a bearish candle on the daily chart, indicating potential further weakness. Shrikant Chouhan, Head of Equity Research at Kotak Securities, said,

    “For day traders, 77,700 will act as a crucial support zone. Above these levels, Sensex could retest 78,400-78,600. On the flip side, if the index falls below 77,700, it could witness a sharp intraday dip towards 77,400-77,100.”

    Nifty 50 Outlook

    The Nifty 50 has entered a consolidation phase after a rally of nearly 1,500 points over the past five weeks. Bajaj Broking Research noted,

    “We believe the overall structure is positive, and dips towards the 24,200-24,000 should be used to accumulate quality stocks in a staggered manner. On the higher side, only a sustained move above 24,600 will signal extended gains towards 24,800 levels, being the trendline resistance joining the previous major breakdown area.”

    The brokerage expects Nifty to trade within the 24,200-24,600 range in the coming sessions. A decisive breakout above 24,600 could pave the way for 24,800, while the 24,200-24,000 zone is likely to act as key support.

    Bank Nifty Outlook

    On Tuesday, Bank Nifty declined 90.80 points or 0.16% to close at 58,200.70, forming a bearish candle on the daily chart. Bajaj Broking said,

    “A decisive move above the recent swing high of 58,700 will strengthen the bullish setup and can pave the way for an advance towards 59,200 and 60,000 in the coming weeks, which coincide with the 138.2% and 150% external retracement of the previous decline from 57,456 to 52,783. Failure to move above 58,700 will signal extension of the last 8 sessions’ consolidation in the range of 57,000-58,700.”

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. The stocks and cryptocurrencies mentioned involve risk. Conduct your own research before making any investment decisions.

  • Indian Stock Market Outlook: Nifty 50 Targets 24,500, Sensex Holds Key Support at 76,700

    Indian Stock Market Outlook: Nifty 50 Targets 24,500, Sensex Holds Key Support at 76,700

    Indian stock markets are expected to open on a muted note Monday amid mixed global cues. GIFT Nifty is trading at 24,332.5, indicating a flat start with a discount of 22.5 points from the previous Nifty futures close.

    On Friday, the Sensex rose 261.79 points (0.34%) to settle at 77,763.91, while the Nifty 50 advanced 95.15 points (0.39%) to finish at 24,270.85. Broader indices underperformed, with the Nifty midcap index ending marginally lower and the smallcap index flat.

    The Indian rupee opened flat at Rs. 95.23 per dollar on Monday against Friday’s close of Rs. 95.22. Foreign institutional investors (FIIs) turned net buyers on July 3, purchasing shares worth Rs. 1,355.33 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs. 1,953.89 crore.

    Sensex Outlook

    Technically, the Sensex rose around 1% last week, forming a bullish candle on weekly charts with a higher bottom formation—a largely positive sign. “The short-term market texture is positive, but the ideal strategy for traders would be to buy on dips and sell on rallies. On the downside, 77,300 and 76,700 are key support zones, while 78,400-79,000 are key resistance areas. Below 76,700, sentiment could change, potentially retesting 76,100-75,900,” said Amol Athawale, VP Technical Research, Kotak Securities.

    Nifty 50 Outlook

    Nifty 50 has strengthened its short-term trend after closing above last month’s high. The index advanced for three consecutive sessions and finished above the critical 24,261 level. Although Friday’s trading formed a bearish candle as the market gave up some gains, the broader short-term trend remains positive.

    Bajaj Broking Research noted that “the index during the current week generated a bullish crossover of the 20- and 50-day EMA, highlighting continuation of positive momentum. In the coming session, Friday’s gap area will act as immediate support; holding above that signals an extension of the up move toward 24,380 and 24,500.” The brokerage expects Nifty to gradually move toward the 24,500-24,600 zone in the near term. A decisive break above 24,600 could target 24,800. Immediate support is near 24,050, with stronger support between 23,800 and 23,900.

    Bank Nifty Outlook

    On Friday, Bank Nifty declined 93.15 points (0.16%) to close at 57,938.50, forming a small bearish candle. For the week, the index ended with a loss of 0.41% and formed a small bearish candle on the weekly timeframe with a long lower shadow, highlighting indecisiveness.

    Bajaj Broking Research said, “A move above last week’s high of 58,400 will open further upside toward 59,200 and 60,000 in the coming weeks, being the 138.2% and 150% external retracement of the previous decline from 57,456 to 52,783. Failure to move above last week’s high is likely to keep the index consolidating within the 57,000-58,400 range.” The brokerage identified the 57,000-56,800 region as key support for Bank Nifty, adding that the broader outlook for banking stocks remains positive and any short-term consolidation could offer accumulation opportunities.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making any investment decisions.