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August 01, 2025
- Daily Morning Report Date: 01.08.2025
- NIFTY OUTLOOK: 24768.35 FII -5588.91 cr DII 6372.71 cr
- As discussed yesterday, market behaviour remained on expected lines. In a highly volatile session, Nifty respected our support of 24659 (made a low of 24635) and our resistance of 24953 (made a high of 24956), finally closing at 24768.35.
- A bullish candle with an upper shadow suggests selling pressure at higher levels. If selling persists and Nifty decisively breaks 24715, it may fall to 24660–24608. Further supply could drag it down to 24555.
- However, the bullish candle keeps hope alive for the bulls. If Nifty successfully takes out 24823, it may rally to 24875–24927. Stronger demand could push it up to 24981.
- Bank Nifty OUTLOOK:
- SPOT: 55961.95 PCR: 0.89 Max CE OI at 57000 & Max PE OI at 56000
- On 31st July 2025, Bank Nifty closed at 55961.95, down 0.34% from the previous day’s close. The index moved 858.85 points during the session, making a high of 56406.20 and a low of 55547.35.
- Technical View (Daily Chart)
- Key support and resistance levels are at 55450 and 56810 respectively.
- Intraday Technical Strategy:
- Go long above 56198 with a stop loss of 56110 and target of 56434.
- Go short below 55725 with a stop loss of 55804 and target of 55490.
- Indicators & SMA Analysis:
- RSI stands at 42 (below 30 is oversold, above 70 overbought).
- Bank Nifty is trading above 3 out of 8 SMAs (100, 150, 200-day)
- Trading below 5 out of 8 SMAs (5, 10, 20, 30, 50-day)
- No active candlestick pattern identified.
- Macros
- 1. Dollar index @ 99.91
- 2. S&P vix @ 16.72 ( + 8.01%)
- 3. Brent crude @ 71.60
- 4. US 10 years bond yield @ 4.38
- Note:
- All eyes were on U.S. inflation and weekly jobless claims data, which showed a mild uptick in inflation and a slight rise in jobless claims. The focus now shifts to the non-farm payroll report, which will be closely watched.
- The much-awaited Fed policy review concluded with no change in interest rates. In his commentary, Powell stated that future decisions will depend on incoming data, particularly during the September quarter.
- Asian markets fell on Friday after the U.S. imposed steep tariffs on dozens of trading partners. Investors are now awaiting U.S. jobs data that could determine the likelihood of a Fed rate cut next month.
- Late Thursday, President Trump signed an executive order imposing tariffs ranging from 10% to 41% on U.S. imports from several countries. India's exports to the U.S. will face a 25% tariff.
- Conclusion: We need to stay cautious and keep positions light.
- Contributed by
- Ashok bhandari : INH000019549
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