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July 17, 2025

• Daily Morning Report Date: 17.07.2025
• NIFTY OUTLOOK: 25,212.05  FII: -1,858.15 cr  DII: +1,223.55 cr
• As discussed yesterday, market behaviour remained in line with expectations.
• Nifty witnessed movement on both sides—respecting our support at 25,107 on the downside and resistance at 25,245 on the upside—before closing at 25,212.
• A bullish doji-type candle appeared on the daily chart, indicating indecision in the index's direction.
• On the upside, a move above 25,255 may trigger bullish momentum, potentially pushing Nifty towards 25,300–25,340. If demand strengthens further, it may even test 25,383.
• On the downside, 25,170–25,127 may act as immediate support. A break and sustain below this zone could drag the index down to 25,083–25,040.
• Bank Nifty Outlook:
• Spot: 57,168.95  PCR: 0.86  Max CE OI: 56,000  Max PE OI: 56,000
• On 16th July 2025, the Bank Nifty index closed at 57,168.95, marking a 0.28% rise from the previous close. The index recorded a total movement of 338.95 points during the session, touching an intraday high of 57,276.55 and a low of 56,937.60.
• Technical View – Daily Chart
• Key Support: 56,900
• Key Resistance: 57,500
• RSI: Currently at 58.8, indicating neutral momentum (with overbought above 70 and oversold below 30).
• SMA Analysis:
• Bank Nifty is currently trading above all 8 key SMAs (5, 10, 20, 30, 50, 100, 150, and 200-day), indicating a strong bullish trend.
• Candlestick Insight:
• A bullish candlestick pattern was observed, further supporting positive sentiment in the near term.
• • Spinning Top Uptrend
• Macros
• 1. Dollar index @ 98.21
• 2. S&P Vix @ 17.16
• 3. Brent Crude @ 68.77
• 4.10 years bond yield @ 4.471
• Note:
• Markets remained cautious over the potential impact of Trump’s proposed tariffs, especially with the August 1st deadline approaching. Concerns intensified as these tariffs are expected to be inflationary, given that the costs would largely be absorbed by U.S. importers.
• Adding to inflationary worries, June’s consumer inflation data came in hotter than expected, while producer inflation data was softer, offering limited relief. However, inflation remains sticky, reducing the likelihood of the Federal Reserve cutting interest rates in the near term.
• On the global trade front, President Trump announced that a deal with India is close, following the signing of a trade agreement with Indonesia earlier in the week. This suggests that the lingering trade uncertainty with India may be resolved soon, offering some clarity for markets.
• Contributed by
• Ashok bhandari : INH000019549
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