
By: Naresh Sharma | Date : Jul 7, 26
| Category | Value |
| FII/FPI | +243.03Cr |
| DII | +3,791.42Cr |
| INDIA VIX | 11.80(-0.17%) |
As of 10:17(IST)
| ADVANCE | 1095 |
| DECLINE | 1823 |
As of 10:18(IST)
Nifty50 extended its upward momentum, showing strong underlying strength despite experiencing sharp fluctuations triggered by weekly derivatives expiration. The index commenced trading at 24,464.45 and climbed to a peak of 24,530.90 amid supportive international markets, relaxing West Asian political frictions, and a dip in Brent crude to $72.45 per barrel. Investor confidence also received a lift from capital injections by foreign institutional investors, which successfully offset earlier liquidation trends. This optimism faded slightly later as market participants rebalanced contracts and sparking expected expiry-induced swings and a wave of profit-taking. From a sectoral viewpoint, the upward push was led by prominent IT players, with Infosys jumping close to 4% around midday complemented by solid buying interest in the automobile, pharmaceutical, and real estate industries.
Bank Nifty exhibited a highly range-bound, consolidation-focused performance, closing marginally lower by 0.16% at 58,200.70. Although the index opened strongly at an intraday high of 58,567.85, it immediately encountered selling pressure at the crucial resistance level of 58,500–58,700, which ultimately capped any further upward momentum. While the broader market found support amid foreign portfolio investor inflows and positive sentiment in the IT and automobile sectors, the banking index acted as a relative drag due to muted price action and late-day profit booking in public sector banking (PSU). Ultimately, the index managed to defend its key immediate support at the 58,000 level, leaving its structural outlook neutral-to-positive as market participants broadly adopt a cautious “buy on dips” strategy.
Nifty Realty index retreated 1.58% to end at 892.60 points after an impressive four-week surge that had boosted the industry . Trading initially began on an optimistic note at 910.45 and quickly touched a peak of 911.10, fueled by upbeat industry data regarding record-breaking home sales and soaring property registrations. This early enthusiasm was ultimately eclipsed by heavy intraday liquidations, amid broader market volatility. These combined headwinds pulled the real estate tracker down to a session low of 891.00. Even with this single-day dip from its prior mark of 906.95, key industry heavyweights like DLF, Godrej Properties, and Lodha Developers remained anchored by strong core demand, keeping the sector’s primary technical trend safely intact within a healthy consolidation range.
Nifty Auto index showed growth, rising for the third consecutive trading session and touched the high of 27,452.80, but later settled flat at 27,343.50, down by 0.04%. Good vehicle sales numbers from June and helpful global factors like falling oil prices, aided Nifty auto to sustain its gaining momentum. Major car companies and auto part makers led the market rally due to high customer demand, with big gains seen in stocks like Sona BLW, Exide Industries, TVS Motor Company, and Uno Minda. Settling the day above 27,250 mark shows that large investors are actively interested in these stocks, pointing to a positivity in the auto industry in the coming months.
Nifty managed to close above 24,300 at the level of 24,398, almost nearing 24,400. Thus, the index is indicating a positive trajectory towards the level of 24,500. Further RSI at the mark of 63, is further hinting towards scope of further upside in the index. Thus sustained trading above 24,350 would open the gates for 24,500 in coming days.

| NIFTY | 24398.7 | -0.13% | 24,350 | 24,550 |
| BANK NIFTY | 58,200.70 | -0.16% | 57,100 | 58,250 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 27,939.15 | 2.43% | 27,135 | 28.18 |
| NIFTY PHARMA | 25,677.70 | -0.73% | 25,650 | 26,000 |
| NIFTY AUTO | 27,343.50 | -0.04% | 26,230 | 27,490 |
| NIFTY REALTY | 892.6 | -1.58% | 870 | 911 |
| NIFTY ENERGY | 39,188.45 | -0.74% | 38,560 | 40,670 |
| NIFTY FMCG | 50,225.85 | 0.06% | 47,650 | 50,520 |
| Nifty 50 | 24398.7(-0.13%) | Nifty Bank | 58200.7(-0.16%) |
| Sensex | 78180.72(-0.13%) | India Vix | 11.65(-1.44%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| HCLTECH | 3.16% | TRENT | -12.64% |
| TECHM | 2.88% | ADANIENT | -3.02% |
| INFY | 2.85% | BEL | -1.92% |
| SBILIFE | 2.65% | ADANIPORTS | -1.79% |
| TITAN | 2.38% | MAXHEALTH | -1.52% |

Nifty slipped -0.13%, opening at 24,464.45 and initially extending its gains to an intraday high of 24,530.90. However, the index failed to sustain above higher levels and witnessed sharp profit booking, falling to an intraday low of 24,348.95 before recovering slightly to close at 24,398.70. Despite the intraday volatility, the trend remains bullish, with Nifty continuing to trade above its 11DMA and 30DMA, although it remains below the 200DMA, indicating that the short-term structure is positive while the broader trend is still under recovery. The RSI at 63.02 reflects healthy bullish momentum. Immediate resistance is placed at 24,450-24,600, while support is seen at 24,200-24,100. Holding above the support zone could keep the bullish momentum intact, while a sustained breakout above 24,450 may trigger fresh upside.

Bank Nifty edged lower by -0.16%, opening at 58,567.85 before witnessing sharp selling pressure in the early session. The index declined to an intraday low of 58,110.10 and then remained range-bound within a narrow 150-point range, eventually closing at 58,200.70. The trend remains bullish as Bank Nifty continues to trade above its 200DMA, 30DMA, and 11DMA, indicating that the broader technical structure remains strong despite the day’s consolidation. The RSI at 63.45 continues to indicate healthy momentum. Immediate resistance is placed at 58,500-58,800, while support is seen at 57,900-57,650. A decisive move above 58,500 could extend the ongoing rally, while holding above 57,900 will keep the bullish outlook intact.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 24100 | 24600 | Bullish |
| BANK NIFTY | 57650 | 58800 | Bullish |

Nifty Mid Select (Midcap Nifty) gained +0.18%, opening at 14,642.95 before witnessing early selling pressure that dragged the index to an intraday low of 14,510.95, close to both its 11DMA and the previously identified 14,500 support zone. Buyers emerged from lower levels, pushing the index to an intraday high of 14,669.05, near the anticipated resistance, before it settled at 14,638.45. The trend remains bullish, with the index continuing to trade above its 200DMA, 30DMA, and 11DMA, confirming sustained strength in the broader trend. The RSI at 60.12 reflects positive momentum. Immediate resistance is placed at 14,700-14,770, while support is seen at 14,500-14,400. A sustained move above 14,700 could lead to further upside.

Nifty IT surged +2.43%, opening at 27,248.30 and witnessing strong buying momentum throughout the session. The index rallied sharply, crossed the psychological 28,000 mark, and touched an intraday high of 28,156.20, near its 30DMA, where profit booking emerged. It eventually closed at 27,939.15, slightly below the 28,000 level. The major trend remains bearish, as the index continues to trade below its 200DMA and 30DMA, although it has reclaimed the 11DMA, indicating improving short-term momentum and the possibility of a relief rally. The RSI at 50.73 has improved significantly, reflecting strengthening momentum after the recent recovery. Immediate support is placed at 27,500-27,000, while resistance is seen at 28,000-28,450. A sustained breakout above 28,000 and the 30-DMA would strengthen the case for a short-term bullish reversal, while failure to hold above 27,500 could invite renewed selling pressure.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 14400 | 14770 | Bullish |
| NIFTY IT | 27000 | 28450 | Bearish |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 24140 | 24244 | 24321 | 24426 | 24503 | 24608 | 24685 |
| BANKNIFTY | 57543 | 57826 | 58014 | 58297 | 58485 | 58768 | 58956 |
| FINNIFTY | 26701 | 26814 | 26900 | 27013 | 27099 | 27212 | 27298 |
| MIDCPNIFTY | 14598 | 14634 | 14572 | 14608 | 14546 | 14582 | 14520 |
| NIFTYNXT50 | 72396 | 72634 | 72371 | 72608 | 72345 | 72582 | 72319 |
| Category | Value |
| FII/FPI | +393.19Cr |
| DII | -383.43Cr |
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