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Published on 28-07-2026 06:02 pm

Global Market Update

• European Market – European stocks gained as upbeat second-quarter results from LVMH lifted sentiment across the luxury sector, offsetting pressure from the global selloff in semiconductor shares..

• Asian Market – Asian market sharply declined. A selloff in chipmakers deepened as mounting doubts over returns from billions of dollars of artificial-intelligence spending rippled through semiconductor stocks. South Korea Index and Japan Index declined 11% and 3.5% respectively. • US Data – US Fed 2-day meeting from today – Tomorrow US Fed interest rate decision.

• Commodity – Brent crude prices have dropped by 2% to below $88/bbl after President Donald Trump said that the US and Iran were engaged in talks to try to end the Middle East conflict, with the two sides continuing to hold off on attacks.

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Published on 28-07-2026 05:58 pm

Derivative Outlook:

• Nifty future closed negative with losses of 0.19% at 23983 levels. Positive setup seen in Coforge, Lodha, Kalyan, TCS, Techm, Nestle, Naukri, Eternal, Persistent and TVS Motors while weakness seen in Suzlon, Godfrey Phillips, VBL, HUL, BEL, CG Power, Coal India, Inox Wind, Ambuja and BSE.

• On option front, Maximum Call OI is at 24000 then 25000 strike while Maximum Put OI is at 24000 then 23000 strike. Call writing is seen at 24000 then 24700 strike while Put writing is seen at 24000 then 23700 strike. Option data suggests a broader trading range in between 23600 to 24400 zones while an immediate range between 23800 to 24200 levels.

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Published on 28-07-2026 05:58 pm

Technical Outlook:

• Nifty index opened with a gap up of around 160 points and witnessed sustained buying throughout the session as bulls defended its crucial support zones helping the index extend its gains and closed near its higher band near 24K marks. It formed a doji sort of a candle on the daily frame and is forming higher highs - higher lows from the last two trading sessions. Now it needs to hold above 24000 zones for an up move towards 24200 then 24300 zones while support can be seen at 23900 then 23800 zones.

• S&P BSE Sensex index opened on a flattish note and traded within its first hour's range for most part of the session. Momentum remained missing on either sides as both bulls and bears witnessed a tug of war. The index attempted to cross the previous session's high but failed to sustain as it faced resistance near its 20 DEMA. It formed a small bodied candle with a longer upper shadow on the daily chart while continuing to form higher highs from the last couple of sessions. Now it has to hold above 76700 zones for a bounce towards 77000 then 77300 levels while on the downside support is seen at 76500 then 76200 zones.

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Published on 28-07-2026 05:57 pm

Equity benchmark indices ended on a flat note on the July Nifty F&O expiry, as investors adopted a cautious stance ahead of further developments in the US-Iran peace talks, weakness in Asian markets, and the US Federal Reserve's interest rate decision scheduled for tomorrow. The Nifty slipped 10 points to close at 23,985.

• Sectorally, metal, defence, and banking stocks were the major laggards. In contrast, IT stocks emerged as the top performers as investors shifted their focus from richly valued semiconductor companies to core IT services firms. The Nifty IT Index surged more than 3%, led by Coforge, which jumped 10%, followed by TCS (up 4%), Tech Mahindra, Mphasis, Infosys, and Oracle Financial Services, which gained up to 5%.

• Realty stocks extended their upward momentum after Lodha reported strong quarterly earnings. The Nifty Realty Index advanced 2%, led by gains in Lodha, DLF, and Brigade Enterprises, which rallied as much as 8%.

• Oil marketing companies and aviation stocks also witnessed fresh buying after crude oil prices declined another 4% to below $85 per barrel. Sentiment improved after US President Donald Trump stated that the US and Iran were engaged in discussions to end the Middle East conflict, with both sides continuing to refrain from further military strikes.

• Among global markets, Asian equities witnessed sharp losses. A broad sell-off in semiconductor stocks intensified amid growing concerns over the returns on massive artificial intelligence-related investments. South Korea's benchmark index tumbled 11%, while Japan's benchmark index declined 3.5%, reflecting the weakness across the region. -69.86 (-0.09%)

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Published on 28-07-2026 03:01 pm

INTRADAY KICKER UPDATE: STOCK FNO BUY SENSEX 30-Jul-2026 76900.00 PE CLOSE AT CMP 326.55 - Jainam Broking Limited.

Please refer disclaimer at https://jainam.in/SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785