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Technical Outlook:

• Nifty index opened on a flattish note and witnessed buying interest in the initial half of the session and crossed 24500 zones. However, it failed to sustain at higher levels as profit booking emerged, dragging index to 24350 marks by the end of the session. Selling pressure remained visible in the latter part of the day which disregarded any minor recovery. It formed a bearish candle on the daily frame but is still forming higher highs - higher lows from the last five sessions. Now it has to hold above 24400 zones for strength to regain towards 24500 then 24600 zones while supports are placed at 24250 then 24100 zones.

• S&P BSE Sensex index opened on a positive note and witnessed buying momentum in the first half of the session. However momentum faded later as profit booking emerged near 78600 zones. It formed a bearish candle with a longer upper shadow on the daily frame but continues to form higher highs from the last four sessions reflecting short term uptrend is intact. Now it has to hold above 78000 zones for an up move towards 78700 then 79000 zones while supports are shifting higher at 78000 and then 77700 zones.

Derivative Outlook:

• Nifty future closed negative with losses of 0.30% at 24410 levels. Positive setup seen in Mpahsis, Titan, Nuvama, Coforge, Indusind Bank, Eternal, PNB Housing, PGEL, Paytm, GMR Airport and Bajaj Finance while weakness seen in Trent, Kalyan, MCX, BSE, Jindal Steel, KEI, Biocon, National Aluminum, Bhel and Vedanta.

• On option front, Maximum Call OI is at 24500 then 24500 strike while Maximum Put OI is at 24500 then 24000 strike. Call writing is seen at 24500 then 25000 strike while Put writing is seen at 24500 then 24400 strike. Option data suggests a broader trading range in between 24000 to 25000 zones while an immediate range between 24200 to 24700 levels.

• RITES – Company secured an international order worth $35.8 million from South Africa’s Volantis Asset Finance to supply 4,000 HP diesel-electric locomotives.

• Indonesia, India to Sign Contract for BrahMos Missiles - Indonesia’s Defense Ministry and BrahMos to sign a contract for BrahMos missiles following a meeting between Indonesia President Prabowo Subianto and India PM Narendra Modi in Jakarta on Tuesday. Bharat Dynamics and Republikorp to sign air-to-air missile cooperation agreement.

• Himadri-backed Sicona wins $31 mn grant for Australian battery-material plant - Sicona Battery Technologies, an Australian battery materials maker backed by India's Himadri Speciality Chemical Ltd, has secured a non-repayable grant of up to AUD 45 million (about $31.2 million, or roughly Rs 297 crore from the Australian Renewable Energy Agency (ARENA) to build its first commercial scale silicon-carbon anode manufacturing facility, the company said this week.

• Swiggy reports 49.76% foreign investment in total equity – Swiggy has disclosed that as of 6th July 2026, foreign investments, including foreign portfolio investment, foreign direct investment, and other indirect foreign investments, account for approximately 49.76% of its total paid-up equity share capital on a fully diluted basis. This update is part of Swiggy‘s ongoing efforts to qualify as an Indian Owned and Controlled Company under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019.

• Waterways Leisure Tourism – Company said its board will meet on July 10 to consider a proposal for sub-division of equity shares.

• BHEL - Company Signs Strategic Collaboration Agreement (SCA) With M/S Thyssenkrup Nucera India Private.

• Kalyan Jewellers Q1 business update – consolidated revenue grew around 38% on an year-on-year basis. International operations posted around 35% YoY surge in revenue. In the Middle East, the company witnessed revenue growth of approximately 30% for Q1 FY2027 as compared to Q1 FY2026 driven predominantly by same-store-sales-growth despite geopolitical tensions in the region. The company's digital-first jewellery platform, It launched 12 Kalyan showrooms and 5 Candere showrooms in India in the quarter.

• Info Edge Q1 Standalone Billings Rise 14% - Info Edge reported 14% year-on-year growth in standalone billings at Rs 737 crore in Q1FY27. Recruitment solutions billings rose 18% to Rs 552.7 crore, while 99acres billings grew 14% to Rs 110.1 crore. Jeevansaathi billings fell 12% to Rs 39.6 crore, while Shiksha billings declined 23% to Rs 34.6 crore.

Global Market Update

• European Market - European equities have opened on a marginally higher. Defensive and cyclical value names are faring well with consumer staples up more than 1% as investors look for alternatives beyond tech. Both Germany and France Index gained up to 0.3%.

• Asian Market - Asian markets declined sharply. Japanese stocks and South Korea Index declined 2% and 5% respectively following Samsung’s post-earnings drop. Shares in computer chipmaker Samsung Electronics slumped 8%.

• US Data - Exports and Import.

• Commodity - Oil gained following attacks on shipping in and around the Strait of Hormuz, highlighting continued risks to vessels in the critical waterway. Brent rose toward $73 a barrel.

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