Quote on Post Market Comment 08 July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Below the Quote on Post Market Comment 08 July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Indian equity markets ended on a positive note on July 08, after trading sideways for most of the session. Some buying interest in the latter half helped the indices close in the green. The Sensex rose by 270.01 points or 0.32% to settle at 83,712.51, while the Nifty gained 61.20 points or 0.24% to close at 25,522.50. Market breadth remained negative, with 1,099 stocks advancing and 1,331 declining.
Nifty traded sideways throughout the day on July 08, but buying in the later session helped the index close on a positive note above the 25,500 mark. On the daily chart, a strong bullish candle has been formed, indicating a potential continuation of the upward momentum. For the uptrend to sustain, the index needs to move decisively above the immediate resistance of 25,600, with a stronger hurdle placed near the 25,800 level. On the downside, immediate support is seen at 25,500, followed by 25,400, while a stronger support zone lies near the 25,300 mark. Top gainers in the Nifty 50 were Kotak Bank, Eternal, Asian Paints, NTPC, and Grasim, while Titan, Dr. Reddy’s, Bajaj Auto, Cipla, and Trent were among the top losers.
Bank Nifty opened with a gap-up and traded sideways at higher levels throughout the day. Buying in the later part of the session helped the index move further to the upside, eventually ending on a positive note above the 57,200 mark. The index needs to hold above the key support level of 57,000 to maintain its positive structure. A breach below this level could lead to extended selling pressure, dragging the index towards the 56,800–56,500 zone. On the upside, immediate resistance is seen around 57,400, while the 57,600–57,800 zone remains a strong hurdle. A decisive breakout above this range could open the doors for a strong bullish move toward new record highs.
Meanwhile, India VIX declined by 2.91% to 12.1950, indicating reduced market volatility and reflecting a relatively stable sentiment among traders. In the derivatives segment, open interest (OI) data showed the highest Call OI at the 25,600 strike, followed by 25,700, suggesting a potential resistance zone. On the Put side, the highest OI was seen at the 25,500 strike, followed by 25,400, indicating strong support levels. This OI setup suggests that the 25,400–25,600 zone will be crucial for Nifty's next directional move.
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