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Below the Quote on Post Market Comment 09 July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd 

On July 9th, Indian equity markets closed on a negative note despite experiencing notable intraday volatility. The Sensex declined by 176.43 points or 0.21% to settle at 83,536.08, while the Nifty slipped 46.40 points or 0.18% to end at 25,476.10. Interestingly, broader indices outperformed the benchmark indices — the BSE Midcap index closed flat, whereas the Smallcap index gained 0.5%.

The Nifty 50 opened on a weak note and traded in a range bound manner for most of the session. However, a sudden sell-off towards the end dragged the index lower. Technically, a sustained move above the 25,550 level could pave the way for an upward move toward 25,750. On the downside, immediate support is seen at 25,378 and 25,222, which may act as potential entry points for long trades.

Among the top Nifty losers were Tata Steel, HCL Technologies, Hindalco Industries, Apollo Hospitals, and Tech Mahindra. On the other hand, gainers included Shriram Finance, Bajaj Finance, Hindustan Unilever, UltraTech Cement, and Coal India.

The Bank Nifty index ended almost flat, down by 42 points, and formed a Dragonfly Doji pattern on the charts, indicating sustained buying interest at lower levels. A decisive break below the key support of 57,000 could lead to further downside towards 56,800 and 56,500. However, if these support levels hold, a reversal from here could provide fresh buying opportunities. On the upside, resistance is expected in the 57,300–57,500 zone, with a breakout above this range potentially triggering a rally toward 58,000.

Meanwhile, the India VIX — a key measure of market volatility — fell by 2.09% to 11.94, reflecting rising uncertainty among market participants. In the derivatives segment, open interest (OI) data indicated the highest call writing at the 25,500 and 25,600 strike prices, while the maximum put OI was seen at the 25,400 level. This suggests strong resistance around 25,500. However, overall sentiment remains cautiously optimistic, and a decisive close above this level will be essential to maintain bullish momentum in the near term.

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