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Below the Quote on Post Market Comment 16 July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd

On July 16th, Indian equity markets closed on a flat note despite experiencing notable intraday volatility. The Sensex ended the session up by 63.57 points or 0.08% at 82,634.48, while the Nifty 50 gained 16.25 points or 0.06% to settle at 25,212.05. Broader market indices, including the Nifty Midcap and Smallcap, also ended flat, performing in line with the benchmark indices.

The Nifty opened on a weak note and remained range bound for most of the session. However, a sudden bout of buying interest toward the end lifted the index higher. From a technical perspective, a sustained move above the 25,250 level could open the door for a rally toward the 25,750 mark. On the downside, immediate support is placed at 25,100 and 25,000, which could serve as potential entry levels for long trades.

Among the top Nifty gainers were M&M, Wipro, SBI, Nestle India, and Tech Mahindra, while Shriram Finance, Eicher Motors, Sun Pharma, Tata Steel, and Cipla were among the major losers.

The Bank Nifty index ended higher by 162 points and formed a bullish candle on the daily chart, suggesting sustained buying interest at lower levels. A decisive break below the key support of 57,000 may lead to further downside toward 56,800 and 56,500. However, if these levels hold, a potential reversal could present fresh buying opportunities. On the upside, resistance is seen in the 57,300–57,500 range, with a breakout above this zone potentially triggering a move toward 58,000.

Meanwhile, the India VIX, a key gauge of market volatility, declined by 2.09% to 11.24, reflecting subdued volatility but also rising uncertainty among market participants. In the derivatives segment, open interest (OI) data showed the highest call writing at the 25,300 and 25,400 strike prices, while the maximum put OI was concentrated at the 25,200 level. This positioning suggests strong resistance near the 25,500 zone. Nevertheless, the overall market sentiment remains cautiously optimistic, and a decisive close above this resistance level will be crucial to sustain the bullish momentum in the near term.

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