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Below the Quote on Post Market Comment 28th July 2025 by Mandar Bhojane, Research Analyst, Choice Broking

Indian equity markets ended higher on July 29, 2025, after recovering from early losses, driven by selective buying in large-cap stocks. The Nifty 50 rose 140.20 points (0.57%) to close at 24,821.10, while the Sensex advanced 447.63 points (0.55%) to settle at 81,838.54. Broader market sentiment improved in the latter half of the session, with advancing stocks outpacing decliners. Among sectoral performers, FMCG, Auto, and Energy showed strength, whereas IT and Metal stocks remained under pressure.

On the technical front, the Nifty has taken support at its 100-day EMA and closed above the key 24,800 level. A bullish candle formation with strong volume suggests buying interest at lower levels. If the index sustains above 24,800, we could witness a further rally towards 25,000 and 25,200 in the near term. On the downside, 24,600 remains the immediate support; a break below this could invite further correction toward 24,200–24,160. The overall trend remains bullish, and buying on dips is recommended.

Bank Nifty, after breaking down from a narrow range, retested its breakdown level and is now hovering around a key zone. If it sustains above 56,275, it can extend gains towards 57,000 and 57,630. Conversely, support is placed at 55,500–55,150. The RSI stands at 44.93 and is trending upwards, indicating improving momentum. The broader structure suggests a bullish bias, and any dip in Bank Nifty can be used as a buying opportunity.

In the derivatives segment, India VIX dropped 4.46% to 11.5250, indicating lower volatility and improved trader confidence. On the options front, the highest Call open interest for Nifty is seen at the 25,000 and 25,200 strike prices, highlighting potential resistance. On the Put side, the highest open interest is concentrated at the 24,800 strike, suggesting strong support. Together, the technical setup and derivative data signal a potential upside continuation as long as key support levels are held.

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