Quote on Pre-Market Comment 08 July 2025 by Mandar Bhojane, Research Analyst, Choice Broking Ltd
Below the Quote on Pre-Market Comment 08 July 2025 by Mandar Bhojane, Research Analyst, Choice Broking Ltd
Indian benchmark indices are expected to open on a flat to slightly negative note today, as indicated by the GIFT Nifty, which points to a marginal decline of around 18 points in the Nifty 50. Market sentiment remains mildly indecisive, following a cautious close in the previous session.
In the last trading session, the Nifty 50 opened on a positive note but failed to sustain its upward momentum and moved sideways throughout the day. It ended slightly higher, forming a green candlestick that followed a bullish hammer pattern from the previous session. A sustained move above the 25,500 mark could pave the way for a further rally towards 25,750. On the downside, immediate support levels are seen at 25,222 and 25,120, which may serve as potential entry points for long positions.
The Bank Nifty index also closed the day nearly flat, declining by 82 points and forming a Gravestone Doji pattern which a signal of growing selling pressure. A decisive break below the key support level of 56,830 may lead to a decline toward 56,500 and 56,300. However, if these support levels hold and a reversal is observed, it could provide fresh buying opportunities. On the upside, resistance is expected around 57,100–57,200, with a breakout above this zone likely to trigger a move toward 57,500.
On the institutional front, Foreign Institutional Investors (FIIs) continued their selling streak for the fourth consecutive session, offloading equities worth Rs.1,481 crore on July 3. Meanwhile, Domestic Institutional Investors (DIIs) remained net buyers, purchasing equities worth Rs.1,333 crore during the same period.
In the current environment of heightened volatility and mixed market cues, traders are advised to follow a cautious "buy-on-dips" approach, particularly when using leverage. It is advisable to book partial profits during rallies and maintain tight trailing stop-losses to manage risk. Fresh long positions should be considered only if the Nifty sustains above the 25,600 mark. While the broader market undertone remains cautiously bullish, it is crucial to keep a close watch on key technical levels and global developments.
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