Quote on Pre-Market Comment 10 July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Below the Quote on Pre-Market Comment 10 July 2025 by Hardik Matalia, 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 suggests a marginal decline of around 17 points in the Nifty 50. Market sentiment remains mildly indecisive, following a cautious close in the previous session.
The Nifty 50 opened on a weak note and remained range bound for most of the session. However, a sudden sell-off toward the end dragged the index lower. Technically, a sustained move above the 25,600 level could pave the way for an upward rally toward the 25,750 mark. On the downside, immediate support is seen at 25,378 and 25,222. These levels may offer potential entry points for long trades if the market finds stability around them.
The Bank Nifty index ended the day nearly flat, closing with a minor loss of 42 points. Notably, it formed a Dragonfly Doji pattern on the charts, signaling strong buying interest at lower levels. A decisive breakdown below the key support of 57,000 could lead to further downside towards 56,800 and 56,500. However, if these supports hold, the index may stage a reversal, presenting fresh buying opportunities. On the upside, resistance is expected in the 57,300–57,500 zone, and a breakout above this range could trigger a rally toward the 58,000 level.
On the institutional front, Foreign Institutional Investors (FIIs) were net buyers of equities worth Rs.77 crore on July 9, while Domestic Institutional Investors (DIIs) were also net buyers, investing Rs.920 crore on the same day.
Given the prevailing environment of heightened volatility and mixed market cues, traders are advised to adopt a cautious "buy-on-dips" approach, especially when using leverage. It is prudent to book partial profits during rallies and maintain tight trailing stop-losses to manage risk effectively. Fresh long positions should be considered only if the Nifty sustains above the 25,600 level. While the broader market undertone remains cautiously bullish, close attention should be paid to key technical levels and evolving global developments.
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