Quote on Pre-Market Comment 24th July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Below the Quote on Pre-Market Comment 24th July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Indian benchmark indices are expected to open on a positive note today, as suggested by the GIFT Nifty, which indicates a marginal uptick of around 22 points in the Nifty 50. Market sentiment remains cautiously optimistic amid heightened volatility and mixed global cues.
The Nifty 50 opened positively but briefly dipped below its intraday support at 25,100 before recovering sharply. It gained nearly 145 points from the day’s low, forming a strong bullish candlestick on the daily chart. This rebound highlights buyer strength at lower levels. A sustained move above 25,250 could potentially open the path toward the 25,330 mark. On the downside, immediate support is placed at 25,125, followed by 25,000—both of which may serve as key levels for initiating long positions.
The Bank Nifty outperformed the broader index, rising 454 points and forming a bullish candlestick, indicating renewed buying interest. Key support levels are seen at 57,300, 57,175, and 57,000. Holding above these levels may provide further upside potential, while resistance is expected around the 57,500–57,650 zone. A decisive breakout above this resistance range could trigger a rally toward the psychological 58,000 mark.
On the institutional front, Foreign Institutional Investors (FIIs) continued their selling streak for the second consecutive session, offloading equities worth Rs.4,209 crore. In contrast, Domestic Institutional Investors (DIIs) maintained their buying momentum for the 13th straight day, investing Rs.4,358 crore into equities.
Given the current market setup, traders are advised to follow a cautious 'buy-on-dips' approach, particularly when trading with leverage. Booking partial profits during rallies and maintaining tight trailing stop-losses will be essential for effective risk management. Fresh long positions should be considered only if the Nifty sustains above the 25,250 level. While the broader market tone remains cautiously bullish, it is important to closely monitor key technical levels and evolving global developments.
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