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Below the Quote on Pre-market comment 28th July 2025 by Mandar Bhojane, Senior Technical & Derivative Analyst, Choice Broking

Indian benchmark indices are likely to open on a flat to negative note today, as indicated by the GIFT Nifty, which suggests a marginal downtick of around 15 points in the Nifty 50. Market sentiment continues to remain cautiously optimistic amidst heightened volatility and mixed global cues.

On Friday, the Nifty 50 extended its decline, slipping below the immediate support level of 24,900 and settling at 24,837. The fall was largely driven by weak global signals and disappointing corporate earnings. For any meaningful upside to resume, the index needs to decisively close above the 25,150 mark. A breakout above this level could open the door for higher targets around 25,500 and 25,700 in the upcoming sessions. Until then, the broader outlook remains sideways to bearish.

The Bank Nifty closed the week near 57,010 and continued to face stiff resistance in the 57,200–57,300 zone. The index remains in a consolidation phase, with immediate resistance seen around 57,000. A breakout above 57,630 could potentially ignite a bullish rally toward the 58,000 and 58,500 levels. Conversely, a breach below the key support of 56,275 may trigger a further decline toward 55,550–55,150. Traders should watch for a decisive move beyond this range to determine the next trend.

On the institutional activity front, Foreign Institutional Investors (FIIs) extended their selling streak for the fifth consecutive session, offloading equities worth Rs.1,979 crore on July 25. In contrast, Domestic Institutional Investors (DIIs) remained net buyers, investing Rs.2,138 crore into equities on the same day.

Considering the current market environment marked by uncertainty and elevated volatility, traders are advised to maintain a cautious “wait and watch” stance, particularly when dealing with leveraged positions. Booking partial profits on rallies and using tight trailing stop-losses are recommended strategies to manage risk. Fresh long positions should be considered only if the Nifty sustains above the 25,150 level. Overall, the market sentiment remains cautiously bullish, with traders advised to keep a close eye on key breakout levels and global developments.

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