Quote on Pre-Market Comment 30th July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Below the Quote on Pre-Market Comment 30th July 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Indian benchmark indices are expected to open on a flat to negative note today, as suggested by the GIFT Nifty, which indicates a marginal downtick of around 20 points in the Nifty 50. Market sentiment remains cautiously optimistic amid elevated volatility and mixed global cues.
On the technical front, the Nifty has taken support at its 100-day EMA and managed to close above the key 24,800 level. The formation of a bullish candlestick pattern, supported by strong volumes, reflects buying interest at lower levels. If the index sustains above 24,800, a further rally toward 25,000 and 25,200 can be anticipated in the near term. However, on the downside, 24,600 serves as immediate support, and a decisive break below this level could trigger a deeper correction toward 24,200–24,160.
Bank Nifty, after breaking down from a narrow consolidation range, has retested the breakdown level and is currently trading near a critical zone. If the index holds above 56,275, it may extend its gains toward 57,000 and 57,630 in the near term. On the downside, key support is placed at 55,500–55,150. The RSI stands at 44.93 and is trending upward, indicating improving momentum. The broader structure remains bullish, suggesting that any dips could be viewed as buying opportunities.
On the institutional activity front, Foreign Institutional Investors (FIIs) sold equities worth ?4,636 crore on July 29, continuing their selling trend. Meanwhile, Domestic Institutional Investors (DIIs) remained net buyers, investing ?6,146 crore into equities on the same day.
Given the prevailing market conditions characterized by uncertainty and high volatility, traders are advised to adopt a cautious "wait and watch" approach, especially when trading with leverage. Booking partial profits on rallies and maintaining tight trailing stop-losses is essential for effective risk management. Fresh long positions should only be considered if the Nifty sustains above the 25,150 mark. Overall, the market sentiment remains cautiously bullish, with close attention required on key breakout levels and global developments.
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