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Technical Snapshot

Key Highlights:

NIFTY SPOT: 25461.3 (0%)

TRADING ZONE:

Resistance :25600 (Pivot Level) and 25700 (Key Resistance).

Support: 25300 (Pivot Level) and 25200 (Key Support).

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 59515.75 (-0.27%), SMALLCAP 250: 18950.15 (-0.44%)

VIEW: Bullish till above 25200 (Key Support).

BANKNIFTY SPOT: 56949.2 (-0.15%)

TRADING ZONE:

Resistance: 57500 (Pivot Level) / 58000 (Key Resistance)

Support: 56500 (Pivot Level) / 56000 (Key Support).

VIEW: Bullish till above 56000 (Key Support).

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75% - 5.35% on Monday ended at 4.85%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.2933% on Monday Vs 6.2947% on Friday .

Global Debt Market:

U.S. Treasury yields were little changed Monday as investors monitored trade tensions amid an extension of the 90-day tariff reprieve deadline and as U.S. President Donald Trump threatened more tariffs. The benchmark 10-year yield was up just over one basis point to 4.353%. The 30-year bond yield was also up over 2 basis points to 4.882%. The 2-year Treasury yield was down one basis point to 3.871%. Investors have been monitoring the approaching deadline for Trump’s 90-day tariff reprieve on most countries, with tariffs expected to revert to April 2 levels on Tuesday. However, Trump and Commerce Secretary Howard Lutnick clarified to reporters on Sunday that reciprocal tariffs will return to original levels on Aug. 1, for countries without a deal already. “Tariffs go into effect Aug. 1. But the president is setting the rates, and the deals, right now,” Lutnick said. Treasury Secretary Scott Bessent also said on CNN on Sunday: “President Trump’s going to be sending letters to some of our trading partners saying that if you don’t move things along, then on August 1, you will boomerang back to your April 2 tariff level.” More tariff drama developed on Sunday as Trump threatened additional 10% tariffs on nations that align themselves with the “Anti-American policies of BRICS.” BRICS’ members — which include Brazil, Russia, India and China — are meeting in Rio de Janeiro, Brazil. The bloc’s leaders criticized Trump’s tariff policies in a joint statement on Sunday, warning against “unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs.” On the economic data front, it’s quiet this week, but investors will keep an eye out for the FOMC meeting minutes on Wednesday and weekly initial jobless claims on Thursday.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.2850% to 6.30% level on Tuesday

SEBI Registration number is INH000000081.

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