Nifty resistance seen at around 25,500 levels: Analysts
Nifty
closed below the 25,000 level on Friday after declining almost 1%, and this weakness is likely to continue in the short term, said analysts. While levels around 24,500 are expected to act as key support for the benchmark, resistance is likely around the 25,200–25,500 zone. VIX levels could also see an uptick, especially closer to the monthly expiry. However, pharma stocks could continue their upward trajectory.
ARPAN SHAH
HEAD, TECHNICAL RESEARCH, MONARCH NETWORTH CAPITAL
Explore courses from Top Institutes in
Please select course:
Select a Course Category
others
Healthcare
Others
healthcare
Operations Management
Cybersecurity
Data Science
PGDM
Data Science
Technology
CXO
Digital Marketing
Project Management
MCA
Design Thinking
Leadership
Degree
Public Policy
Product Management
Finance
Management
Data Analytics
Artificial Intelligence
MBA
Skills you'll gain:
Duration:
16 Weeks
Indian School of Business
CERT - ISB Cybersecurity for Leaders Program India
Starts on
undefined
Get Details
Where is the Nifty headed this week?
The benchmark index traded with a negative bias and closed below the psychological 25,000 level with a bearish formation. Bank Nifty outperformed the benchmark index and closed with an indecisive candlestick formation on the weekly chart. FIIs have continued to add shorts on index futures, and their net short positions have reached 86%. Historically, the market has witnessed a short-covering rally once shorts reach the 86-89% zone. Traders can expect volatile momentum in all indices during the monthly expiry week. Nifty has support at 24,500 and resistance at 25,200–25,500 levels. Bank Nifty has support at 56,000 and resistance at 57,200–58,000 levels.
Trading strategies for the week
Pharma has seen outperformance in last two weeks and may continue its outperformance. Biocon is the top pick; Cipla and Syngene are in accumulation zone. RIL has reached near weekly support level; investors can accumulate at current levels. Jindal Steel and Power may continue upward momentum. Nifty Defence index has broken below a key support level; HAL and Mazagon Dock Shipbuilders have closed with bearish candlestick formation, and a rally is a short-selling opportunity. Investors can look to accumulate Capri Global Capital, Saksoft, RACL Geartech, and NLC India at current levels.
Live Events
Agencies
NILESH JAIN
VP, EQUITY TECHNICAL & DERIVATIVE RESEARCH, CENTRUM BROKING
Where is the Nifty headed this week?
The Nifty extended its losing streak for the fourth consecutive week. It faced strong resistance near its 21-DMA, currently around 25,300, which remains a key hurdle. It breached the support level of 25,000, which aligns with its 50-DMA, and this zone is now expected to act as a resistance. A decisive move back above 25,000 could trigger short covering, pushing the index towards 25,200. For the week ahead, the Nifty is likely to trade within a range of 24,500–25,200. The VIX seems to have found support near its multi-month low around 10-mark and has started inching higher, suggesting potential rise in market volatility.
Trading strategies for the week
With the monthly expiry approaching, markets are expected to remain volatile in coming week. We recommend focusing on stock-specific and sectoral opportunities rather than broader index moves. We are seeing sectoral rotation, with market focus shifting back towards defensive segments. The Pharma Index is exhibiting strength by forming a higher top–higher bottom structure, indicating positive short-term trend. Stocks such as Lupin, Cipla, Torrent Pharma, and Apollo Hospitals look well-positioned and can be considered for accumulation. In the insurance space, SBI Life and HDFC Life appear better placed. The IT sector is weighing down indices. The overall structure remains weak. As such, it is advisable to stay away from the sector for now. Additionally, oil & gas and FMCG sectors are also showing signs of weakness and lack nearterm conviction.
RUCHIT JAIN
HEAD, TECHNICAL RESEARCH, MOTILAL OSWAL FIN SERVICES
Where is the Nifty headed next week?
After an 18% rally from the April lows, Nifty has entered a corrective phase this July. Index closed the week below its 50-DEMA, and the RSI on daily and weekly charts continues to show a negative crossover. The index is expected to trade within a range of 24,600–25,250, and a decisive breakout above will be needed for resumption of uptrend. In case of a breakdown below 24,600, next support lies in previous swing low zone of 24,500–24,450.
Trading strategies for the week
Midcap and smallcap indices remain in a consolidation phase. Most sectoral indices are showing signs of a pause or pullback. We continue to advise short-term traders to stay cautious. Pharma and healthcare could outperform, and selective opportunities can be considered in Torrent Pharma, IPCA Labs, and Max Health
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Trump's Russian arms import jibe fires blanks
US President Donald Trump flagged import of Russian weapons by India as he announced a publishing tariff rate but numbers clearly show that New Delhi has been drastically cutting its reliance on Moscow in the past decade and has even walked away from major deals, including joint development of fifth generation fighter jets and transport aircraft. Over the past decade, India's import bill from Russia for arms has steadily come down - with Russia accounting for 72 percent of imports in 2010-14 to just about 36 percent in 2020-2024. At the same time, domestic production of arms has gone up sharply, with a 174 percent jump since 2014 as several private sector entities have entered the market. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Finance Public Policy MBA Operations Management Data Science Artificial Intelligence healthcare Data Analytics Digital Marketing Healthcare others Degree MCA Product Management Cybersecurity CXO Design Thinking Management PGDM Leadership Technology Data Science Others Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details The cutting down of Russian weapons imports has also benefitted countries like the US, Israel and France as their exports to India have increased. The US in particular has managed several big ticket sales to India, including MQ9B drones, P8I maritime aircraft and the Apache and Chinook helicopters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like AirSense 11 – Smart tech for deep sleep ResMed Buy Now Undo In fact, the last deal for a major new Russian weapon system was signed in 2019 for the production of AK 203 assault rifles in India. The $680 million contract is however dwarfed by orders to American entities like General Dynamics which got orders for drones worth $3.9 billion in October last year and General Electric (GE) that got engine orders worth $ 720 million in 2021. India has also over the past decade walked away from several major co development projects with Russia, as it looked to diversify suppliers and get access to cutting edge technology. This includes the joint development of a fifth generation fighter aircraft and a new generation Medium Transport Aircraft. Yet another plan to co produce a light helicopter has also been put in cold storage. Live Events On the other hand, joint development efforts with the US are on the rise under initiatives like the INDUS X and ICET that have identified several areas like maritime domain awareness, space and autonomous systems as priority areas.
Time of India
an hour ago
- Time of India
What really happens on a cruise ship during a tsunami? The truth may shock you
What really happens on a cruise ship during a tsunami? A huge 8.8-magnitude earthquake off the coast of Russia has sent tsunami warnings across the Pacific, which has scared cruise ship passengers. Ships from Hawaii to Alaska rushed to safety as the waves came in. But what really happens when a cruise ship gets into this kind of trouble? The truth is stranger and scarier than you think. While deep-sea waters can protect ships, the true danger is near ports. Passengers say that things were very chaotic as cruise ships quickly left the docks, sometimes leaving guests behind as panic grew. Besides Hawaii and Japan, advisories have been issued for Alaska, which is currently the busiest cruise destination. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Degree MCA Healthcare Data Science Finance Technology Product Management Project Management Design Thinking Public Policy Data Analytics CXO Others Cybersecurity MBA others Data Science Leadership Management PGDM Artificial Intelligence Operations Management healthcare Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Do tsunami waves hurt ships in the open sea? by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The deep ocean is the safest place for a ship during a tsunami, which is strange. Tsunami waves move quickly, but in deep water, they are hard to see. They are often only a few feet high across large areas. That changes a lot when the waves get close to land. They slow down, get taller, and become dangerous, as per a report by the Daily Mail. Officials have cautioned that there may be worse to come as waves from the earthquake have already been seen striking Maui, Hawaii. At a safe depth, which varies but is typically greater than 180 feet, tsunamis are comparatively innocuous to boats as they pass beneath. Live Events ALSO READ: Aimee Osbourne makes a rare appearance at Ozzy's Funeral, honouring a quiet legacy Only when they get close to shorelines, where the waves rise and become destructive, do they start to pose a threat. Warnings about ships at sea have been issued, according to Cruise Hive. "Avoid entering shallow water, harbors, marinas, bays, and inlets if at sea to avoid floating and submerged debris and strong currents," it says. To lessen the impact of waves, it has been recommended that any craft in the ocean relocate to water at least 180 feet deep. Teams on cruise lines monitor the weather and emergency conditions and advise the ship of any necessary route adjustments. It is unknown if the tsunami will force cruise ships to change their itineraries or skip ports of call. However, if ports are damaged by waves, it might be necessary to cancel visits to some areas. What happens if a cruise is docked during a tsunami warning? With peak cruise season in full swing, destinations like Hawaii and Alaska saw ships preparing for quick exits. Social media was flooded with dramatic footage. One TikTok user, @demifreeman, captured passengers sprinting down a Hawaiian pier as their cruise ship began pulling away without them. 'Actually insane,' she wrote. 'We are going to be in the middle of the tsunami in the ocean.' Another clip from @mandythecruiseplanner showed a busload of frustrated tourists who'd missed their boat as it rushed to deeper waters for safety. ALSO READ: Microsoft reveals 40 jobs AI is coming for, and 40 it can't touch yet - is yours on the list? How do cruise ships respond to tsunami threats? Cruise ships might also have to avoid the coast for a while until things settle down, depending on the aftershock's strength and timing. Ships may employ specific strategies, like navigating away from the epicentre, according to Cruise Passenger. They will stay in touch with emergency services and authorities to receive situational updates. It coincides with reports from some vacationers that cruise ships are departing empty as they leave ports to go to deeper waters. A reality check for travelers For those cruising in paradise, the past few days have been a sobering reminder: even in luxury, nature calls the shots. From Russia's tremors to Hawaii's swells, this tsunami alert has exposed just how vulnerable sea travel can be. FAQs Are cruise ships safe from tsunamis? Yes, if they're in deep water, usually 180 feet or more away from the shore. Can cruise ships leave passengers behind during an emergency? Yes. Ships may leave without warning if they need to avoid incoming waves.
Time of India
an hour ago
- Time of India
England and Wales Cricket Board locks in six franchise partners for The Hundred
The England and Wales Cricket Board ( ECB ) has finalised franchise partnerships for six teams in The Hundred , its franchise-based professional cricket competition that's poised to become a hot favourite with fans and one of the most valued sporting properties, with two more deals expected to close soon under an option offered to investors for later completion. An American tech consortium led by Times Internet vice chairman Satyan Gajwani and Palo Alto Networks CEO Nikesh Arora has acquired a 49% stake in the Lord's-based London Spirit for £145 million, valuing the team at £295 million. The franchise boasts some other heavy hitters as its backers-Google CEO Sundar Pichai, Microsoft CEO Satya Nadella, Adobe CEO Shantanu Narayen, and Silver Lake co-CEO Egon Durban. The group hit the ball out of the park, outbidding the RP-Sanjiv Goenka Group, and making London Spirit the most valuable franchise in The Hundred to date. Explore courses from Top Institutes in Please select course: Select a Course Category Product Management Technology Operations Management Artificial Intelligence healthcare Design Thinking Data Analytics Degree Healthcare MBA Cybersecurity Public Policy Data Science Digital Marketing Others Project Management others Data Science CXO Finance PGDM Leadership MCA Management Skills you'll gain: Product Strategy & Competitive Advantage Tactics Product Development Processes & Market Orientations Product Analytics & Data-Driven Decision Making Agile Development, Design Thinking, & Product Leadership Duration: 40 Weeks IIM Kozhikode Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Creating Effective Product Roadmap User Research & Translating it to Product Design Key Metrics via Product Analytics Hand-On Projects Using Cutting Edge Tools Duration: 12 Weeks Indian School of Business ISB Product Management Starts on May 14, 2024 Get Details Skills you'll gain: Product Strategy & Roadmapping User-Centric Product Design Agile Product Development Market Analysis & Product Launch Duration: 24 Weeks Indian School of Business Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details "Being part of London Spirit - and calling the iconic Lord's our home - is a real privilege," said Gajwani. "It's more than a partnership, it's a chance to blend our passion for cricket with our strengths in technology and business to reimagine the fan experience while staying true to the spirit of the game." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo The competition is set to benefit from a wide range of expertise across sport, media, technology, and finance with each investor bringing their own perspective and approach, the ECB said. The completed partnerships include London Spirit with Tech Titans, Birmingham Phoenix with Knighthead Capital Management, Manchester Originals with RPSG Group, Northern Superchargers with Sun TV Network , Southern Brave with GMR Group, and Welsh Fire with Washington Freedom. Live Events Agreements involving Oval Invincibles with Reliance Group and Trent Rockets with Cain International and Ares Management are on track to be finalised, the ECB added. Collectively, the eight deals value the teams at more than £975 million, with over £500 million committed to investment across the cricket ecosystem in England and Wales. This includes a dedicated £50 million fund for grassroot cricket, while the remainder will be distributed among the professional county system. This positions The Hundred as the second-most valuable cricket league globally, behind only the Indian Premier League, which is valued at $18.5 billion, according to Houlihan Lokey. Under the new structure, most investors will collaborate with host clubs and assume operational control of their teams starting October 1, 2025.
