Market Summary for Thursday Monthly Expiry 25 July
On the monthly expiry, Nifty closed on a bullish note but couldn’t surpass the previous closing levels. Despite a gap-down opening of nearly 1%, Nifty formed a bullish candle on the daily timeframe, exactly at its 20-day exponential moving average, which served as a dip-buying opportunity in an uptrend.
Quarterly Results Highlight
Several companies released their quarterly results today, with Adani Green standing out by reporting a 79% increase, leading to a 6% intraday surge in its stock price.
Sector Performance
- Positive Performers: Media, Energy, Pharma, Infrastructure, and Auto sectors closed positively.
- Negative Performers: All other sectors ended the day in the red.
Key Stocks
- Tata Motors: The stock, a key player in the auto sector, surged over 6% intraday.
- India VIX: Volatility index increased by 7.31% today.
Commodities
- Gold Futures: After the import duty cut on gold, gold futures have plunged over 7% within three trading sessions.
Market Outlook
The gradual cooling off of the index valuations is expected to generate fresh buying opportunities.
Trade Recommendations by VLA Ambala
BTST (Buy Today Sell Tomorrow)
- Scrip Name: Adani Enterprises (ADANIENSOL)
- Trade Type: Buy
- Entry Price Range: 1020 – 1040
- Targets: 1095, 1230, 1270, 1320
- Time Period: 1 to 10 days
- Stop Loss: 970
Swing Trade
- Scrip Name: Jindal Saw (JINDALSAW)
- Trade Type: Buy
- Entry Price Range: 555 – 560
- Targets: 570, 585, 610
- Time Period: 1 to 10 days
- Stop Loss: 545
Support and Resistance Levels
Nifty:
- Support: 24350, 25230
- Resistance: 24480, 24580
Bank Nifty:
- Support: 50670, 50520
- Resistance: 51050, 51500
Analysis by SEBI Registered Research Analyst VAL Ambala.
Disclaimer: V.L.A. Ambala emphasizes that these recommendations are based on price movement, past behavior, and technical analysis.
Stay cautious and keep an eye on key levels and upcoming budget announcements to adjust your strategies accordingly.
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This analysis and recommendations are provided by SEBI registered research analyst VLA Ambala.
Tags: stock market, nifty