This week, the Indian stock market experienced notable profit booking, with the Nifty 50 closing at 25,149, down by 1% on a weekly basis. After trading between 25,200 and 25,600, the index fell sharply on Friday, July 11, due to concerns over weak corporate earnings, especially after Tata Consultancy Services (TCS) posted disappointing results. Global factors, such as fresh tariff announcements by U.S. President Donald Trump, also added to investor worries.
Despite these pressures, Nifty continues to show strength by holding above the important support zone of 25,000–25,200. If it remains above this level, it may move upward toward 25,600–26,000 in the coming weeks. However, if it falls below 24,800, it could indicate a short-term correction.
Strong support is visible at 25,000, while immediate resistance lies at 25,500. A breakout above 25,600 would confirm a fresh bullish trend, but until then, traders are advised to focus on individual stocks.
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Similarly, Bank Nifty also witnessed profit booking and ended the week at 56,754. It has a solid support base at 56,000. As long as it stays above this level, there is potential for an upward move toward the 57,500–58,000 range. Both Nifty and Bank Nifty closing above their monthly support levels suggests the broader market trend remains positive, but immediate resistance levels of 25,600 (Nifty) and 58,000 (Bank Nifty) will be key in determining the short-term direction. A breakout above these resistance levels could lead to further gains, while failure to do so may keep the market range-bound.
In terms of stock recommendations for Monday, July 14, Ganesh Dongre of Anand Rathi suggests buying SBI in the ₹805–₹810 range with a stop loss at ₹785 and a target of ₹830. He also recommends buying SBI Life at ₹1830–₹1840 with a stop loss at ₹1780 and a target of ₹1900. Additionally, he advises selling Cholamandalam Investment at ₹1530–₹1540 with a stop loss at ₹1590 and a target of ₹1500. These suggestions are based on technical analysis, and investors should consult a certified advisor before making any investment decisions.
