This week, the Indian stock market saw some profit booking. The Nifty 50 index closed at 24,837, falling by 0.75% for the week. It moved mostly in the 24,800–25,200 range. On Friday, investors sold off due to worries about weak corporate earnings and uncertainty around upcoming U.S. tariffs.
Even with this selling pressure, the Nifty held above 24,800, which is an important support level. This level is also where the 61.8% Fibonacci retracement is placed, making it a strong point for potential recovery.
Nifty 50 Technical Outlook:
- If Nifty goes above 25,000–25,200, it could move further up to 25,300.
- If it drops below 24,800, a short-term correction might happen.
- Right now, as long as Nifty stays between 24,800–25,200, the market outlook remains positive.
- Derivatives data shows strong support at 24,800 and resistance around 25,000–25,200.
- Until a clear breakout happens, experts recommend focusing on individual stock trades.
Bank Nifty Outlook:
The Bank Nifty index did slightly better, closing up 0.30% at 56,528 for the week. It has a strong support level at 56,000. As long as this holds, the index could move up towards 57,500–58,000 soon.
Read more: Kotak Mahindra Posts ₹4,472 Cr Q1 Profit; Impacted by Last Year’s Stake Sale
Final Thoughts:
- Both Nifty and Bank Nifty are holding above their monthly support levels.
- But they must break above 25,600 (Nifty) and 58,000 (Bank Nifty) for more gains.
- Until then, the market may stay within a range.
- Traders should stay cautious but positive and focus on specific stock opportunities.
Top Stock Picks for Monday (28 July 2025):
- Glenmark Pharmaceuticals
- Buy at: ₹2145–2150
- Stop Loss: ₹2100
- Target: ₹2200
- Tata Chemicals
- Buy at: ₹935–940
- Stop Loss: ₹920
- Target: ₹980
- TVS Motor Company
- Buy at: ₹2770–2780
- Stop Loss: ₹2720
- Target: ₹2850
Note: These are expert recommendations. Please consult a certified financial advisor before investing.
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