Stock market today: Indian stock markets had a subdued opening on Monday, with both key indices starting flat as investor sentiment continued to be weak due to ongoing uncertainties surrounding the India-US trade agreement.
The Nifty 50 index commenced at 24,999, increasing by 30.60 points or 0.12%, while the BSE Sensex launched at 81,918.53, reflecting a rise of 160.80 points or 0.20%. Both indices experienced a decline in the initial trading session, reversing their opening gains.
This follows three consecutive weeks of losses in the markets and marks ten months since Indian indices last reached their all-time highs in September 2024.
Analysts suggest that the stagnation in the fifth round of India-US trade negotiations is negatively impacting investor confidence.
Technical views by Rupak De, Senior Technical Analyst, LKP Securities on F&O market:
Nifty 50 saw a short-term correction of around 3%, slipping below the 25,000 mark. It did manage to find some support near 24,900. The good part is that it’s still holding above the 50-day exponential moving average (50EMA), which keeps the chances of a short-term bounce alive. However, the key level to watch on the upside is 25,260—unless that’s taken out decisively, selling could continue at higher levels. On the flip side, if 24,900 breaks, the index might head further down toward 24,500.
Open Interest Analysis: Good additions were seen in the open interest at the 25,100/25,000 CALL.
While PUT writing remained negligible on Friday. Maximum CALL open interest was seen at the 25,200 strike, whereas maximum PUT open interest was seen at 24,900, indicating a broader range for the market. Currently the CALL writers are heavily outnumbering the PUT writers for current weekly expiry.
Strategy: Strength increases if Nifty 50 sustains above 25,000 in the first hour.
Trade: Buy Nifty 50 24 July 25100CE ABOVE 90 TGT 150 SL 54.
Buy Jubilant Pharmova Ltd at ₹1,235 | Target: ₹1,330 | Stop Loss: ₹1,194
Jubilant Pharmova share price has broken past multiple resistance levels on the daily chart, reflecting growing positive sentiment. It is also holding above a key moving average, adding strength to the trend. A higher high–higher low formation suggests an upward trajectory. In the near term, the stock may head towards ₹1,330. A close below ₹1,194 could negate the bullish outlook.
Buy Steel Authority of India Ltd (SAIL) at ₹136.60 | Target: ₹143 | Stop Loss: ₹132
SAIL share price has witnessed a breakout from a consolidation phase, indicating renewed bullish momentum. It continues to trade above a key moving average and is holding above a recent swing high on the daily chart—both signs of strength. In the short term, the stock could move towards ₹143, while support is seen at ₹132. A breach below this may weaken the trend
Buy Aadhar Housing Finance Ltd at ₹503 | Target: ₹530 | Stop Loss: ₹484
Aadhar Housing Finance share price has broken out above a swing high on the weekly chart, signaling rising bullish sentiment. It is also sustaining above a key moving average on the weekly timeframe. With the RSI showing a bullish crossover and trending higher, momentum appears strong. As long as it holds above ₹490, the outlook remains positive with potential to test ₹530.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
