Morning Action @ 7 AM – Thursday, July 17th 2025

# Gift Nifty is indicating a solid higher start for the benchmark Nifty.

# That brings us to our call of the day suggests, it’s likely to be up again for benchmark Nifty…

The Positive Catalyst: Hopefully, the US-India tariff deal works out in favor towards India.

# That said, bears argue that Nifty’s upside will be capped as ‘Tariff Threats’ are still for real.

# The challenges of Trump Tariff aren’t over yet, hence, investors can’t be complacent on any excessive intraday strength.

# We will spy with one big eye if Nifty bulls can again battle out Trump’s tariff threats and global trade war which seems as rampant as ever.

# Bottom-Line: Nifty’s bullish constructive stance only above 25670 mark. Until then caution should be the buzzword. Immediate downside risk at 24901 mark.

# 7:00 AM GLOBAL UPDATE:
GIFT Nifty: (+38, 25269)
Dow Futures: (-45, 44209)
Nasdaq 100 Futures (-10, 22899)

Nikkei (-81, 39579)
Hang Seng (+29, 24547)

Dow Jones (+436, 44023)
Nasdaq Composite (+37, 20678)
Bovespa (+261, 135511).

# MARKET TRENDS:
Global cues: Positive
FII: (-1858.15 crores)
DII: (+1223.55 crores)
Sentiment: Bullish
Market Breadth: Positive
Technicals: Overbought conditions.
F&O: 24500 - 26000 zone.

India VIX 11.24 (-2.09%)
USD/INR Futures (29th July) 86.01
Nifty PCR (31st July) 1.03
Bank Nifty PCR (31st July) 0.87

# Nifty Outlook: The markets are awaiting some big trigger to jump towards Nifty’s all-high at 26277.35 mark.

Hopefully, the US-India tariff deal is favorable towards India. Finger Crossed.

# WHAT TECHNICALS TELLS US ON NIFTY & BANK NIFTY:

NIFTY (CMP 25212):
SUPPORT: 25000/24901
RESISTANCE: 25467/25670
RANGE: 25100-25400
BIAS: Positive
21 DMA: 25286
50 DMA: 25000
200 DMA: 24076

SENSEX (CMP 82634):
SUPPORT: 81800/80354
RESISTANCE: 83500/84100
RANGE: 82100-83100
BIAS: Positive
21 DMA: 82903
50 DMA: 82129
200 DMA: 79281

BANK NIFTY (CMP 57169)
SUPPORT: 56607/56000
RESISTANCE: 57615/58100
RANGE: 56700-57700
BIAS: Positive
21 DMA: 56815
50 DMA: 56059
200 DMA: 52323

WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

# The Positive Catalysts:

1) The US PPI came below forecasts.
2) Trump’s latest comments that he is “not planning on doing anything” to remove Fed Chair Powell.
3) Nasdaq scales new record highs.

# As on Wednesday's closing bell, the Nasdaq Composite was up 0.3% at 20,730, the S&P 500 gained 0.3% to 6,263, and the Dow Jones shed 0.5% to end at 44,023.

# Copper prices traded firm at $5.48 per pound as the theme revolves around Trump announcing plans to impose a 50% tariff on copper imports.

# Gold prices ($3340 per ounce) was seen consolidating with positive bias.

# WTI crude oil futures fell and were seen trading with slight negative bias, now near the $66.50 per barrel despite traders growing skeptical that President Trump’s new pressure campaign on Russia would significantly disrupt its oil exports

STOCK MARKET NEWS:

# Well, the markets are awaiting some big trigger to jump towards Nifty’s all-high at 26277.35 mark.

Hopefully, the US-India tariff deal is favorable towards India. Finger Crossed.

# Meanwhile, earnings season is always an exciting time since stocks typically go up during earnings season.

# We believe the uncertainties could be answered with upcoming earnings…

# Q1 Corporate India’s earnings season to trickle in this Thursday, July 17th:

CEAT
HERITANGE FOODS
HDFC ASSET MANAGEMENT
LTI MINDTREE
AXIS BANK
POLYCAB
WIPRO

Friday, July 18th: BANDHAN BANK, LT FINANCIAL, JSW STEEL

# Our call of the day suggests, the running of bulls shall continue albeit some serious consolidation.

# The biggest positive catalyst: India VIX continues to be depressed at 11.24 levels.

# Amongst stock specific action:

1) HDFC Bank (+0.03%) inched up on reports that it will consider its first-ever bonus issue of shares on July 19th.

2) Hathway Cable & Datacom (+5.84%) jumped % after the company’s consolidated net profit surged 68.92% to Rs 31.03 on a 5.55% increase in revenue from operations to Rs 530.50 crore in Q1 FY26 over Q1 FY25.

3) HDB Financial Services (-3.04%) dropped 2.67% after the company reported a 2.40% decline in net profit to Rs 567.70 crore, despite a 14.97% increase in total revenue from operations to Rs 4,465.40 crore in Q1 FY26 compared to Q1 FY25.

4) SBI (+1.72%) likely to launch Rs 25,000 crore QIP; LIC may invest Rs 7,000 crore: Report

State Bank of India (SBI) may launch a Rs 25,000 crore QIP on July 16, with LIC likely to invest Rs 7,000 crore as anchor. The move aims to boost SBI's capital adequacy and support future growth.

# Tech Mahindra reported a robust set of earnings for Q1 FY26, with the net profit jumping 34% year-on-year as expenses remained flat while revenue rose. Tech Mahindra reported a net profit of Rs 1,141 crore for the April-June quarter, rising from Rs 852 crore in the same period a year ago.

Deal wins have increased by 44% on a last twelve months basis.

# Now, before we get into detail of today’s trading session, here is the preferred trade on Nifty and Bank Nifty:

Nifty (25212): Buy at CMP. Stop at 24789. Targets 25289/24460. Aggressive targets at 25670-27000 zone.

Bank Nifty (57169): Buy at CMP. Stop at 55781. Targets 57300/57651. Aggressive targets at 58100-58300 zone.

# Our chart of the day is bullish on HDFC AMC, HUDCO, PRESTIGE ESTATES and M&M on any early excessive intraday declines with an interweek perspective.

# The 1 Stock to Buy Right Now: Buy JSW ENERGY (CMP 532): Buy at CMP. Stop at 513. Targets 551/561. Aggressive targets at 575. (Interweek Strategy). Rationale: Signaling a massive breakout on the upside on the daily charts from a lower consolidation zone. Key interweek support 515. Major hurdles only at 551. 200-DMA at 568.

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