Morning Action @ 7 AM – Thursday, July 24th 2025

# Gift Nifty is indicating a positive start for the benchmark Nifty.

# The big question of the day: Will Nifty lose steam into the close?

# Nifty's optimism is actually in the shadow of a bullish theme at global stock markets.

As of writing, Wall Street stock futures and Japanese Nikkei are up as the bullish theme revolves around a trade deal with Japan that includes 15% tariffs on Japanese imports—lower than the previously threatened 25%.

# The US reportedly is also closing in on a deal to lower tariffs on the EU to 15% from the earlier threat of 30%, consistent with set moves on Japan.

# Excessive optimism shall continue to be the preferred for Nifty on hopes of favorable US-India tariff deal.

# INFY’s Q1FY26 better than the street's estimate shall also help sentiments.

# Bottom-line: Bullish consolidation shall be the preferred theme amidst the familiar uncertainty: Potential US-India trade developments.

# Long Story short: Nifty is likely to aim for back-to-back gains.

# 7:00 AM GLOBAL UPDATE:
GIFT Nifty: (+34, 25283)
Dow Futures: (-77, 44934)
Nasdaq 100 Futures (+116, 23278)

Nikkei (+718, 41888)
Hang Seng (-10, 25528)

Dow Jones (+507, 45010)
Nasdaq Composite (+127, 21020)
Bovespa (+1332, 135368)

# MARKET TRENDS:
Global cues: Positive
FII: (-4209.10 crores)
DII: (+4358.50 crores)
Sentiment: Bullish
Market Breadth: Positive
Technicals: Massive breakout
F&O: 24500 - 26000 zone.

India VIX 10.52 (-2.21%)
USD/INR Futures (29th July) 86.46
Nifty PCR (31st July) 0.99
Bank Nifty PCR (31st July) 0.96

# Nifty Outlook: Nifty is likely to trade on the front foot. Nifty’s bullishness has legs on hopes of favourable tariff deal.

# WHAT TECHNICALS TELLS US ON NIFTY & BANK NIFTY:

NIFTY (CMP 25220):
SUPPORT: 25110/24881
RESISTANCE: 25421/25670
RANGE: 25150-25500
BIAS: Positive
21 DMA: 25320
50 DMA: 25060
200 DMA: 24057

SENSEX (CMP 82727):
SUPPORT: 82300/81500
RESISTANCE: 83300/85978
RANGE: 82500-84000
BIAS: Positive
21 DMA: 82997
50 DMA: 82258
200 DMA: 79224

BANK NIFTY (CMP 57210)
SUPPORT: 56700/56200
RESISTANCE: 57615/58700
RANGE: 56900-58100
BIAS: Positive
21 DMA: 56998
50 DMA: 56279
200 DMA: 52413

WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

# Wall Street rings solid gains in Wednesday’s trade as Nasdaq and the S&P 500 scale fresh record highs boosted by news of a trade deal with Japan.

# The Dow Jones is within striking distance of its record all-time-high (The Dow is now 4-points from a new all-time high).

# Overnight, also helping sentiments were reports that the US reportedly is also closing in on a deal to lower tariffs on the EU to 15% from the earlier threat of 30%, consistent with set moves on Japan.

# Gold prices ($3393 per ounce) spikes higher with positive bias, reaching its highest level since mid-June amidst mounting trade tensions.

# WTI crude oil futures fell and were seen trading with negative bias, now near the $65.55 per barrel.

# STOCK MARKET NEWS:

# Nifty and Bank Nifty jumped out of the gate in yesterday’s trade and that is in line with our call of the day which suggests the running of bulls shall continue.

# Nifty (CMP 25220) immediate hurdles placed only at 25670 mark.

# Nifty's optimism is actually in the shadow of a bullish theme at global stock markets after a trade deal with Japan that includes 15% tariffs on Japanese imports—lower than the previously threatened 25%.

# The US reportedly is also closing in on a deal to lower tariffs on the EU to 15% from the earlier threat of 30%, consistent with set moves on Japan,

# Excessive optimism shall continue to be the preferred for Nifty on hopes of favourable US-India tariff deal.

# INFY’s Q1FY26 better than the street's estimate shall also help sentiments.

Infosys said it expects revenue growth of 1–3% in constant currency terms for FY26, revised up from 0-3 percent earlier. The firm maintained its operating margin guidance at 20–22%.

The company signed large deals worth $3.8 billion during the quarter, of which 55% were net new.

# Commanding attention will be Q1 Corporate India’s earnings season.

Thursday, July 24th: ACC, CANARA BANK, BAJAJ FINANCE, IEX, MPHASIS, UJJIVAN SMALL FINANCE BANK, NESTLE, INDIAN BANK

Friday, July 25th: LAURUS LAB, CIPLA, BAJAJ FINSERV, PETRONET, SHRIRAM FINANCE.

# Now, let’s watch out stocks which are on spotlight:

1) Dalmia Bharat (-2.16%) dropped despite Q1FY26 PAT climbs 179% YoY to Rs 393 cr, compared to Rs 141 crore posted in Q1 FY25.

2) Dixon Tech (+2.84%) gains as PAT doubles to Rs 280 cr in Q1 FY26.

2) Oberoi Realty declined 3.10% after the company reported a 27.9% decline in consolidated net profit to Rs 421.25 crore on 29.7% fall in net sales to Rs 987.55 crore in Q1 June 2025 over Q1 June 2024.

4) Indian Railway Finance Corporation (IRFC) rallied 3.10% after the company’s net profit rose by 10.70% to Rs 1,745.69 crore in Q1 FY26 as against Rs 1,576.83 crore posted in Q1 FY25

# Technically, a problem could bubble under the surface ONLY if the Nifty slides below its biggest support at 24881 mark.

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

Nifty (25220): Buy at CMP. Stop at 24909. Targets 25421/24670. Aggressive targets at 26277-27000 zone.

Bank Nifty (57210): Buy at CMP. Stop at 56323. Targets 57615/58100. Aggressive targets at 58700-59300 zone.

# Our chart of the day is bullish on M&M, DEEPAK FERTILISER, JINDAL STEEL and NYKAA on any early excessive intraday declines with an interweek perspective.

# The 1 Stock to Buy Right Now: Buy M&M (CMP 3269): Buy at CMP. Stop at 3131. Targets 3303/3367. Aggressive targets at 3501. (Interweek Strategy). Rationale: Massive breakout play on cards on the monthly charts. The stock is witnessing bullish consolidation. Momentum oscillators in bullish mode. Key interweek support 3152. Confirmation of strength above major hurdles at 3303.

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