Morning Action @ 7 AM – Wednesday, July 23rd 2025

# Gift Nifty is indicating a positive start for the benchmark Nifty as Wall Street stock futures and Japanese Nikkei are up after President Donald Trump announced a new trade agreement with Japan that includes a 15% tariff on Japanese exports to the US.

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

# Well, attention also remains squarely focused on:

1) Any potential agreements between the US-India trade developments.
2) Traders also brace for a busy week of big-corporate earnings.

# Long Story short: Volatility lies ahead amidst the familiar uncertainty: Potential US-India trade developments.

# MARKET TRENDS:
Global cues: Positive
FII: (-3548.92 crores)
DII: (+5239.77 crores)
Sentiment: Risky
Market Breadth: Negative
Technicals: Consolidation
F&O: 24500 - 26000 zone.

India VIX 10.75 (-4.02%)
USD/INR Futures (29th July) 86.44
Nifty PCR (31st July) 0.92
Bank Nifty PCR (31st July) 0.74

# Nifty Outlook: Keeping traders busy will be the upcoming India and the US bilateral trade pact ahead of the August 1st deadline.

Investors will hope for a favourable deal towards India.

# WHAT TECHNICALS TELLS US ON NIFTY & BANK NIFTY:

NIFTY (CMP 25061):
SUPPORT: 24881/24473
RESISTANCE: 25221/25670
RANGE: 24900-25200
BIAS: Neutral
21 DMA: 25311
50 DMA: 25049
200 DMA: 24057

SENSEX (CMP 82187):
SUPPORT: 81500/80354
RESISTANCE: 83000/85978
RANGE: 81500-82700
BIAS: Neutral
21 DMA: 82965
50 DMA: 82230
200 DMA: 79223

BANK NIFTY (CMP 56756)
SUPPORT: 56100/55149
RESISTANCE: 57615/58700
RANGE: 56100-57100
BIAS: Neutral
21 DMA: 56963
50 DMA: 56230
200 DMA: 52387

# STOCK MARKET NEWS:

# The negative takeaway from yesterday’s was that the smile was clearly missing at the bulls’ camp, and most importantly, even the vision was blurred.

Sentiments were depressed all across Dalal Street and the negative takeaway was that Nifty’s future outlook was as clear as mud and also considered murky.

# Our call of the day suggests Nifty may step back on any intraday strength, and most importantly, may swing between small gains and losses.

# Nifty may wobble on backdrop of:

1) The street anxiously awaits any potential agreements between the US-India trade developments.

2) Trader’s digest uninspiring and brace for a busy day of big-corporate earnings.

3) FII selling: This July, the FIIs are net sellers to the tune of Rs. 21964 crores.

# Technically, a problem could bubble under the surface if the Nifty is unable to move above its biggest hurdles at 25421 mark.

Nifty's support at 24881 mark.

# Q1 Corporate India’s earnings season to trickle in:

Wednesday, July 23rd: DR REDDYS LAB, FORCE MOTORS, OFSS, PERSISTENT SYSTEMS, SRF, INFOSYS, TTML, SYNGENE

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

1) Dr. Reddy’s Laboratories fell 1.53% after the firm announced that its Active Pharmaceutical Ingredient (API) manufacturing facility in Middleburgh, New York, has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA).

2) Oberoi Realty declined 0.46% 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.

3) B. L. Kashyap was trading with positive bias after the company announced that it has secured an order worth Rs 910 crore from BPTP.

4) JSW Infra's Q1FY26 results: Profit jumps amid cargo volume growth by 31% YoY to Rs 384.68 crore, driven by a 5% rise in cargo volumes, including contributions from its coal terminals and the integration of Navkar Corporation

5) Eternal zoomed 10.34% after its quick commerce business, Blinkit, surpassed the food delivery segment in revenue during Q1 FY26. Eternal's quick commerce segment (Blinkit) Q1 revenue stood at Rs 2,400 crore (+155% YoY), surpassing the food ordering and delivery segment revenue of Rs 2,261 crore (+16.43% YoY).

6) Info Edge (Naukri) gained 4.21% as the firm holds a 12.38% stake in Eternal as of June 2025, saw its shares benefit sharply from Eternal's rally.

# Long Story Short: There is a possibility that investors could turn nervous. Very nervous.

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

Nifty (25061): Buy at CMP. Stop at 24709. Targets 25221/24451. Aggressive targets at 25670-27000 zone.

Bank Nifty (56756): Buy at CMP. Stop at 55703. Targets 57000/57615. Aggressive targets at 58100-58300 zone.

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

# The 1 Stock to Buy Right Now: Buy M&M (CMP 3257): Buy at CMP. Stop at 3131. Targets 3271/3367. 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 3271.

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