Nifty Outlook

The tug-of-war between the bulls and bears continue as the market lacks direction, suggests the ADX index, which needs to cross the 25-mark for a directional move, says Ajit Mishra of Religare Broking

Vinay Rajani of HDFC Securities has said that Nifty faces immediate resistance at 24,530, while 24,000 remains a key support. For trading, he has recommended buying L&T Finance and HAL stocks today.

Technical analysts believe that the Nifty is showing mixed signals on the short-term chart amid the renewed US-Iran war worries and high oil prices. Here are the key levels to watch out for.

Jatin Gedia of Teji Mandi reckons that the Nifty, Bank Nifty have slipped back into the correction zone; he recommends buy on Oil India and Exide Industries.

Indian market are likely to trade on a cautious note after fresh US strikes on Iran; key support for Nifty seen at 24,300 and 24,200, says Ponmudi R of Enrich Money.

Hitesh Rathi of Angel One recommends adopting a buy on dips approach for the Nifty, with prior resistance zone of 24,180-24,100 now likely to act as an immediate support cluster.

Technical analysts at SBI Securities and Choice Broking expect the Nifty to retest record highs around 26,350, and Sensex to rally toward 89,000 in an optimistic scenario.

Market outlook: Nifty and Bank Nifty are likely to remain rangebound until a decisive breakout on either side, says Jatin Gedia, VP - Technical Research at Teji Mandi Investment Technologies.

Market analysts highlight that the Nifty has been consolidating in the 23,800-24,200 range in recent trading sessions, a breakout in either direction could set the trend in July 2026.

Analysts believe that significant Call Open Interest concentrated at 24,000, 24,100 and 24,200 Strikes suggests likely resistance around these levels.

Nifty's 100-DEMA around 24,140-24,170 zone is an immediate hurdle; breakout above this can trigger a rally towards 24,500-24,600 levels, says Osho Krishan, technical and derivatives at Angel One.

Gland Pharma has given a breakout from a bullish 'Inverted head and shoulder' pattern, and Viyash Scientific from bullish 'Cup and handle pattern', says Vinay Rajani of HDFC Securities.

Chandan Taparia of Motilal Oswal Financial Services expects Nifty and Bank Nifty to trade with a weak bias as long as they remain below 23,850 and 57,250, respectively.

An analysis of Nifty 500 stocks, reveals that nearly 50 per cent of the shares trade on either side of the long-term 200-day moving average; thus suggesting that the market is at crossroads currently.

The formation of a 'Doji' candlestick on the Nifty weekly chart reflects indecision between bulls and bears, explains Hitesh Rathi, technical analyst at Angel One.

Trading strategy, stock picks today: Jatin Gedia of Teji Mandi Investment Technologies decodes key levels to track on Nifty, Bank Nifty; and 3 stocks to buy basis on technical charts.

Stocks to buy today: Vinay Rajani of HDFC Securities has a positive outlook on Equitas Small Finance Bank and Titagarh Rail Systems.

Technical analysts believe that the Nifty can potentially surge to 24,600 from here if it clears hurdles at 23,800 and 24,200-24,300 levels.

The Nifty has broken above the recent swing high near the 23,530 mark decisively, indicating a possible reversal in the immediate trend, says Hitesh Rathi, Technical Analyst at Angel One.

Technical analysts caution that the short-term trend for Nifty remains weak, and the index could extend the fall toward 22,800-22,700 levels in the coming sessions.