Nifty Trade Setup: Thursday, July 24 was disappointing for the stock market. On the day of Weekly expiry, the Nifty was lightly open, but remained under the pressure of selling throughout the day and the important support level slipped below 25,150. Finally it closed at 25,062 with a decline of 157 points.
How will the mood of Nifty be on the last business day of the week i.e. Friday, July 25, which levels will be important, will understand it from experts. But, before that we know what happened in the market on Thursday.
IT shares pressure, PSU strengthened
There was tremendous pressure on IT shares. The Nifty IT index dropped more than 2%. Weak results of Coforge and Persistent Systems and uncertainty over India-US trade deal deepened the fall.
On the contrary, PSU banks were strengthened. Nifty PSU Bank Index rose 1.2% due to good Q1 results of Canara Bank and Indian Bank. Nifty Midcap 100 declined 0.6% and Smallcap 100 declined by 1.10%.
Historical decline in IEX
Indian Energy Exchange (IEX) shares saw a major decline of 30%, which is its biggest one -day loss ever. The decline declined after CERC’s approval from January 2026 to implement market coupling. Brokerage firm Bernstein has reduced its targets.
Which shares fall or climb
Eternal on nifty, Dr. Reddy’s and Tata Motors were top gainers, while Nestle India, Trent and Tech Mahindra declined the biggest. Nestle India falls 5%. Domestic volume growth of the Maggi manufacturer in the June quarter was just 3%. FII sold pure in cash market on Thursday, while DII shopped.
Technical Outlook: Which levels are important?
Siddharth Khemka of Motilal Oswal believes that the Indian market will remain in limited scope and the Q1 results will decide the direction of the stock and sector. Updates related to the Indo-Bitten Free Trade Agreement (FTA) and the Indo-US trade deal will also be seen.
Chandan Tapadia of Motilal Oswal said that the sentiment is weak due to frequent pressure and lack of follow-up shopping at the upper levels. If the index is above 25,000, it is possible to boom towards 25,250–25,350. Closing below 25,000 may decline by 24,900–24,800.
Look at the level of 24,900
Nagraj Shetty of HDFC Securities says that the trend remains weak and if 24,900 breaks, the Nifty can move up to 24,500.
Rajesh Bhosle of Angel One said that the Nifty has again shown a failure to stand above 25,250. 24,900 is now important support and 50-DMA will also break when it is closed below, which will increase weakness further.
According to the metaphor de of LKP Securities, the Nifty has once again broken 50-ma by slipping below the resistance of 25,250–25,260. Until it comes out above 25,260, the market can remain within a limited range. At the same time, the possibility of correction will increase after decisively broken below 24,900.
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