Market Outlook for Tomorrow

The NIFTY 50 closed lower by 37.95 points (-0.14%) at 26,140.75, as gains in IT names were outweighed by pressure in banking, FMCG, auto, and pharma stocks. TITAN (+3.94%), HCLTECH (+2.36%), WIPRO (+1.79%), TECHM (+1.76%), and INFY (+1.72%) led the gainers. CIPLA (-4.28%) saw a sharp decline, followed by MARUTI (-2.81%), HINDUNILVR (-1.43%), TATASTEEL (-1.42%), and ASIANPAINT (-1.40%). Other decliners included HDFCBANK (-1.24%), SBIN (-1.18%), ONGC (-1.11%), and POWERGRID (-1.60%). Market breadth was weak, with 20 advances against 30 declines.

The NIFTY 50 opened at 26,143.10, touched a low of 26,067.90, hit a high of 26,187.15, and closed at 26,140.75, down 37.95 points (-0.14%). The market closed lower for a third straight session as earnings caution, FII selling, and trade uncertainty weighed on banking and auto stocks. Technically, the market witnessed support at the 20D EMA and bounced back to close near the day’s open. The doji candle is likely indicative of indecision amongst market participants ahead of the earnings season. The RSI slipped to 55, indicating moderating bullish momentum. Near-term support levels are at 25,991/25,897, and resistance levels are at 26,296/26,391.

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Nifty Slips for the Third Consecutive Session

Bank Nifty Commentary for Tomorrow

The NIFTY BANK closed lower by 127.55 points (-0.21%) at 59,990.85, as gains in select PSU and private lenders were offset by weakness in heavyweight stocks, notably HDFCBANK (-1.24%), SBIN (-1.18%), and INDUSINDBK (-1.72%). Among gainers, YESBANK (+2.85%), BANKBARODA (+1.08%), ICICIBANK (+1.02%), FEDERALBNK (+0.72%), and UNIONBANK (+0.22%) led the advance. Selling pressure was seen in INDUSINDBK (-1.72%), HDFCBANK (-1.24%), SBIN (-1.18%), CANBK (-0.64%), and IDFCFIRSTB (-0.63%). Market breadth was slightly negative, with 6 advances against 8 declines.

The NIFTY BANK opened at 60,039.70, touched a low of 59,760.65, hit a high of 60,065.40, and closed at 59,990.85, down 127.55 points (-0.21%). Despite the index closing lower, the RSI remains above 60, signalling bullish momentum. Also, the index witnessed buying support at lower levels and ended the day closer to the day's high. Near-term support levels are at 59,590/59,342, and resistance levels are at 60,392/60,640.

Quick Comment on FINNIFTY And SENSEX

The NIFTY FINANCIAL SERVICES closed at 27,853.35, down 91.75 points (-0.33%), as broad-based selling across lenders and NBFCs capped intraday recovery attempts. Heavyweight pressure from HDFCBANK (-1.24%), SBIN (-1.18%), BAJFINANCE (-0.78%), and BAJAJFINSV (-0.67%) kept the index under strain. Select names, including JIOFIN (+1.73%), BSE (+1.45%), and RECLTD (+0.56%), provided limited support. The downside was led by ICICIGI (-2.13%) and SBICARD (-2.01%), followed by CHOLAFIN (-1.12%), SHRIRAMFIN (-0.66%), and HDFCLIFE (-0.53%). Market breadth stayed weak, with 7 advances against 13 declines. Near-term support levels are at 27,644/27,514, and resistance levels are at 28,063/28,193.

The BSE SENSEX closed marginally lower by 102.20 points (-0.12%) at 84,961.14, as gains in IT and select consumption stocks were offset by selling pressure in banking, FMCG, and auto names. TITAN (+3.94%), HCLTECH (+1.99%), TECHM (+1.80%), INFY (+1.72%), SUNPHARMA (+1.27%), and TCS (+1.23%) supported the index. Other gainers included ICICIBANK (+1.07%), ETERNAL (+0.79%), LT (+0.64%), BEL (+0.63%), and TRENT (+0.30%). On the downside, MARUTI (-2.78%), POWERGRID (-1.66%), ASIANPAINT (-1.34%), TATASTEEL (-1.32%), and HDFCBANK (-1.38%) dragged the index lower. Market breadth was negative, with 12 advances against 18 declines. Near-term support levels are at 84,607/84,401, and resistance levels are at 85,274/85,480.

Intraday levels for NIFTY, BANK NIFTY, SENSEX and FINNIFTY Levels: