Global markets Sensex, Nifty based markets fell again on caution following weakness in Asian, European markets in global markets today despite signs of ceasefire after Israel weakened Hezbollah in Lebanon. As Vikram Samvat 2080 comes to an end, the market confidence started to shake as a result of the continuous selling and exit of foreign portfolio investors in the Indian stock market. Today, on the fourth day of the week, the maharathis with the funds again jumped in technology-IT and backing-finance stocks, leading to selling and the bullish trade in the stocks also softened the sentiment. The declining Indian stock market was seen.
On BSE, the midcap index closed down 0.34% and the smallcap index closed up 1.62%. As far as various sectoral indices are concerned, only industrial, capital goods, healthcare, utilities, power, commodity, metal and telecommunication stocks were seen to gain on BSE, while all other sectoral indices closed lower. Of the total 4026 scrips traded on BSE, decliners were 1264 and advancers 2652, while 110 scrips were unchanged. While in 128 stocks there was a bearish lower circuit of only sellers against a bullish upper circuit of only buyers in 475 stocks.
Larsen Lee in S&P BSE Sensex. 6.38%, Powergrid Corporation 0.86%, JSW 0.76%, Mahindra & Mahindra 0.71% and HDFC Bank rose 0.01%, while Tech Mahindra 4.54%, HCL Technology 3.89%, TCS Ltd. 2.80%, Infosys Ltd. 2.48%, Asian Paint 1.97%, Maruti Suzuki 1.59%, ICICI Bank 1.57%, Adani Port 1.45%, Bharti Airtel 1.34%, Axis Bank 1.20%, Titan Company Ltd. 1.16%, Hindustan Unilever shed 1.07%, Bajaj Finance 1.00% and Reliance Industries shed 0.84%.
Nifty Future Technical Levels…
⦁ Nifty Future Close :- ( 24388 ) :- The next move is likely to see Nifty Future touch the all-important level of 24330 points to 24272 points, 24202 points with respect to the first of 24606 points and the all-important strong stoploss of 24676 points. Positioning cautiously around 24606 points…!!
Bank Nifty Future Technical Level… ⦁ Bank Nifty Future Close :- ( 51954 ) :- The next move is likely to see the Bank Nifty Future touch the all-important level of 51676 points first and 51606 points from 52188 points to 52303 points, the all-important level of 51606 points. Positioning cautiously around 52373 points…!!
Specific Technical Level Regarding Future Stock ⦁ Kotak Mahindra Bank (1748) :- The share price of this leading company of Kotak Mahindra Group is currently trading around Rs.1727. Buyable at a stoploss of Rs.1707, this stock is likely to register a price of Rs.1763 to Rs.1776 in a short period of time…!! Bullish focus above Rs.1790…!! ⦁ SBI Life (1631) :- Positive breakout around Rs.1606 as per technical chart…!! Buyable with support of Rs.1590, this stock is likely to touch Rs.1653 to Rs.1660…!! ⦁ Infosys Ltd. (1771) :- According to the technical chart, this stock from the Computers – Software & Consulting sector has the possibility of a profitable sell around Rs.1790 with a target price of Rs.1755 to Rs.1740. Consider a trading stoploss of Rs.1808..!!
⦁ Glenmark Pharma (1701) :- This stock is sellable with a stoploss of Rs.1747 registering an overbought position around Rs.1734..!! It is likely to show the price of Rs.1686 to Rs.1670 in phases…!! Consider bullish above Rs.1750…!!
Future direction of the market…. Friends, FII outflows against the country's stock markets, geopolitical tensions, soft corporate income, inflation and financials of companies in other sectors except banks, IT are showing weak results for the second quarter of 2025, the impact of which can be seen in the coming time, as well as Israel and Iran. If the conflict between them turns dark, it will also have an adverse impact on Indian equities in Samvat 2081. As we now enter Samvat 2081, the economic recovery seen in China is believed to be the main reason for the massive outflows of FIIs from India, with over Rs. Foreign investor outflows may be higher in 2081 if the Chinese government's recently announced stimulus improves its economy.
The author is a SEBI Registered Research Analyst and Proprietor of Investment Point.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
