Chandigarh, July 25
The Indian stock market is likely to open lower on Thursday, July 25, with trends on Gift Nifty indicating a gap-down start. According to The MINT, Gift Nifty was trading around the 24,290 level, nearly 230 points below the Nifty futures’ previous close.
On Wednesday, the domestic equity benchmark indices ended lower for the fourth consecutive session. The Sensex fell 280.16 points to close at 80,148.88, while the Nifty 50 settled 65.55 points, or 0.27%, lower at 24,413.50. The Nifty 50 formed a small negative candle on the daily chart, reflecting market volatility.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, highlighted that the short-term trend of Nifty remains weak with immediate support around 24,270 – 24,100 levels. On the call side, the highest Open Interest (OI) is observed at 24,600, while on the put side, the highest OI is at 24,300. A move above 24,580 could confirm a near-term bottom reversal pattern.
Bank Nifty Prediction
The Bank Nifty index declined by 461.30 points, or 0.89%, to close at 51,317.00 on Wednesday. According to analysts, the sentiment may remain weak unless the index closes above 52,000, with support placed at 50,900 and resistance at 51,550 and 52,000
