- Nifty 50 ended on a positive note, closing at 24,317.15, up 66.95 points (+0.28%), after a range-bound yet constructive trading session.
- Gift Nifty trading around 24,420, up by 57 points, indicates firm opening cues for July 31, 2026.
- With positive Gift Nifty indications and supportive global cues, the domestic market is likely to begin the session on a firm footing.
- Technically, the formation of a fifth consecutive bullish candlestick reflects sustained buying interest, while the RSI improved to 57.66, indicating strengthening momentum.
- From a technical perspective, 24,200–24,250 is expected to act as the immediate support zone, while 24,500–24,550 remains the key resistance area.
- Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI.
- For HDFC Bank, the intraday rally is expected; go long with a stop-loss at 740.
- For Infosys, go long as the stock is near support; stop-loss can be 1130.
- For ITC, the stock is trading in a range; refrain from fresh positions.
- For ONGC, the stock is trading near resistance; sell with stop-loss at 245.
- For Reliance Ind., buy the stock if it surpasses 1296; place stop-loss at 1275.
- For SBI, the stock might see an uptick; buy with a stop-loss at 1000.
- For TCS, the stock could see a rebound; buy with stop-loss at 2380.
- For Nifty 50 Futures, price action suggests a rally; go long with stop-loss at 24225.
Indian equity markets are poised for a positive opening as Gift Nifty trades at 24,420, up 57 points. The Nifty 50 closed at 24,317.15 on July 30, marking a gain of 66.95 points (+0.28%). This follows a range-bound yet constructive trading session.1
The market's bullish sentiment is supported by the formation of a fifth consecutive bullish candlestick, indicating sustained buying interest. The Relative Strength Index (RSI) has improved to 57.66, suggesting strengthening momentum.4
From a technical standpoint, the immediate support zone is expected to be between 24,200 and 24,250, while the key resistance area lies between 24,500 and 24,550. With positive indications from Gift Nifty and supportive global cues, the domestic market is likely to begin the session on a firm footing.
Day Trading Guide highlights key intraday supports and resistances for widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, and SBI. The mentioned resistances and supports will serve as exit levels for traders.678
Overall, the market sentiment remains optimistic as traders look for opportunities in the current bullish environment.
“The formation of a fifth consecutive bullish candlestick reflects sustained buying interest, with the RSI improving to 57.66, indicating strengthening momentum. Immediate support is expected between 24,200–24,250, while key resistance remains at 24,500–24,550, guiding traders' strategies for the day.”
