Indian stock market indices, the Nifty 50 and the Sensex, are expected to start Thursday, July 17, 2025, with a flat to positive bias, mirroring mixed signals from global markets.

Global Market Cues

• Gift Nifty: Trends on Gift Nifty suggest a slightly positive opening for the Indian benchmark index, trading around 25,275, a premium of approximately 30 points from the previous close of Nifty futures.
• European Markets: Most European indices closed in the green, with the DAX rising by 0.31% and the FTSE 100 gaining 0.13%, providing supportive cues for the domestic market.
• US Futures: Sentiment from U.S. futures is mixed. Dow Jones futures are marginally up by 0.07%, while Nasdaq and S&P 500 futures are trading lower by 0.25% and 0.07% respectively, indicating caution among global investors.

Recap of Previous Day's Market Performance

On Wednesday, July 16, 2025, the Indian domestic equity market ended with a flat but positive bias. The Nifty 50 closed above the 25,200 level.

• The Sensex gained 63.57 points, or 0.08%, to close at 82,634.48.
• The Nifty 50 settled 16.25 points, or 0.06%, higher at 25,212.05.
• Approximately 2,234 shares advanced, 1,658 declined, and 150 remained unchanged.

Key Levels to Watch

• Sensex: Shrikant Chouhan, Head of Equity Research at Kotak Securities, believes 82,300 will serve as a crucial support zone for traders. A continued bullish sentiment is expected as long as the Sensex remains above this level. Potential upside targets include a bounce back to the 20-day SMA (Simple Moving Average) or 83,000, with a further push towards 83,600 possible. Conversely, a drop below 82,300 could shift the sentiment, potentially leading to a decline towards the 50-day SMA or the 82,000-81,800 range.
• Nifty 50: Nifty's near term support and resistance levels are at 25055/24957 and 25370/25467.
• Bank Nifty: Immediate support for Bank Nifty lies at 57,000, according to analyst Vipin Dixena. A break below this level may trigger a short-term correction towards 56,000. Key short-term support is positioned in the 56,000–55,500 region, coinciding with the 50-day EMA and a key retracement level.

Nifty Open Interest (OI) Data

• The highest call writing is observed at the 25,300 and 25,400 strike prices, while the maximum put OI is concentrated at the 25,200 level.
• This positioning indicates strong resistance near the 25,500 zone. However, the overall market sentiment is cautiously optimistic, and a decisive close above this resistance could sustain the bullish momentum in the near term.
• The Nifty PCR for today's expiry is 0.80, indicating a bearish to sell bias.

FII and DII Activity

• Foreign investors (FIIs) have withdrawn ₹11,777 crore in July so far.
• Domestic institutional investors (DIIs) have provided strong support with net inflows of ₹15,746 crore during the same period, potentially cushioning any downside pressure in the near term.

IPO Market

• Seven companies are preparing to launch IPOs worth approximately ₹10,000 crore before the end of July.
• These IPOs span various sectors, including electronics, real estate, financial services, and hospitality.

HDFC Bank

• HDFC Bank is considering a bonus share issue and a special interim dividend for FY26, with a board meeting scheduled for July 19.

Overall Market Sentiment

The market exhibits indecisiveness between bulls and bears, as reflected by the small candle formed on the daily charts and range-bound intraday activity. Positive sentiment is expected to continue as long as the market stays above key support levels.