🔹 Nifty Technical Outlook
Markets are likely to open on a firm note today. Based on chart patterns and derivative cues:
- Immediate Support Levels: 25,416 · 25,370 · 25,333
- Immediate Resistance Levels: 25,498 · 25,535 · 25,581
- Pivot Level (Spot Nifty): 25,453
The trend remains bullish above 25,416, while a sustained break below 25,370 could trigger profit booking.
🔹 FIIs & DIIs Activity (July 7)
- Foreign Institutional Investors (FIIs): Net buyers in the cash market with inflows of approximately ₹321 crore.
- Domestic Institutional Investors (DIIs): Strong buying continued with net purchases around ₹1,853 crore.
This indicates healthy institutional participation on both fronts, suggesting strong underlying sentiment.
🔹 FII Derivatives Position (Index Futures)
- FIIs are maintaining a bullish bias in index futures.
- Long contracts: ~11,073
- Short contracts: ~2,132
- Total Open Interest (OI): ~158,879 contracts
This skew toward long contracts reflects positive expectations for the near term.
🔹 GIFT Nifty (Earlier SGX Nifty)
- GIFT Nifty is trading around 25,500 in early trade, indicating a possible gap-up or positive start for Nifty 50.
- OI in July futures contracts remains high, suggesting strong participation in the ongoing trend.
🔹 July Options Data – OI Trends
- Call Writing observed at 25,500–25,600 strikes, indicating a possible cap in the short term.
- Put Writing seen at 25,400–25,000 levels, showing solid support at lower levels.
- Put-Call Ratio (PCR) is holding near neutral to bullish range (~1.0–1.1), suggesting the bulls are still in control.
🔹 Global Market Snapshot & News
- Asian markets are showing mixed cues amid cautious global sentiment.
- Crude oil prices are slightly weaker as OPEC+ is set to increase production from August.
- Investors remain watchful over new U.S. tariff implementations starting August 1.
- No major global risk-off signs currently, but trade policy uncertainty continues to linger.
🔹 US Economic Events Tonight
- No major macroeconomic releases scheduled for today in the U.S.
- Key event this week: FOMC Meeting Minutes release on July 9, which could guide expectations for the next rate decision.
- U.S. bond auction tonight may attract attention for interest rate clues.
✅ Final Take: Market Strategy
- Nifty’s outlook remains constructive, with buy-on-dips likely to continue unless 25,370 is decisively breached.
- FIIs are gradually adding long exposure while DIIs are aggressively buying in cash.
- GIFT Nifty signals strength, and option data supports 25,400 as a solid base.
Traders should watch for price action near 25,535 and 25,581 as breakout zones. Caution is advised near upper resistance levels due to potential profit-booking pressure