Indian Market Pre-Market Report
Date: Friday, 18th July 2025
Market Sentiment: Cautiously Positive
🌐 Global & Domestic Cues
- GIFT Nifty indicates a mildly positive opening, with gains of around 0.25%, suggesting bullish undercurrents despite recent volatility.
- US markets closed in the green yesterday, supported by strong retail sales and falling jobless claims, easing fears around Fed policy tightening.
- Asian markets opened mixed, as traders await weekend triggers and digest earnings across global tech and banking sectors.
📊 Nifty Technical Levels
- Immediate Support: 25,000
- Next Support: 24,900
- Resistance Levels: 25,250 and 25,500
Technical Outlook: The index needs to hold above 25,000 to avoid a deeper pullback. A breakout above 25,250 could lead to further upside toward the 25,500 zone.
💼 Institutional Activity (17 July 2025)
| Participant | Net Activity (₹ Crore) |
|---|---|
| FIIs | –3,694 (Net Sellers) |
| DIIs | +2,820 (Net Buyers) |
- Foreign investors continued heavy selling, extending their risk-off approach.
- Domestic institutions remain supportive and have been absorbing FII selling in key sectors.
📈 FII Index Futures Positioning
- FII Contracts Bought: ~10,000
- Contracts Sold: ~20,000
- Net Stance: Short Bias
FIIs are continuing to build short positions in index futures, reflecting a cautious outlook on near-term market direction.
📉 Derivatives Overview – July Series
- Put-Call Ratio (PCR): ~0.75 (Nifty), ~0.85 (Bank Nifty)
- Max Pain (Nifty): ~25,200–25,250
- Max Call OI: 25,500
- Max Put OI: 25,000
Implication: Markets may remain range-bound with 25,000 acting as a key support zone and 25,500 acting as resistance into expiry week.
🗞 Key Market News & Earnings
🔹 Major Q1 FY26 Results (Reported Yesterday):
- Wipro: Strong results with an 11% YoY rise in net profit and marginal revenue growth. Interim dividend declared.
- LTIMindtree: Reported 11% YoY increase in profit; margin pressure was minimal.
- Axis Bank: Missed street estimates on profit; rising provisions and asset quality moderation were noted.
- Jio Financial & HDFC AMC: Posted steady results; margins and operating income showed resilience.
- Indian Hotels: Reported robust earnings with revenue up 32% YoY and profit up 19%, driven by strong travel demand.
🔹 Stocks in Focus Today:
- Axis Bank, Wipro, LTIMindtree, Jio Financial, Indian Hotels, Tech Mahindra, Angel One.
🌍 Global Economic Events Tonight (U.S.)
- Initial Jobless Claims: Dropped to 221,000, indicating strength in the labor market.
- Import/Export Price Index: Scheduled for release tonight, expected to provide insight into inflationary trends in trade.
- No major Fed speeches are lined up, but recent data has strengthened the “soft landing” narrative.
📌 Summary & Market Outlook
| Factor | Insight |
|---|---|
| Global Sentiment | Supportive, thanks to strong US data |
| Institutional Flows | FIIs selling, DIIs absorbing |
| Technical Setup | Nifty in 25,000–25,500 range |
| Derivatives Structure | OI data suggests range-bound behavior |
| Corporate Earnings | Mixed, with strength in IT and hospitality |
| US Economic Data | Positive job data, key price indices ahead |
✅ Trading Strategy
- Positional Bias: Buy-on-dips near 25,000, cautious near 25,500
- Intraday Outlook: Flat-to-positive bias; watch for moves above 25,250 for momentum
- High-Impact Stocks: Axis Bank, Wipro, Indian Hotels, LTIMindtree
- Sector Watch: IT (post-results), BFSI, and Hotels/Travel
Stay alert for intraday volatility ahead of the weekend and keep an eye on US data releases tonight.