Global & GIFT Nifty
- GIFT Nifty is currently up +40 points (~0.16%), suggesting a positive opening bias as markets anticipate easing tariff concerns and progress in global trade conversations
- Global sentiment remains cautiously optimistic with Asian markets firm and European indices climbing ahead of key US macro releases tonight.
📈 Cash Market – FII & DII Flows (23 July)
| Investor | Bought (₹ Cr) | Sold (₹ Cr) | Net (₹ Cr) |
|---|---|---|---|
| FII | 14,475.5 | 18,684.6 | –4,209 |
| DII | 15,146.4 | 10,787.9 | +4,358 |
- Foreign investors were net sellers in the cash segment, retracting nearly ₹4,210 crore.
- Domestic institutions stepped in aggressively, contributing ~₹4,358 crore — helping cushion the market
🔁 FII Positioning in Index Futures
- Long contracts added: 12,667
- Short contracts added: 8,770
- Net change: +3,897 net long positions by FIIs in index futures
Ensuing data shows full FII futures open interest at ~209,900 contracts, reflecting a cautious bullish tilt
📊 July Derivatives (Nifty Options)
- Call OI peaks: 26,000 followed by 25,000 — these form potential resistance zones
- Put OI peaks: Concentrated at 25,000 and 24,500 — expected support range
- PCR levels: Around 0.84 for Nifty and ~0.81 for Bank Nifty — showing slight bearish positioning
🧭 Technical Levels
| Index | Support Range | Resistance Range |
|---|---|---|
| Nifty | 25,000 – 25,100 | 25,300 – 25,500 |
| Bank Nifty | 56,000 | 57,000 – 57,200 |
- Range-bound bias expected within these zones unless disrupted by catalysts.
🗞 Market Headlines & Updates
- Global Trade: Optimism around easing tariffs and renewed trade momentum lifted sentiment
- Currency: Rupee remains stable.
- Monsoon: Slight improvement in northern regions, aiding sectors like rural consumption.
🏦 Indian Q1 Earnings Today
- Kotak Mahindra Bank — tracking credit growth, net margins, asset quality
- IndusInd Bank — loan growth and provisioning to watch closely
- L&T Technology Services — commentary on order wins & tech demand
- AU Small Finance Bank — performance in retail lending
🌍 US Market Trigger Tonight
Key US data to be released this evening (IST timings):
- Existing Home Sales — to gauge consumer housing demand
- S&P Global Flash PMIs — manufacturing and services sentiment
- Initial Jobless Claims — crucial for labor market outlook
- Fed Commentary — any remarks could influence policy expectations
Impacts: Any surprise in US data may steer global sentiment, further shaping Indian market action.
📌 Summary & Strategy
| Key Insight | Bias & Strategy |
|---|---|
| Global Open | Slightly positive; trade-friendly tone |
| Cash Flows | FII out, DII in — mixed signals |
| Futures Positioning | FII added net longs — cautious optimism |
| Options OI Structure | Range focus: 25,000–25,500 (Nifty), 56,000–57,200 (Bank Nifty) |
| Earnings Watchlist | Banks and tech earnings to steer intraday moves |
| US Data Night | Could trigger volatility |
🎯 Trade Plan
- Buy near 25,100 on dips, targeting 25,300–25,500 with SL below 25,000
- Aggressive shorts near 25,500 if global cues sour post-US data
- Banks to track: Kotak, IndusInd — results highly impactful
- Sector focus: Tech (L&T Tech); financials (AU SFB)
Summary: A cautiously optimistic market setup — supported by domestic buying, tempered by FII futures positioning, and awaiting fresh cues from Q1 earnings and US data releases.