NIFTY (-121, 25355)
Sensex (-346, 83190)
Bank Nifty (-258, 56956)

Nifty drifts lower as bullish sentiments face headwinds from lingering US tariffs.

Focus turns to TCS Q1and its press conference which is likely at 5:30 PM.

1) Momentum on the buy side was seen fading as bullish traders were awaiting US-India trade deal confirmation.

2) Additionally, Nifty bears got a boost on backdrop of a wave of tariff demand letters from President Trump, and most importantly, the latest threats on copper imports—fueling concerns over broader trade disruptions.

3) Meanwhile, US President Donald Trump announced a 50% tariff on Brazilian imports, effective August 1. In response, Brazilian President Lula da Silva vowed to retaliate under newly passed legislation authorizing proportional countermeasures.

4) Also, the minutes from the FOMC’s June meeting showed that the Fed officials were divided on the timing and extent of potential interest rate cuts.

5) Nifty now really needs some big trigger to jump towards Nifty’s all-high at 26277.35 mark.

Bottom-line: Caution prevails as Nifty bulls seen giving up hope on a favorable US-INDIA tariff deal.

TODAY’S MARKET RE-CAP:

1) Nifty ends the day on a negative footing as bullish traders seen unloading their long positions.

2) Bank Nifty too slips joining the conga-line of sliding theme at the broader markets. Bank Nifty’s new all-time-high continues to be at 57628.40 mark

3) India VIX tumbles further towards 11.65 levels.

4) The market breadth (13:37) was clearly in favor of bears.

5) The Nifty Mid-cap (-0.47%) and Nifty Small-cap (-0.31%) indices ended with minor cuts.

6) Among sectoral indices, maximum sluggishness was witnessed in Nifty PSU BANKS (-0.86%) followed by Nifty INFRA (-0.71%) and then NIFTY IT (-0.66%) indices but that said, buying was witnessed in Nifty REALITY (+0.73%) and Nifty METALS (+0.40%).

Bottom-line: Nifty witnesses an uninspiring session and the negative takeaway was that the benchmark ended on a jittery note.

STOCK ALERT:

1) Emcure Pharmaceuticals (+1.98%) advanced after the U.S. Food and Drug Administration (USFDA) conducted a pre-approval inspection (PAI) at its manufacturing facility (Oncology) located at G.I.D.C., Sanand, Ahmedabad, Gujarat.

2) HDFC AMC (+1.28%) and NAM India (+1.8%) on reports that the net inflow into equity mutual funds surged 24% to Rs 23,587 crore in June, reversing the declining trend of the last five months

BUZZING STOCKS FOR THE DAY:

🚀 Top Nifty Gainers

INDUSINDBNK (+1.56%)
MARUTI (+1.40%)
TATASTEEL (+1.03%)
BAJFINANCE (+0.66%)
JIOFIN (+0.61%)

📉 Top Nifty Losers

BHARTIARTL (-2.76%)
ASIANPAINT (-2.06%)
HDFCLIFE (-2.05%)
APOLLOHOSP (-1.55%)
SHRIRAMFIN (-1.37%)

Adv-Dec 11—39

INDIA VIX 11.67 (-2.26%)

NIFTY PCR (17th July) 0.70

NIFTY PCR (31st July) 1.17

USD/INR Futures (July) (-0.04%, 85.74)

OUR VIEW FOR FRIDAY’S TRADE

A bearish candle is being formed on the daily charts of Nifty and Bank Nifty’s daily charts after yesterday’s bearish spinning top candle indicating some element of downside risk in the near term.more gains on cards in the near term.

Technically, Aggressive upside targets continue to be at Nifty’s all-time-high at 26277.35 mark, but that said, confirmation of strength only above 25270 mark.

Meanwhile, the biggest interweek support for Nifty will be at 25000 (low as on June 24th).

The biggest make-or-break support for Friday’s trade is placed at 25277 mark.

ALL ABOUT NIFTY:
Nifty (CMP: 25355)
Support: 25221/25000
Resistance: 25501/25670
Range: 25267-25494
21 DMA: 25227
50 DMA: 24939
200 DMA: 24091
Trend: Neutral

BULLISH LOOKING STOCKS:

JIOFIN

AUBANK

NATIONALUM

BULLISH LOOKING STOCKS (LONG TERM):

ALIVUS

SUZLON

GULF OIL

BEARISH LOOKING STOCKS:

BHARTIARTL

HAL

PIIND

STOCKS TO AVOID:

TCS

DMART

L&T

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