July 1, 2025: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Tuesday, tracking mixed global market cues.
The trends on Gift Nifty also indicate a flattish start for the Indian benchmark index. The Gift Nifty was trading around 25,630 level, a premium of nearly 15 points from the Nifty futures’ previous close.
Profit booking caused the benchmark indices of the domestic equity market to end its four-day gain on Monday and close lower. The Sensex dropped 452.44 points, or 0.54%, to close at 83,606.46, while the Nifty 50 settled 120.75 points, 0.47%, lower at 25,517.05.
Today's Sensex, Nifty 50, and Bank Nifty projections are as follows: Sensex formed a bearish candle on daily charts, indicating temporary weakness.
“The short-term market outlook remains positive. We believe that 83,500 will act as a key level to watch. Below 83,500, we could see a further correction towards 83,200 - 83,000. On the flip side, a sustained move above 83,500 could push Sensex up to 83,900. Further upside may also continue, potentially lifting the index to 84,200,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Nifty 50 declined 120.75 points, and formed a bearish engulfing pattern on the daily chart.
“The overall setup remains encouraging as the Nifty 50 comfortably holds above the 9-day and 20-day exponential moving averages (EMAs), both of which continue to slope upward, highlighting the strength of the current trend. The index witnessed a mild pullback from the upper resistance zone near 25,660 – 25,685, aligning with the 161.8% Fibonacci retracement. The daily RSI for Nifty 50 has eased slightly to 63, remaining in a healthy zone, which suggests that momentum remains intact without any signs of exhaustion,” said Om Mehra, Technical Research Analyst, SAMCO Securities.
He says that the support is now between 25,350 and 25,300, a level that used to be a breakout area but is now a re-entry level for new accumulation. He believes that any short-term pullback may present a buying opportunity unless this level is decisively breached. “As we enter the July series, the outlook remains positive due to the intact higher-high formations and the absence of major breakdown signs. A sustained move above 25,700 could reignite bullish momentum, with the next upside levels up to 25,900 - 25,970,” Mehra said.
Dr. Praveen Dwarakanath, Vice President of Hedged.in, noted that the Nifty 50 has closed below the upper Bollinger band indicating a pause in the rally at the current levels.
“The pause can likely be the profit booking after a breakout from the 25,200 levels. The index closing above day’s low is a clear sign of a further rally. The ADX DI+ line is sloping downside and the ADX DI- line sloping upside, indicating signs of weakness in the index, in yesterday’s fall. Dwarakanath stated, "The momentum indicators are in the overbought region, which could also be the reason for the fall." According to VLA Ambala, Co-Founder of Stock Market Today, the Nifty 50 index formed a bearish engulfing pattern on the daily chart, while its RSI at 62.
“This movement suggests moderate buying opportunities on dips. However, it is best to avoid selling on rises until we reach a fresh high, as the major trend remains bullish, and Nifty 50 is just 3% away from its all-time high. I recommend adopting neutral trading strategies in index derivatives for a couple of days. We can expect Nifty 50 to find support between 25,300 and 25,200, and meet resistance near 25,650 and 25,870 in today’s trading session,” Ambala said.
Bank Nifty Prediction:
Bank Nifty index ended 131.15 points, or 0.23%, lower at 57,312.75, forming a narrow-bodied bearish candle on the daily chart, reflecting mild profit booking at elevated levels.
“Despite the minor pullback, the Bank Nifty index maintained a higher high–higher low formation, suggesting a phase of time-wise consolidation amidst stock-specific traction. The index is currently perched above its immediate support zone of 57,000 – 56,800. Sustaining above this demand zone will keep the short-term bias constructive, paving the way for a potential move towards 58,500 — a level derived from the measured move projection of the recent consolidation band between 56,000 and 53,500,” said Bajaj Broking Market.
Conversely, a breach below 56,800 may trigger a corrective consolidation of the recent upswing, with the index likely oscillating within a broader consolidation zone of 56,000 – 57,600, said the brokerage firm.
“Structural support is recalibrated to the 56,000 – 55,800 region, representing a confluence of key technical indicators — including the 50-day EMA and the 61.8% Fibonacci retracement of the recent rally (55,149 - 57,614),” Bajaj Broking Market added.