Opening Bell 29 July 2025: Nifty Holds 24,600; Key Support at 24,550 Crucial for Bounce Back
By CapitalKeeper | Market Opening | Intraday Ideas | Market Moves That Matter
Indian markets open weak on 29 July 2025. Nifty trades near 24,600 with major support at 24,550; Bank Nifty near 55,800. Auto, Metal, Pharma sectors on watch.
🛎️ Opening Bell – 29 July 2025: Nifty & Bank Nifty Hover Near Support; Can Bulls Stage a Rebound?
By CapitalKeeper.in | Intraday Technical Analysis & Sector Outlook
Indian equity markets opened lower amid weak global cues and sustained FII selling pressure. Both Nifty 50 and Bank Nifty are hovering near crucial support zones, making today’s session important to watch for potential bounce-back opportunities.
📊 Market Opening Snapshot
| Index | Previous Close | Opening Price |
|---|---|---|
| Nifty 50 | 24,680.99 | 24,609.65 |
| Bank Nifty | 56,084.90 | 55,881.80 |
| Sensex | 80,891.02 | 80,620.25 |
| Fin Nifty | 26,615.20 | 26,515.15 |
🔍 Technical Outlook – Key Levels to Watch
📈 Nifty 50 (24,609.65)
- Resistance Zone: 24,800
- Support Zone: 24,550 (Major)
- 🔑 Holding 24,550 = possible bounce toward 24,750–24,800
- ⚠️ Break below 24,550 = next target 24,300–24,200
- Strategy: Buy only near 24,550 support with tight stop-loss
🏦 Bank Nifty (55,881.80)
- Resistance Zone: 56,500
- Support Zone: 55,800 (Immediate)
- 🔑 Failure to hold 55,800 = more downside toward 55,400–55,200
- Strategy: Sell on rise below 56,300; aggressive longs only above 56,500 breakout
💼 Fin Nifty (26,515.15)
- Resistance: 26,700
- Support: 26,400
- Bias sideways; close watch for breakout attempts above 26,700
🌍 Global Market Cues
- US Markets: Dow, S&P 500 closed marginally lower ahead of Fed policy outcome
- Asian Markets: Nikkei up 0.4%, Hang Seng weak due to China growth concerns
- SGX Nifty: Indicates negative bias, aligning with Indian market opening
- Brent Crude: Near $82.70, stable; neutral for OMC & energy stocks
- USD/INR: Steady at ₹83.49 – no major currency trigger
- FII/DII Data: FIIs continue net selling; domestic buying providing partial cushion
📊 Sectoral Watch – 29 July 2025
Focus on sectors likely to drive intraday moves:
| Sector | Bias | Commentary |
|---|---|---|
| Auto | 🔼 Positive | EV demand and monthly sales expectations favor Tata Motors, M&M |
| Metals | 🔻 Weak | Hindalco, Tata Steel face pressure on weak global commodity cues |
| Chemicals | ⚖️ Range | SRF, Deepak Nitrite mixed; export demand supportive |
| Pharma | 🔼 Positive | Cipla, Sun Pharma gaining on defensive buying |
| Banking/NBFC | 🔻 Cautious | Weakness in PSU banks; private banks trying to hold supports |
🚀 Intraday Stock Picks – 29 July 2025
| Stock | CMP | Strategy | Target Range | Stop Loss |
|---|---|---|---|---|
| Tata Motors | ₹687 | Buy near ₹685 | ₹695 – ₹705 | ₹675 |
| Cipla | ₹1,567 | Buy above ₹1,572 | ₹1,595 – ₹1,630 | ₹1,550 |
| Hindalco | ₹689 | Sell below ₹685 | ₹668 – ₹660 | ₹700 |
| Axis Bank | ₹1,074 | Sell below ₹1,065 | ₹1,050 – ₹1,040 | ₹1,090 |
| SRF Ltd. | ₹3,081 | Buy above ₹3,070 | ₹3,150 – ₹3,180 | ₹3,055 |
🧭 CapitalKeeper View
Markets are trading close to major support zones. A bounce-back is possible if supports hold, but sentiment remains weak and dominated by a sell-on-rise approach.
- Nifty: Watch 24,550 — critical level for bulls.
- Bank Nifty: 55,800 is make-or-break; upside capped at 56,500.
Pro Tip: “Trade light around crucial support zones; let price confirm direction before committing to big positions.”
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