Pre Market 24 July 2025: Nifty Consolidates; IEX, PNB, Bikaji Breakout Radar
By CapitalKeeper | Pre Market Opening | Indian Equities | Market Moves That Matter
📊 PRE MARKET REPORT – 24th July 2025 (Thursday)
By CapitalKeeper.in | Early Morning Technical, Sectoral & Sentiment Analysis with Breakout Radar
Indian market pre-opening outlook for 24 July 2025: Nifty near 25,220; PSU banks, power, and FMCG stocks lead. IEX, PNB, Bikaji breakout trades; Gift Nifty flat amid mixed global cues.
Previous Day Close – 23rd July 2025
| Index | Closing Level |
|---|---|
| Nifty 50 | 25,219.99 |
| Bank Nifty | 57,210.45 |
| Sensex | 82,726.64 |
| Fin Nifty | 27,215.85 |
Global Cues & GIFT Nifty
- GIFT Nifty indicates a flat to slightly positive opening around 25,240–25,260, suggesting consolidation near resistance.
- US Markets closed higher – Dow and S&P at fresh records on Fed rate cut hopes.
- Asian Markets mixed: Nikkei trades marginally higher, Hang Seng under pressure due to Chinese tech weakness.
- Crude Oil steady near $82; Dollar Index remains near 104.
- India VIX continues below 12 – indicating low volatility and steady sentiment.
Sectoral Outlook – 24th July 2025
Bullish Sectors
- Power & Energy: Positive momentum in IEX and NTPC
- PSU Banks: PNB, Canara Bank in focus
- Metals & Auto: Tata Motors, NMDC show resilience
- Capital Goods & FMCG: Bikaji and Havells gaining traction
Neutral / Watchlist
- IT: Range-bound, awaiting fresh triggers
- Financial Services: Mixed trend, accumulation on dips advised
Technical Levels – Nifty & Bank Nifty
Nifty 50 (Close: 25,219.99)
- Support: 25,080 / 24,980
- Resistance: 25,300 / 25,450
- A breakout above 25,300 could lead to 25,500+, while below 25,080 weakness may resume.
Bank Nifty (Close: 57,210.45)
- Support: 56,950 / 56,600
- Resistance: 57,400 / 57,700
- Above 57,400, expect a rally towards 57,900+.
Top Stock Picks – 24th July 2025
1. IEX (CMP ₹187.50) – Cash Pick
- Buy at CMP & add near ₹182
- Target: ₹210 – ₹240
- Stop Loss: ₹175
- Power trading volume growth expected; bullish structure on daily chart.
2. PNB (CMP ₹110) – F&O Strategy
- Buy August 120 CE @ ₹1.30
- Stop Loss: ₹0.80
- Target: ₹2.5 – ₹3.5
- PSU banks remain in focus; option attractive for low-risk positional trade.
3. Tata Motors (CMP ₹690) – Contrarian Put Buy
- Buy 680 PE @ ₹6
- Stop Loss: ₹3
- Target: ₹8 – ₹10
- Risky trade; only for aggressive traders expecting short-term pullback.
Stocks on Radar (Short-Term Breakouts)
PNB Gilts (CMP ₹106)
- Trendline breakout with volume confirmation.
- Support: ₹100 | Resistance: ₹115.
- Positive MACD, good for swing traders.
Bikaji Foods (CMP ₹788)
- Resistance breakout with strong volumes.
- MACD bullish on daily and weekly charts.
- Target: ₹820 / ₹850 in near term.
Market Sentiment
- FII Index Long Positions: Stable near 28–30%.
- India VIX: Below 12, indicating controlled volatility.
- Strategy: Use dips to accumulate PSU Banks, Power, and Auto stocks; trade cautiously in derivatives due to low premiums.
Key Levels to Watch Today
- Nifty: 25,080 (support) & 25,300 (resistance)
- Bank Nifty: 56,950 (support) & 57,400 (resistance)
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