HomeMarket NewsTrade Setup for July 17: Nifty aims to break above the 25,250 barrier on its weekly expiry
The short-term trend for the Nifty remains positive. A sustained move above 25,250 could take the index toward the next resistance at 25,550, analysts said.
By Meghna Sen July 16, 2025, 7:44:13 PM IST (Published)
After a subdued opening, the market slipped into further weakness early in the session. Some buying emerged from the day’s low around mid-session, helping the market recover slightly, although it still closed off the day’s highs.
The Nifty managed to hold above the 25,200 mark, supported by gains in banking stocks. The index dipped early to an intraday low of 25,121, but buying at lower levels triggered a smart recovery post 11 a.m., helping it close modestly in the green. The index ended the day up 16 points at 25,212.
Leading the gains were M&M, Wipro, and Tech Mahindra, which showed notable strength. On the other hand, Shriram Finance, Eicher Motors, and Sun Pharma were among the top losers.
The broader market, after two days of sharp gains, saw some consolidation. Both the Nifty Midcap 100 and Smallcap 100 indices ended flat, digesting their recent upward moves.
Among sectoral indices, PSU Banks, Media, and IT posted gains, while Metal, Healthcare, and Pharma closed in the red.
In a largely range-bound session, PSU banks stood out, with the Nifty PSU Bank index rising 1.8% on reports that the government may consider a fresh round of financial sector reforms.
SBI was among the top Nifty gainers amid reports it may launch a ₹25,000 crore Qualified Institutional Placement (QIP) as early as today. The issue is expected to be priced at a slight discount to the current market level.
Wipro and Tech Mahindra gained 2% each ahead of their earnings announcements.
Globally, key macroeconomic data due Thursday includes the Eurozone CPI, UK unemployment data, and US retail sales and jobless claims.
Back home, Q1 results scheduled for Thursday include Axis Bank, Wipro, Jio Financial, LTI Mindtree, HDFC AMC, and Indian Hotels, among others.
Tech Mahindra, which released its results post-market on Wednesday, will also remain in focus. The company reported a 1.4% decline in constant currency revenue for the April–June quarter.
Siddhartha Khemka of Motilal Oswal expects the market to consolidate with a positive bias, supported by improving rural and healthcare trends and any progress in India–US trade negotiations.
According to Nagaraj Shetti of HDFC Securities, the short-term trend for the Nifty remains positive. A sustained move above 25,250 could take the index toward the next resistance at 25,550, while immediate support is seen at 25,000.
Rupak De of LKP Securities said that Nifty continues to face resistance near 25,260. However, the index is holding above its 50-day moving average (50-DMA), signaling a positive short-term trend. As long as it closes above 25,000, the sentiment is likely to remain bullish, with a “buy on dips” strategy advisable. A breakout above 25,260 could set the stage for a rally toward 25,500 and beyond.
Nandish Shah of HDFC Securities echoed a similar view, saying the 50-DMA support near 25,000 remains intact. If this level holds, bulls are likely to stay in control. On the upside, 25,331 may act as immediate resistance.
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