Pharma, Healthcare, and Infra indices outperformed, each rallying over 1 percent.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, July 29, 2025: Today, the benchmark indices bounced back sharply. The Nifty ends 140 points higher, while the Sensex was up by 447 points. Among sectors, almost all the major sectoral indices traded in positive territory, with Pharma, Healthcare, and Infra indices outperforming, each rallying over 1 percent.
Technically, after a muted open, the market took support near 24,600/80,600 and rebounded sharply. From the day's lowest point, the market rallied over 240/850 points. An intraday reversal formation after a long correction, coupled with a bullish candle on the daily charts, indicates a further uptrend from the current levels.
We are of the view that 24,700/81,000 and 24,650/80,900 will act as key support zones for day traders. As long as the market trades above these levels, the pullback formation is likely to continue. On the higher side, 25,000–25,075/82,000–82,200 would be the key resistance zones for the bulls. For day traders, buying on intraday dips and selling on rallies would be the ideal strategy. However, if the market falls below 24,650/80,900, sentiment could change. Below these levels, traders may prefer to exit their long positions.
Gaurav Garg, Lemonn Markets Desk, adds: “Indian equities rebounded sharply on Tuesday, breaking a three-day losing streak as value buying and easing volatility lifted sentiment. The Sensex rose 447 points to close at 81,338, while the Nifty reclaimed the 24,800 mark, ending at 24,821. Gains were led by Jio Financial, L&T, Asian Paints, Bharti Airtel, and Apollo Hospitals, which climbed up to 4%.
Key drivers of the recovery:
● Value buying in IT, metals, and realty after a steep correction; Nifty Realty index rose nearly 2%.
● Easing volatility, with India VIX down 2.9% to 11.71, indicating improving investor confidence.
● Supportive global cues, with Asian markets in the green and Wall Street futures pointing to gains.
Technical outlook indicates signs of selling exhaustion. While 24,750–24,650 is emerging as a strong support zone, resistance lies at 24,922–25,050. Unless the index breaches 24,450 on the downside, analysts expect a near-term upward reversal."
