Nifty trade setup: Last week’s last trading day i.e. Friday, July 18, there was a major decline. There was a continuous selling pressure on the index. It slipped and reached close to 24,900, where he got initial support. The Nifty closed at 24,968 on Friday, 143 points, or 0.57% declined. This was the third consecutive week when the Nifty declined. The index 0.72% broken on a weekly basis.
On Monday, July 21, how will the Nifty move, which levels will be important for this, you will understand it from experts. But, before that we know what happened in the market on Friday.
Which stocks boom, decline in which
Strong performing stocks included Wipro, Bajaj Finance and Tata Steel. He showed better strength than the market. On the other hand, Axis Bank, Shriram Finance and BEL were among the weakest stocks.
Midcap and smallcap also decline
Boddar markets also saw weakness. Midcap and smallcap shares dominated profits. Nifty Midcap 100 declined 0.70% and Nifty Smallcap 100 declined by 0.82%.
In the sectors, media, metal and IT index were locked in green mark. At the same time, there was a sharp decline in private banks, consumer durables and financial services.
Both FII and DII shown shopping
On Friday, both domestic and foreign institutional investors made pure purchases in the cash segment. Despite this, the market got partial support. FII bought shares worth Rs 375 crore and DII Rs 2,103 crore.
Now look at the quarterly results of companies
Now the market will be eyeing the upcoming quarterly results. The results of Reliance Industries, HDFC Bank and ICICI Bank have been released after the market closure on Friday. The effect of their results can be seen in early trading. After this, the results of major companies like Infosys, Dr Reddy’s, Bajaj Finance, Nestle India and Cipla are also coming.
Expert View: Which level is important for Nifty
According to Nagraj Shetty of HDFC Securities, the existing move of Nifty remains weak. The negative candle on Friday indicates that the decline may intensify when a breakdown below 24,900 and it can go up to 24,500. At the same time, strong resistance will be seen at 25,250 upwards.
At the same time, the metaphor of LKP Securities says that the Nifty is above 50-Day EMA. However, the trend will remain ‘SAIL on Rise’ at the moment, until it goes above 25,260.
Next support for Nifty at 24,742
Nandish Shah of HDFC Securities said that Nifty has broken his previous swing and has closed under 50-Day SMA. This is the first time since April 11, 2025. This indicates that the short term trend has now been bearish. The next support is at 24,742 and then 24,500, while the resistance will be near 25,255.
Ajit Mishra of Religare Broking said that if the Nifty decisively slips below 24,900, it can be selling and faster. At the same time, if there is a rebound, it can stop near 20-Day EMA i.e. close to 25,200.
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