The Nifty 50 opened weak on Monday, continuing last week’s downtrend amid mixed global cues, soft Q1 earnings, and continued foreign investor selling. The index ended last week at 24,837, down 0.9 percent.

Market Outlook

Support: 24,600–24,550

Resistance: 25,100–25,500

A close below 24,450 could deepen the correction, while a breakout above 25,250 may revive bullish sentiment.

Key Triggers

FIIs sold ₹2,999 cr on Friday, extending their bearish streak.

DIIs bought ₹1,803 cr, providing some stability.

Global markets remain mixed; Gift Nifty signals a flat start.

Q1 Earnings Highlights

Kotak Mahindra Bank: Stock fell 6% after profit miss, higher provisions, and weak margins.

Shriram Finance: Rose 4% despite muted numbers, suggesting positive investor sentiment.

Upcoming today: IndusInd Bank, NTPC Green, GAIL, Bharat Electronics.

Sector Snapshot

IT: Under pressure (–1.4%), led by TCS and Infosys declines.

Financials: Weakness led by Kotak; other banks in focus.

Pharma: Outperformed on defensive buying; Torrent Pharma hit new highs.

Analyst Stock Picks (Intraday Focus)

Stock Action Target Stop Loss

Torrent Pharmaceuticals Buy ₹3,880 ₹3,480
Syrma SGS, NALCO, Marico Buy – –
Shyam Metalics, Laxmi Organic Buy – –

What’s Ahead

July is set to be the Nifty’s worst month since 2019, down nearly 2.7 percent. Analysts say August could be pivotal, with earnings clarity, global trade trends, and Fed policy expected to drive direction.

“Short positions are heavy. If earnings stabilize, a short-covering rally is possible,” said Anand James of Geojit.

Bottom line: Stay cautious. Focus on quality stocks and watch for earnings surprises or trend reversals at key support levels.