The Bank Nifty index ended the previous session with a modest rise of 10.65 points, closing at 56,765.35, continuing its poor performance for the second consecutive session, while the Nifty index ended the session 67.55 points lower at 25,082.30, falling below the low of the previous day, indicating ongoing weakness.
Despite the index’s downward move, India VIX rose marginally by 1.38% to 11.98 but remains well below the psychological threshold of 15. This muted rise in volatility suggests that while selling persists, there is no sign of panic-driven exits. The current low-volatility regime indicates a lack of directional conviction, favouring a measured decline rather than sharp corrections.
Nifty Outlook Today
“Nifty continues to hover near its critical inflection point, exhibiting structural weakness on both daily and weekly timeframes. With resistance zones progressively shifting lower and short positions building up at higher levels, the broader trend remains firmly tilted to the downside. The derivatives setup, dominated by call writing and lack of conviction from put writers, underscores the bearish dominance. A retest of the 24,800 level appears likely in the short term. The RSI slipping below 50, reinforces the weakening momentum,” commented Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.
“For any meaningful reversal to take shape, the index must stage a decisive close above the 25,350-mark. Until then, sellers are expected to stay in control. With the earnings season underway, particularly from heavyweight sectors like IT, upcoming results will play a crucial role in shaping the near-term direction of the market,” Dhupesh Dhameja added.
Bank Nifty Outlook Today
“Nifty Bank index is trading at a technically sensitive juncture, with the 56,600 region serving as a crucial near-term support. A clear breakdown below this zone could accelerate downside momentum, opening the path toward the 56,000 mark. The formation of a swing high near 57,370 reinforces this zone as a strong resistance area, with sellers actively defending higher levels. With the price oscillating between the 10-day and 20-day DEMA, the lack of directional clarity is evident,” stated Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.
“Momentum indicators, particularly the Relative Strength Index (RSI), have dipped below the 60 threshold, highlighting waning bullish strength. Unless the index stages a convincing close above the 57,300 barrier, upward attempts are likely to face renewed supply pressure. Given the fragile technical structure and the absence of follow-through buying, any short-term bounces may be viewed as selling opportunities. A breach below the current session’s low would confirm fresh weakness, potentially setting the stage for a move toward 56,000 in the upcoming sessions,” Dhupesh Dhameja highlighted.
Stocks To Buy Today
Following the market’s fourth straight session of downward momentum on Monday, Choice Broking’s executive director, Sumeet Bagadia, suggested buying two stocks on Tuesday, July 15.
Laurus Labs
Buy LAURUSLABS in Cash @ Rs 823.85, Stop-loss @ Rs 795, Target @ Rs 882
LAURUSLABS is currently trading at 823.85 and continues to exhibit strong bullish momentum, supported by a steadily rising price structure and consistent upward swing formation. The stock is now approaching its all-time high of 827.50, which stands as a crucial resistance level. A decisive breakout above this zone could attract renewed buying interest and potentially open the door to further upside.
The overall trend remains firmly positive, with the 20, 50, 100, and 200-day Exponential Moving Averages all trending upward-underscoring sustained demand and strengthening bullish sentiment across short- to long-term timeframes. Price action consistently holding above these key moving averages further reinforces the strength of the ongoing uptrend.
A confirmed close above 827.50 may act as a breakout trigger, paving the way for a sharp move toward the next short-term target of 882. Traders are advised to closely monitor the stock’s behaviour near the resistance area for any breakout confirmation and subsequent follow-through.
On the downside, immediate support is seen at 800. The Relative Strength Index (RSI) is currently at 86.29 and rising, indicating strong buying momentum and potential overbought conditions. To mitigate risk, a protective stop-loss around 795 is recommended in case of any unforeseen market reversals.
In conclusion, based on current technical conditions, LAURUSLABS offers a strong buying opportunity for short-term traders targeting 882, provided sound risk management measures are maintained.
JM Financial
Buy JMFINANCIL in Cash@ Rs 172.18, Stop-loss @ Rs 166, Target @ Rs 186
JMFINANCIL is currently trading at 172.18, hovering near its all-time high of 174 after giving a breakout from a rounding bottom pattern. This bullish formation, developed over several weeks of accumulation, signals a shift in sentiment and marks the beginning of a potential long-term uptrend. The breakout is accompanied by a noticeable rise in volume, indicating strong market participation and fresh buying interest.
The stock remains well-supported above its key moving averages – the 20-day, 50-day, 100-day, and 200-day EMAs – all of which are trending upward. This alignment confirms a solid trend structure and reflects growing confidence among investors. A sustained close above the 174 level could lead to further upside, with a near-term target of 186. Traders should closely monitor price action near the current resistance zone for signs of breakout continuation.
On the downside, immediate support is located at 169. The Relative Strength Index (RSI) is currently at 75.37 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 166 is suggested to guard against any unexpected market reversals.
In conclusion, based on the technical analysis and current market conditions, JMFINANCIL presents a promising buying opportunity for those aiming for a 186 target, provided that appropriate risk management strategies are in place.