July 21, 2025
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Market Analysis from HDFC Securities for 22 July2025
by Nandish Shah, Deputy Vice President, HDFC Securities
Nifty Stages Sharp Recovery , Gaining Over 100 Points ; Private Banks lead The Surge
After opening 31 points higher, the Nifty immediately faced selling pressure, which dragged the index down by 86 points to 24882. However, post-9:35 A.M., the Nifty sharply reversed its trend, registering a recovery of 229 points from its day’s low. The index ultimately concluded the session with a gain of 122 points, or 0.49%, closing at 25090.
Eternal, ICICI Bank and HDFC Bank emerged as the top performers in the Nifty. On the flip side, Reliance, Wipro, and IndusInd Bank concluded the session as the major losers. Trading volumes on the NSE cash market were slightly lower by 3% compared to last Friday.
Amongst the sectoral indices, Nifty Financial Services, Nifty Bank, and Metal emerged as major gainers, playing a crucial role in the Nifty’s rebound. On the other hand OIL/GAS, PSU Banks and FMCG faced the steepest declines, contributing significantly to the overall market fall.
The Nifty Midcap 100 Index gained 0.62% while Nifty smallcap 100 Index underperformed the Benchmark where it ended flat. Market breadth remained negative, with declining stocks outnumbering advanced ones on the BSE, as indicated by an advance – decline ratio of 0.90.
The Indian Rupee continued to face headwinds, remaining the weakest among Asian currencies today. It depreciated by another 14 paise against the greenback, closing at 86.29. The primary catalysts for this persistent decline appear to be consistent dollar demand from importers and a continued exodus of foreign capital.
For the last two trading sessions, Nifty has been giving respect to 50 days EMA support, currently placed at 24938 levels. Today’s recovery from the crucial support and close on a strong note increases the chance of further up move in Nifty going ahead. Traders should cut shorts and initiate fresh longs with 24900 stoploss in Nifty. On the higher side 25255 could offer immediate resistance.
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