Market Outlook

Support comes in at the 24150, 23894, 23667, 23263, 23111, 22974, 22769, 22526 22300, 22125, 21834, 21500, 21020, 20850, 20500, 20222, 19992, 19875, 19667, 19524, 19250, 18888, 18600, 18442, 18200, 18095, 17948, 17792, 17613, 17430, 17226, 17055, 16900, 16700, 16359, 16203 while resistance comes in at 24344, 24588, 24792, 25002, 25212, 25446, 25669, 25800, 25908, 26104, 26277, 26500.

The Nifty has promised much but hasn’t exactly delivered to remain within the confines of an expanded trading range between 23800 (this level was tested on 8th July 2026 when the Nifty posted an intraweek low of 23805.20) on the downside and 24588 on the upside. Maximum call open interest comes in at 24600 followed by 24500 while maximum put open interest comes in at 24000 followed by 24200 indicating a slightly similar but marginally higher trading range compared to the last week (not very surprising considering the fact that we are in the third week of the current series) but the situation remains fluid with movements expected on either side. Nifty has seen some notable decrease in open interest during the week to end at 01.46 cr (rounded off) and has seen a down tick of nearly 05.19% (rounded off) on the last trading session of the week; the Bank Nifty has seen open interest being decreased during the week to end at 20.07 lakh (rounded off) compared to the last week; has actually seen open interest (00.95%) being lower on the last trading session of the week. The Vix has spent almost the entire week in a rangebound movement (with a mixed bias) above the 12.50 level (in terms of closing) except that it ended at 13.15 (higher from an intra week low of 09.48) which has resulted in the Nifty generally being slightly better during the week. The Nifty has been range bound for 24 trading sessions without a directional bias but the setup seems to be more positive than negative while a clear breakout in terms of closing is needed above the upper boundary of the trading range. Auto and Realty could surprise. Support comes in at the 24150, 23894, 23667, 23263, 23111, 22974, 22769, 22526 22300, 22125, 21834, 21500, 21020, 20850, 20500, 20222, 19992, 19875, 19667, 19524, 19250, 18888, 18600, 18442, 18200, 18095, 17948, 17792, 17613, 17430, 17226, 17055, 16900, 16700, 16359, 16203 while resistance comes in at 24344, 24588, 24792, 25002, 25212, 25446, 25669, 25800, 25908, 26104, 26277, 26500.