The tone remained greatly stable in the first three sessions, while profits booking in the final sessions lowered the indicators. Eventually, both the Nifty and the Sensex settled near their weekly low at 25,149.85 and 82,500.47 respectively.
The Nifty has entered the previous consolidation series of its crucial short-term moving average-20-day EMA-and 24,500-25,200. This breakdown has interrupted the positive bias, leading to potentially enhanced consolidation.
“On loss, 24,500-24,900 zones will act as a major support area, while with a large resistance of 25,750 on the sidewalk, there is a crucial barrier in the event of 25,550 rebounds.”
Here are the main factors that will affect the D-Street action next week:
1. Q1 Earnings:
Looking forward, the earning season will focus full. The filled calendar includes HCL Tech, Tech Mahindra, Axis Bank, ICICI Bank, Wipro, JSW Steel, L&T Finance and HDFC Bank results.
2. Domestic data:
At the Macroeconomic Front, participants will closely set the track of WPI and CPI inflation on July 14 for more signs of the economy.
3. Global events:
Globally, the uncertainty around the potential tariff move by the Trump administration continues to look at the spirit, but optimism has increased around the initial trade deal between the US-India.
4. IPO Action:
The busy IPO calendar with several leading lists, such as Crison Limited and Glenn Industries, and the pipeline is likely to keep many more Indian markets busy.
5. FII Activity:
The trend of the foreign institutional investor (FII) will also be closely monitored. On Friday, foreign institutional investors (FIIs) were net vendors worth Rs 5,155.68 crore, while domestic institutional investors (DIIs) were Rs. There were net buyers for Rs 3,482.95 crore.
6. Technical Factors:
The Nifty is weak as the previous swing slips down on the index hourly chart. In addition, it has fallen below 21 EMA on the daily deadline. With RSI in negative crossovers, velocity in the short term also remains weak. However, after the recent decline, the index has contacted the 200-hour moving average.
“The step above 25,150-25,160 in the initial trading hours could lead to 25,250 and 25,400,” said Rupak Deo, a senior technical analyst at LKP Securities. Damage is supported at 25,090 and 24,900, “said Rupak Deo, a senior technical analyst at LKP Securities.
7. Rupees action:
Rupees trades 0.11% at 85.73, as capital market weakness, gold and silver prices, and weak global signals, weighs the spirit. U.S. on Brazil and Canada Uncertainty has been added to the increase in tariffs, and the markets will be cautious till the negotiations of constructive trade emerge.
In addition, the DOLLAR Lur Index has shown a re -recovery procurement, which has increased from 96.50 to 97.75, adding pressure on emerging market currencies. It is likely to trade in the range of Rs 85.25 to 86.20.
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
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