Market Trend: Talking on the front direction and direction of the market, Sudip Shah of SBI Securities said that the Nifty came out of the rangebound business last week and a gain of 2.09 per cent to close above 25,600 points. Even more important is that it saw the highest weekly closing after September 2024. This confirms that this breakout was not just symbolic but structural. The index has created a large bullish candle on the weekly chart, which is a sign of strengthening and fresh purchases in Momentum.
This breakout has come on the strength of shares like financial, private banks, oil and gas, infra and auto. Many of these sectors have also seen their own breakout patterns. On the basis of strong technical indicators and sectoral participation, the Nifty is expected to continue in the coming weeks. The Nifty can touch 25,800 in the short term. After this it can reach 26,100. There is immediate support in the zone of 25,400-25,350 for this.
Historically how has the performance of equity markets in the month of July and do you expect a similar trend in July 2025?
On this, Sudeep said that if we look at the figures of the last 18 years, there has been a positive trend for Nifty in the month of July. On 14 occasions, the index has done positive closing with an average gain of 4.60 per cent. Whereas on only 4 occasions, it has closed in red mark with an average decline of 2.37 per cent. The average return of Nifty in the July series was 3.05 percent. The Nifty Index has displayed an average volatility of 7.20 per cent in July in the last 18 years.
Talk about previous data, Bank Nifty has shown positive trends in July in the last 18 years. It is closed in green mark 13 times in 18 times. During this period, the bank Nifty has seen an average of 4.52 per cent. While 5 times it is closed in red mark. The average decline during this period has been 3.58 pieces. Bank Nifty’s average return was 2.27 percent in the July series. However, Bank Nifty has shown an average volatility of about 10 per cent in the last 18 years.
Describing his two top pics for the month of July, Sudeep said that he Apollo Hospitals Enterprises and Glaxosmithkline Pharmaceuticals Likes shares.
Apollo Hospitals Enterprises: Stock on the daily scale has given strong volumes as well as ascent triangle pattern brakeouts. Currently, the stock is trading above all moving averages and these averages are in increasing order. Daily RSI has also given a 2 -month consolidation breakout, indicating a boom in the upside Momentum. In such a situation, it will be advisable to make purchases at a level of Rs 7,320-7,280 with a stop-loss of Rs 7,080 in this stock. This stock can see a level of Rs 7,750 in this stock in the short term.
Bank Nifty Nifty can touch the level of 60000 first of Diwali, bumper earnings will be in these four shares
Glaxosmithkline pharmaceuticals: This stock has recently created a strong base near its 34-day EMA level and then started moving upwards. The support zone has purchases in stock, it is a sign of changing trends. The Daily RSI has increased above 60 points and is in increasing order. This is also a sign of speed. Keeping in mind the current chart formation, this stock is expected to continue in the next few business sessions. In such a situation, it will be advisable to make purchases at a level of Rs 3,450-3,430 with a stop-loss of Rs 3,330 in this stock. This stock can see a level of Rs 3,600 in the short term.
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