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Indian markets are likely to witness a cautiously positive start on 29 July 2026, supported by firm global cues and a positive indication from GIFT Nifty. US markets ended the previous session higher, while Asian markets are trading on a mixed note.
On the institutional front, both FIIs and DIIs remained net buyers in the cash market, although derivatives data remains less meaningful due to the monthly expiry. Market participants will also closely monitor corporate earnings, order wins, and stock-specific developments that could drive intraday momentum.
Apart from the broader market setup, several companies remain in focus due to fresh corporate announcements, while another set of companies will announce their quarterly earnings today.
Watch Today's Complete Market Outlook
Key Takeaways
- GIFT Nifty indicates a positive opening for Indian markets.
- FIIs and DIIs were net buyers in the cash market.
- Nifty continues to trade around the 24,000 mark, with 24,135–24,262 acting as immediate resistance levels.
- Paradeep Phosphates, RailTel, Dynacons Systems, and RVNL remain in focus following major corporate announcements.
- Several large-cap companies, including Adani Enterprises, Asian Paints, Dabur India, Eicher Motors, and KPIT Technologies, will announce Q1 results today.
- Eternal, Prestige Estates Projects, and United Spirits are among the key stocks highlighted in today's market outlook for investors to monitor.
Market Setup Today (29 July 2026)
Global Market Cues
- US markets ended mixed, with the Dow Jones gaining 537 points.
- Dow Futures are trading slightly lower by 41 points.
- Asian markets are trading on a mixed note.
- GIFT Nifty indicates a positive opening of around 130 points.
Institutional Activity
Cash Market
- FII: +₹755 crore
- DII: +₹1,664 crore
- Net Buying: +₹2,419 crore
F&O Data
- Nifty PCR: 1.05 vs 1.11
- Highest Open Interest: 24000 CE & 24000 PE
- Max Pain: 24000
- India VIX: 12.56 (-0.77%)
Note: As highlighted in today's market outlook, derivatives data may not offer meaningful signals because of the monthly expiry.
Technical Outlook
Nifty Outlook
Nifty continues to hover around the 24,000 mark amid heightened volatility.
Resistance Levels
- 24,135
- 24,262
Support Levels
- 23,950
- 23,800
Bank Nifty Outlook
Bank Nifty continues to trade within a broad range while showing relatively weaker momentum.
Resistance Levels
- 57,100
- 57,300
- 57,770
Support Levels
- 56,500
- 56,000
Stocks to Watch Today
The following stocks are part of today's market watchlist based on technical observations shared during the market outlook. These are not investment recommendations. Investors should conduct their own analysis and consider their financial objectives before making any investment decisions.
Eternal
Eternal is showing a classical flag formation breakout after establishing a base above its 200-day moving average, according to today's technical outlook. The stock is highlighted as one of the stronger counters in the current series, supported by both technical and fundamental observations.
The speaker noted that the stock could remain on investors' radar, with ₹280 identified as an important support level, while ₹350 is being watched as a potential upside level if the current momentum continues.
Prestige Estates Projects Ltd.
Prestige Estates Projects has been highlighted as another stock to monitor, with the real estate sector showing notable strength in the current market series. According to the discussion, the stock is currently forming a flag pattern, although a confirmed breakout is yet to occur.
The technical view suggests that ₹1,600 may act as an important support level. If the anticipated breakout materialises, the stock could witness further momentum, with ₹1,900–₹2,000 being the levels discussed during the market outlook.
United Spirits Ltd.
United Spirits has been included in today's watchlist as the liquor segment is showing improving momentum. As discussed in the market outlook, the stock has delivered a technical breakout, supported by positive price momentum during the current series. Santosh Meena mentioned that the stock remains on the radar, with ₹1,650 being the level to watch if the ongoing momentum continues.
Stocks in News Today
Several companies are expected to remain in focus following important corporate developments announced recently.
Paradeep Phosphates
The company's board has approved setting up a 15,000 MTPA aluminium fluoride manufacturing plant at Paradeep, involving an estimated investment of ₹250 crore.
RailTel Corporation
RailTel secured a ₹43.90 crore work order from the AIG of Police, Odisha, for deploying IT, cyber forensics, and finance & accounts professionals for Odisha Police. The project is scheduled for completion by 30 August 2029.
Dynacons Systems
Dynacons Systems received a ₹267.58 crore contract from NPCI for data centre augmentation, including enterprise server infrastructure and a seven-year support and warranty agreement.
RVNL
Rail Vikas Nigam Limited (RVNL) received a Letter of Acceptance worth ₹358.97 crore from East Central Railway for a railway doubling project between Kundawa Chainpur and Raxaul.
Q1 Results Today
Several companies are scheduled to announce their quarterly earnings today.
F&O Stocks
- Adani Enterprises
- Adani Ports
- Asian Paints
- Colgate-Palmolive
- Dabur India
- Eicher Motors
- Force Motors
- KPIT Technologies
- Prestige Estates Projects
- Waaree Energies
Frequently Asked Questions (FAQs)
Which companies will announce Q1 results today?
Major companies scheduled to report quarterly earnings include Adani Enterprises, Adani Ports, Asian Paints, Dabur India, Eicher Motors, KPIT Technologies, Prestige Estates Projects, Waaree Energies, Bajaj Housing Finance, Chalet Hotels, and Star Health.
What are the important Nifty levels for today?
According to today's technical outlook:
- Resistance: 24,135 and 24,262
- Support: 23,950 and 23,800
What are the important Bank Nifty levels?
Resistance
- 57,100
- 57,300
- 57,770
Support
- 56,500
- 56,000
Why are FIIs and DIIs important for the stock market?
FII and DII activity provides insight into institutional participation in the market. Their buying or selling trends can influence overall market sentiment, although investment decisions should consider multiple factors rather than institutional flows alone.
Over to You
Start your trading day with Trader's Breakfast, where Santosh Meena, Head of Research at Swastika Investmart Ltd., shares his views on market trends, key developments, and stocks to watch before the opening bell. Tune in every trading day for timely market insights and stay connected with Swastika Investmart for the latest updates on the stock market, corporate news, quarterly earnings, and technical outlook.
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