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The Nifty IT index has breached its short-term rising wedge pattern onthe downside, indicating bearish pressure. The breakdown has beenaccompanied by a sharp decline, reflecting weak post-earningssentiment across major IT heavyweights
- RSI is Currently below 40 and trending downwards, indicatingweakening momentum Price is trading below both the 20-day and 50-day EMA, reinforcing the short-term bearish outlook.
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A decisive breach below 35,500 could open gates towards 35,000,while any rebound is likely to face resistance at 36,000–36,600.Traders should adopt a sell-on-rise strategy until signs of bottomingemerge.
| Outperformers | Underperformers |
|---|---|
| COFORGE, CYIENT | HFCL, OFSS |
NIFTY PHARMA
Date: 28-Jul-2025
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The Nifty Pharma index continues to display strength afterrecently breaking out above a multi-week consolidation zonenear 22,500, turning previous resistance into a strong support.
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The price is comfortably placed above its short- and medium-termmoving averages, indicating a solid uptrend. The recent higher lowformation, followed by a decisive move above previous swinghighs, suggests buy-on-dips strategy remains valid
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As long as the index holds above 22,200, dips are opportunitiesto accumulate for an upside move toward 22,900–23,250.
| Outperformers | Underperformers |
|---|---|
| DIVISLAB, TORNT PHARMA | GRANULES, BIOCON |
NIFTY REALTY
Date: 28-Jul-2025
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The NIFTY Realty Index started the week on a negativenote, facing resistance from a falling channel on the dailytimeframe, which led to a sharp decline of 4.93% (49.30points) over the past week
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The RSI stands at 38.78 on the momentum front, signalingnegative momentum and suggesting further downsidepotential.
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Key levels to watch are 1000 followed by 1050 on the upside whileon the downside, support lies at 950 followed by 900
| Outperformers | Underperformers |
|---|---|
| PHOENIXLTD, DLF | NBCC, LODHA |
NIFTY ENERGY
Date: 28-Jul-2025
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The index opened the week on a flat note but soon came undersignificant selling pressure from the 36,359 level, resulting in a sharpdecline of nearly 981.15 points, or -2.71%, by the end of the week
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From a technical standpoint, the index is trading below boththe 20-day and 50-day EMAs, highlighting sustainedweakness in the trend. Furthermore, the RSI is at 33.08 andpositioned below its signal line, reinforcing the presence ofstrong bearish momentum.
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Key levels to watch are 36200 followed by 36400 on the upsidewhile on the downside, support lies at 35200 followed by 34800.
| Outperformers | Underperformers |
|---|---|
| IEX | ATGL, MGL |
Sector Performance
Pick of the week
| Scrip | Trade | Entry above | Target | Stop loss |
|---|---|---|---|---|
| HOMEFIRST | BUY | 1480 | 1550/1570 | 1425 |
Rationale
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HOMEFIRST is positioned at a pivotal level, having recently broken out of a Pennant chart pattern on the daily chart. This price behavior suggests that buyers have been steadily accumulating at lower levels over the past month, paving the way for potential bullish continuation
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The stock is trading above the 20-day EMA (short-term trend indicator) & 50-day EMA (mid-term trend indicator), confirming short-term strength and acting as a support zone.
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The RSI (Relative Strength Index) is currently at 67.59, indicating strong upward momentum. If the stock holds above its breakout level, the rally could continue
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