- The Nifty METAL index ended the week on a flat note at 9,580.40, with a marginal gain of 0.02%. It formed an indecisive candlestick pattern on the weekly chart, reflecting uncertainty, but the daily chart showed signs of buying interest, suggesting potential strength ahead.
- On the weekly timeframe, the RSI is steadily rising and currently stands at 59.40, reinforcing the ongoing uptrend.
- Key levels to watch include resistance at 9,850 and 9,500, while immediate support is seen at 9,350 and 9,000.
| Outperformers | Underperformers |
|---|---|
| SAIL, JINDAL STEEL | APL APOLLO TUBES, ADANI ENT |
NIFTY PSU BANKS
Date: 07-Jul-2025
- The NIFTY PSU BANK Index began the week on a strong note but gave up some of its gains as the week progressed, eventually closing at 7,152.95 with a weekly rise of 1.96%.
- On the momentum front, the RSI stands at 61.88, indicating positive momentum and hinting at further upside potential.
- Key resistance levels to watch are 7,500 and 7,700, while immediate support is placed at 7,000, followed by 6,700.
| Outperformers | Underperformers |
|---|---|
| BANK OF MAHA,OVERSEAS BANK | BANK OF BARODA |
NIFTY PHARMA
Date: 07-Jul-2025
- The NIFTY PHARMA Index started the week on a positive note at 22,036.25 and maintained its upward trajectory throughout the week, ending at 22,384 with a gain of 2.08%.
- On the momentum front, the RSI stands at 58.08, indicating positive momentum and pointing towards the potential for further upside. Additionally, the index has given a breakout of cup and handle chart pattern on the weekly chart, reflecting strong buying interest.
- Crucial levels to monitor are 22,600 and 22,800 on the upside, while support is seen at 22,000 and 21,800 on the downside.
| Outperformers | Underperformers |
|---|---|
| NATCO PHARMA, LAURUS LAB | JB CHEMICALS, GRANULES |
NIFTY OIL & GAS
Date: 07-Jul-2025
- The NIFTY OIL & GAS Index opened the week on a strong note at 11,862 and continued to trade positively throughout, closing at 12,002.35 with a weekly gain of 1.41%.
- Momentum indicators remain strong, with the RSI at 63.82, suggesting continued bullish momentum and potential for further upside. The index has also registered a breakout of rounding bottom chart pattern on the weekly chart, highlighting strong buying interest.
- Important levels to watch include resistance at 12,300 and 12,500, while support is placed at 11,800 and 11,500.
| Outperformers | Underperformers |
|---|---|
| INDRAPRASHTHA GAS, BPCL | AEGIS LOG, ADANI TOTAL GAS |
Sector Performance
Pick of the week
| Scrip | Trade | Entry above | Target | Stop loss |
|---|---|---|---|---|
| TIIL | BUY | 3242 | 3438 | 3144 |
Rationale
- TIIL is currently at a crucial juncture, having recently broken out of a Cup and Handle pattern on the daily chart. After the breakout, the stock witnessed a normal retracement and now appears set for a fresh upward move. This price behavior suggests that buyers have been steadily accumulating at lower levels over the past month, paving the way for potential bullish continuation
- 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.
- The RSI (Relative Strength Index) is currently at 64.08, indicating strong upward momentum. If the stock holds above its breakout level, the rally could continue
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