The market sentiment remained bearish as both the Nifty 50 and the Sensex extended their declines for the third consecutive session. Investor mood was dampened by concerns over delayed trade talks between the US and India, persistent foreign institutional selling, and disappointing Q1 corporate earnings. Technical indicators reflected weakness, with both indices trading below key short-term moving averages and their respective RSI levels approaching oversold territory.
Despite the overall negative tone, defensive sectors like pharma and FMCG attracted buying interest, suggesting a shift toward safer assets amid uncertainty. In contrast, the realty sector saw pronounced selling pressure, signalling risk aversion and waning investor confidence in economically sensitive segments. Volatility picked up, as indicated by a rise in the India VIX, highlighting growing nervousness among traders.
Broader Asian markets were largely positive, providing some contrast, but domestic sentiment remained fragile and cautious. In this overview, we will analyse the key technical levels and trend directions for Nifty and BSE Sensex to monitor in the upcoming trading sessions. All the charts mentioned below are based on the 5-minute timeframe.
Nifty 50
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
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The Nifty 50 Index opened on a negative note at 24,782.45 on Monday, down by -54.55 points from Friday’s closing of 24,837.00. The Nifty Index was volatile and was down to the 24,772 level, below its opening level, and the index was trading in the range of 24,700 to 24,900 in the morning session. It was trading below all the 20/50/100/200 EMAs in the 15-minute time frame.
In the afternoon session, the Nifty Index dragged down to the 24,600 level and made the day’s low at 24,646.60 in the afternoon session and closed near the day’s low at 24,680.90 in red. During the afternoon session, it closed below all the EMAs of 20/50/100/200 in the 15-minute time frame in the afternoon session. Nifty’s immediate resistance levels are R1 (24,892), R2 (25,123), and R3 (25,249), while immediate support levels are S1 (24,659), S2 (24,506), and S3 (24,380).
The Nifty index had reached a day’s high at 24,889.20, closed in red below the 24,700 level, and saw a day’s low at 24,646.60. Finally, it had closed below the opening level at 24,680.90, losing -156.10 points or 0.63%. The Relative Strength Index (RSI) stood at 36.92 (below the overbought zone of 70 but nearing the oversold zone in the daily time frame), and the Nifty 50 closed above the 100/200 EMAs and remained below the 20/50 EMA in the daily time frame.
Bank Nifty
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
The Bank Nifty Index started the session on a negative note at 56,215.10 on Monday, down by -313.8 points from Friday’s closing of 56,528.90. In the morning session, the index started in a bearish trend. It was trading between the range of 56,500 to 56,100 levels and was trading above its opening level at 56,330. The Index was trading below all four 20/50/100/200 EMAs in the 15-minute time frame in the morning session.
In the afternoon session, the Bank Nifty lost its momentum and was dragged down to the 56,000 level and made the day’s low at 55,997.45 in the afternoon session. On Monday, the Nifty Bank closed near the day’s low at 56,084.90 in red. During the afternoon session, it closed below all four 20/50/100/200 EMAs in a 15-minute time frame. Bank Nifty immediate resistance levels are R1 (56,181), R2 (56,574), and R3 (56,960), while immediate support levels are S1 (55,931), S2 (55,700), and S3 (55,383).
The Bank Nifty index had peaked at 56,578.40 and made a day’s low at 55,997.45. Finally, it had closed in red at 56,084.90, losing -444 points or 0.79%. The Relative Strength Index (RSI) stood at 43.10 (below the overbought zone of 70) in the daily time frame, and Bank Nifty was above the 100/200 EMAs but remained below the 20/50-day EMA in the daily time frame.
Sensex
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
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The BSE Sensex Index followed a similar trend as the Nifty 50, opening on a negative note at 81,299.97 on Monday, down by -163.12 points from Friday’s closing of 81,463.09. The Index was volatile in the morning session and formed a bearish trend to 81,194 below its opening level in the morning session. The index was trading in the range of 81,000 to 81,600 levels and was trading below all the 20/50/100/200 EMAs in the 15-minute time frame in the morning session.
In the afternoon session, the Sensex Index was dragged down to the 80,800 level and made the day’s low at 80,776.44. The Sensex closed above the day’s low at 80,891.02 in red. During the afternoon session, it traded below all four of the 20/50/100/200 EMAs in the 15-minute time frame. BSE Sensex immediate resistance levels are R1 (81,563), R2 (82,306), and R3 (82,778), while immediate support levels are S1 (80,770), S2 (80,018), and S3 (79,354).
The BSE Sensex index had peaked at 81,557.41 and made a day’s low at 80,776.44. Finally, it had closed at 80,891.02, down by -572.07 points or 0.70%. The Relative Strength Index (RSI) stood at 36.73 (below the overbought zone of 70 but nearing the oversold zone in the daily time frame), and the BSE Sensex was above the 100/200 EMAs but remained below the 20/50 EMA in the daily time frame.
India VIX
The India VIX jumped by +0.79 points, or 6.98%, from 11.28 to 12.06 during Monday’s session. More substantial changes in stock prices are indicated by a rise in the VIX index. It indicates increased risk or market uncertainty.
Market Recap on 28th July 2025
The Nifty 50 extended its decline for the third consecutive trading session. It opened lower at 24,782, compared to the previous close of 24,837. The index touched a low of 24,646.6 and closed at 24,681, remaining below the 20/50-day exponential moving averages (EMAs). By the end of the day, the Nifty 50 had fallen by 156.1 points or 0.63%. The BSE Sensex followed a similar trajectory, dropping 572.07 points or 0.70%, to settle at 80,891.2.
It touched a day’s low of 80,776.4, hitting the 100-day EMA, while also trading below its 20/50-day EMAs. The Nifty 50’s Relative Strength Index (RSI) declined to 36.92, although it stayed above the 100/200-day EMAs. The Sensex RSI also fell to 36.73, well below the overbought level of 70. This decline was driven by delays in US-India trade negotiations, continued foreign investor selling, and weak Q1 corporate earnings. The India VIX rose to 12.06, up 0.79 points or 6.98%, indicating heightened market volatility.
All major indices ended in the red, with a few sectoral exceptions. The Nifty Pharma index was the top gainer, rising 0.43% or 98.45 points, to close at 22,761. Notable gainers included Laurus Labs Ltd, Cipla Ltd, Gland Pharma, and Dr. Reddy’s, which gained up to 6%. The Nifty FMCG index also performed well, ending at 54,732, up 153 points or 0.28%. Top performers in this segment were Dabur India, Varun Beverages Ltd, Hindustan Unilever Ltd, and Marico Ltd, with gains of up to 2%.
The Nifty Realty index was among the biggest losers, closing at 911.90, down 38.70 points or 4.07%. It has now declined for five straight sessions and remains below the 20, 50, 100, and 200-day EMAs. The index’s RSI dropped to a 3-month low of 29.98. Major laggards included Lodha Developers Ltd, Godrej Properties Ltd, DLF Ltd, and Oberoi Realty Ltd, all falling more than 5%.
Meanwhile, Asian markets mostly traded in positive territory. Hong Kong’s Hang Seng index closed at 25,518.00, up 0.51% or 129.65 points. China’s Shanghai index gained 4.28 points or 0.12%, to close at 3,597.94. South Korea’s Kospi rose 13.47 points or 0.42%, to finish at 3,209.52. The Jakarta Composite in Indonesia ended at 7,614.77, rising 71.27 points or 0.94%. However, Japan’s Nikkei 225 declined by 403.23 points or 0.98%, to close at 41,053.00. In the US, Dow Jones Futures gained 38.37 points or 0.09%, closing at 44,941.29 as of 4:53 PM.
Trade Setup Summary
The Nifty 50 opened on a negative note on Monday at 24,782.45, was more volatile in the morning session, and fell throughout the session and closed at 24,681 broke below the 24,700 level. A break below 24,659 could trigger further selling towards 24,506, while a break above 24,892 could trigger bullishness towards 25,123.
Bank Nifty started the session on a negative note at 56,215.10 but ended in red at 56,084.90, breaking below the 56,100 level. A break below 55,931 could trigger further selling towards 55,700, while a break above 56,181 could trigger bullishness towards 56,574. Sensex opened on a similar trend as Nifty 50, opening on a negative note at 81,299.97 and ending at 80,891.02 in the red. A break below 80,770 could trigger further selling towards 80,018, while breaking the next resistance level of 81,563 could lead towards the 82,306 level.
Given the ongoing volatility and mixed sentiments, it’s advisable to avoid aggressive positions and wait for clear directional moves above resistance or below support. Traders should consider these key support and resistance levels when entering long or short positions following the price break from these critical levels. Additionally, traders can combine moving averages to identify more accurate entry and exit points.
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