The Indian equity markets displayed a resilient and optimistic tone on Tuesday. After a bearish opening, both the Nifty 50 and BSE Sensex recovered strongly to close in the green, driven by broad-based buying across multiple sectors. The upbeat momentum was led by the Realty and Pharma sectors, which saw notable gains, reflecting increased investor confidence. The drop in market volatility, indicated by a fall in the India VIX, further contributed to the positive sentiment, suggesting a calmer and more confident outlook among traders.
Despite the domestic market’s upward movement, Asian markets offered a mixed picture, reflecting varied investor sentiment across the region. Some indices ended in the red, while others posted moderate gains, creating a neutral external environment. Nevertheless, the strength in Indian markets appeared to be driven largely by internal factors, including sector-specific momentum and technical support, helping to counterbalance global uncertainty.
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 24,609.65 on Tuesday, down by -71.25 points from Monday’s closing of 24,680.90 but closed in green at the end of the session. In the morning session, the Nifty Index was volatile and made the day’s low at 24,598.60 but later surged up to the 24,698 level, above its opening level. The index was trading in the range of 24,700 to 24,600 in the morning session.
It was trading below the 50/100/200 but above 20-day EMAs in the 15-minute time frame. In the afternoon session, the Nifty Index rallied above the 24,800 level and made the day’s high at 24,847.15 in the afternoon session and closed near the day’s high at 24,821.10 in green. During the afternoon session, it closed below all the EMAs of 100/200 but above the 20/50 EMAs in the 15-minute time frame. Nifty’s immediate resistance levels are R1 (24,892), R2 (25,123), and R3 (25,249), while immediate support levels are S1 (24,618), S2 (24,506), and S3 (24,380).
The Nifty index had reached a day’s high at 24,847.15, closed in green above the 24,800 level, and saw a day’s low at 24,598.60. Finally, it had closed above the opening level at 24,821.10, gaining +140.20 points or 0.57%. The Relative Strength Index (RSI) stood at 42.05 (below the overbought zone of 70) 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 55,881.80 on Tuesday, down by -203.1 points from Monday’s closing of 56,084.90. In the morning session, the index started in a bearish trend, but later the Index rebounded from the day’s low of 55,843.25, up by +161.75 points, and was above the opening level at 56,005. It was trading between the range of 55,800 to 56,150 levels. 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 rallied from the day’s low and made the day’s high at 56,296.40. The Index closed above the 56,200 level in the afternoon session. On Tuesday, the Nifty Bank closed near the day’s high at 56,222.00 in green. During the afternoon session, it closed above 20/50 but remained below 100/200 EMAs in a 15-minute time frame. Bank Nifty immediate resistance levels are R1 (56,298), R2 (56,574), and R3 (56,960), while immediate support levels are S1 (55,876), S2 (55,646), and S3 (55,383).
The Bank Nifty index had peaked at 56,296.40 and made a day’s low at 55,843.25. Finally, it had closed in green at 56,222.00, gaining +137.10 points or 0.24%. The Relative Strength Index (RSI) stood at 44.93 (below the overbought zone of 70) in the daily time frame, and Bank Nifty was above the 50/100/200 EMAs but remained below the 20-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 80,620.25 on Tuesday, down by -270.77 points from Monday’s closing of 80,891.02. The Index was volatile in the morning session and formed a bullish trend to 80,886 above its opening level in the morning session. The index was trading in the range of 80,500 to 81,000 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 rebounded from its day low and was trading above the 81,300 level and made the day’s high at 81,429.88. The Sensex closed near the day’s high at 81,337.95 in green. During the afternoon session, it traded above the 20/50 but remained below the 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 (80,650), S2 (80,018), and S3 (79,354).
The BSE Sensex index had peaked at 81,429.88 and made a day’s low at 80,575.45. Finally, it had closed at 81,337.95, up by +446.93 points or 0.55%. The Relative Strength Index (RSI) stood at 41.66 (below the overbought zone of 70) 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 declined by -0.54 points, or 4.46%, from 12.06 to 11.52 during Tuesday’s session. Reduction in India VIX indicates calm and lower expected volatility.
Market Recap on 29th July 2025
The Nifty 50 had a rising trend today, although it started the day lower than its previous close of 24,680.90, at 24,609.65, suggesting a negative start. After hitting the day’s low of 24,598.60, it closed below the 20/50 day EMAs at 24,821.10. At the end of the day, the Nifty 50 was up 140.20 points, or 0.57%. The BSE Sensex followed the same pattern, closing at 81,337.95 after rising 0.55%, or 446.93 points.
The index is now trading below the 20/50-day EMAs, although it was above the 100/200-day EMA at the day’s low of 80,575.45. The Nifty ended above the 100 and 200 EMAs on Tuesday, while the Nifty 50 RSI held steady at 42.05. At 41.66, the BSE Sensex RSI likewise finished far below the 70-point overbought barrier. The second half of the session saw a surge in the market due to widespread buying across all sectors. Indicating less market volatility, the India VIX fell -0.54 points, or 4.46%, to 11.52 on Tuesday.
Nifty Realty was the top gainer on Tuesday, closing at 926.50 after gaining 14.60 points, or 1.6%, as the majority of the indexes ended the day in the green. Major equities that witnessed increases of up to 4% today were Lodha Developers, Anant Raj, Oberoi Realty, and Godrej Properties. Among the biggest gainers was the Nifty Pharma index, which ended the day at 23,072.45, up 311.30 points, or 1.4%. Granules India, Abbott India, JB Chemicals & Pharmaceuticals, and Torrent Pharmaceuticals were the top performers, with increases of up to 6%.
On Tuesday, however, Asian markets displayed a mixed pattern. At 25,524.45, the Hong Kong Hang Seng index closed the day down 37.68 points, or 0.15%. In addition, China’s Shanghai index ended the day at 3,609.71, up 11.77 points, or 0.33%. The Kospi index for South Korea closed the day at 3,230.57, up 21.05 points, or 0.66%. At 40,674.55 points, the Nikkei 225 Index closed the day down 323.72 points, or 0.79%. The Shenzhen component index ended the day up by 71.82 points, or 0.64%, at 11,289.41. Additionally, at 4:46 PM on Tuesday, Dow Jones Futures increased 63 points, or 0.14%, to 45,077 in the US.
Trade Setup Summary
The Nifty 50 opened on a negative note at 24,609.65 on Tuesday, was more volatile in the morning session, but rebounded in the afternoon session and closed at 24,821 broke above the 24,800 level. A break below 24,618 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 24,821.10 but later rebounded from the low and ended in green at 56,222.00, breaking above the 56,200 level. A break below 55,876 could trigger further selling towards 55,646, while a break above 56,298 could trigger bullishness towards 56,574.
Sensex opened on a similar trend as Nifty 50, opening on a negative note at 80,620.25 on Tuesday but in the afternoon session ending in green at 81,337.95, breaking above the 81,300 level. A break below 80,650 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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