Market Outlook: Technical Call Of The Day & Top 5 Stocks In Focus For 1st Aug 2025

The Nifty 50 saw a smart intraday recovery on July 31 after opening with a sharp gap-down of over 200 points at 24,642, triggered by the anticipated 25% tariff impact. The index slipped further to 24,635 in early trade but managed to bounce back strongly, reclaiming the 50-day EMA of 24,930 and hitting a high of 24,957. 

However, it failed to hold higher levels due to profit booking in the final hours, eventually closing at 24,768 with a loss of 87 points. The session ended with a bullish candle on the daily chart, marked by a long upper shadow—indicating persistent selling pressure at elevated levels. 

Despite the short-term weakness and consolidation, a hidden bullish divergence spotted over the past few sessions hints at a potential reversal, provided the Nifty can decisively surpass the 25,000 mark. Until then, the index is likely to remain in a tight range between 24,600–25,000. Support is expected at 24,600, aligning with the 100-day EMA, while resistance remains strong at 25,000.

In the options space, open interest on the Call side is concentrated at the 25,000, 25,200, and 25,500 strikes, indicating resistance, while on the Put side, significant support is seen around the 24,500–24,800 range, with maximum writing at 24,000. This points to a likely range-bound movement in the coming sessions unless a breakout occurs on either side.

Bank Nifty also witnessed a volatile session, falling sharply to an intraday low of 55,547—breaching its key support at 55,800—before recovering to hit 56,406 in the afternoon. However, similar to Nifty, selling emerged late in the day, and the index closed at 55,962, down 189 points. 

A bullish candle with a long upper shadow was formed, suggesting that bears are active at higher levels. Technically, Bank Nifty remains under pressure, trading below both its 20-day and 50-day EMAs, which are sloping downward. 

The RSI at 42.02 reflects weakening momentum, while the MACD remains in bearish territory, indicating potential for further downside. Key support lies in the 55,500–55,400 zone, with deeper support around 54,700–54,600 if breached. On the upside, resistance is expected near the 56,500–56,600 zone.

Among individual stocks, HUL, Jio Financial, Eternal, JSW Steel, and ITC were top gainers in the Nifty, while Adani Enterprises, Dr. Reddy’s Labs, Adani Ports, Tata Steel, and Sun Pharma were among the major losers. Sector-wise, FMCG outperformed with a 1.4% gain, while sectors like IT, metal, oil & gas, PSU banks, pharma, realty, and telecom saw declines ranging from 0.5% to 1.8%.

GRSE - TECHNICAL CALL OF THE DAY

The stock is comfortably trading above its 100 and 200 EMA levels on the daily chart which reflects strength over a medium term basis. We have taken GRSE taking support around its 100 EMA levels of Rs 2453.36 and bouncing upwards reflecting a strong base here supported by increase in volumes as well. Though the super trend indicator is negative, there is a positive RSI divergence visible on daily charts and if we analyze RSI only then it is near to its over sold territory indicating bullish implications.  

BUY GRSE CMP 2611.90 SL 2490.00 TGT 2800.00

Top stocks to watch out for 1st Aug

NCC Ltd:

• The company has informed exchanges that it has received two orders during the month of July from State Government agencies totaling Rs 791.54 crore excluding GST. Of the two orders received  by NCC, Rs 461.39 crore pertains to Buildings Division and the balance Rs 330.15 crore pertains to Electrical Division of the company. 

Mankind Pharma:

• The Board has approved the acquisition of the Branded Generic Business relating to Women Health Rx Portfolio (Business Undertaking) of Bharat Serums and Vaccines Ltd (“BSV”), the wholly owned subsidiary of the company through slump sale on a going concern basis at a lump sum consideration. 

• BSV’s core business is specialty products while it’s said Business Undertaking is mostly prescription driven Branded Generics business which is the core strength of the Company. Business Undertaking Transfer will lead to operational, commercial and financial efficiency which will bring synergy in the business processes.

Gujarat Gas:

• Gujarat Gas collaborates with Waree Energy with signing of Gas Sales Agreement for PNG supply of 50,000 scmd for its Lithium-ion cells manufacturing unit at Valsad, Gujarat. This partnership will pave the way for sustainable energy solutions and reduce the carbon footprint paving way for sustainable energy thereby improving the quality of present and future human life. This plant is under construction and is expected to be commissioned in Q4FY26.

Neogen Chemicals:

• Neogen Ionics Limited – the wholly owned subsidiary of the company, has incorporated its wholly owned subsidiary named “Neogen Morita New Materials Ltd” (“NMNML”) i.e. Step-Down Subsidiary of Neogen Chemicals on 30th July 2025. 

• NMNML is incorporated with the main objective to address growth opportunities in Lithium- Ion Battery material space, especially related to electrolyte Salts needed for internal consumption for electrolytes as well as to meet global market demand. Further Neogen Ionics Limited is in advance discussion with Morita Chemicals Industries Co. Limited of Japan for formation of a Joint Venture Company in India and to facilitate the same NMNML is incorporated.

Swiggy:

• Swiggy reported a net loss of Rs 1,197 crore in Q1FY26, nearly doubling the Rs 611 crore loss on a YoY basis, driven largely by widening losses in its Quick Commerce arm, Instamart. EBIT loss for Instamart surged to Rs 797 crore from Rs 379 crore YoY. 

• Overall revenue rose 54% YoY to Rs 4,961 crore, with EBITDA loss widening to Rs 954 crore from Rs 544 crore. Food delivery revenue grew to Rs 1,799 crore, while Quick Commerce revenue more than doubled to Rs 806 crore. Gross Order Value (GOV) rose 45% YoY to Rs 14,797 crore, with food delivery GOV at Rs 8,086 crore and Quick Commerce GOV at Rs 5,655 crore.