Market Outlook: Technical Call Of The Day & Top 5 Stocks In Focus For 23rd Jul 2025

Nifty index opened positive and inched to 25182 levels within the first few minutes of trading before succumbing to sustained selling pressure and sipped. Index exhibited a range bound trading session, faced immediate selling pressure but defended the psychological 25k support zone. It formed a bearish candle on daily scale but negated its lower highs - lower lows formation of the last three sessions. The tug of war between the bulls and bears have painted a mixed picture with a fragile structure. Now it has to decisively cross and hold 25100 zones, for a bounce towards 25250 then 25350 zones while supports are placed at 25000 then 24850 zones.

On option front, Maximum Call OI is at 25100 then 25200 strike while Maximum Put OI is at 25100 then 25000 strike. Call writing is seen at 25100 then 25200 strike while Put writing is seen at 25100 then 25050 strike. Option data suggests a broader trading range in between 24600 to 25500 zones while an immediate range between 24800 to 25300 levels.

S&P BSE Sensex index opened on a positive note but came under selling pressure right from the beginning of the session indicating a lack of follow through buying at higher levels. As the session progressed the index attempted to recover from lower zones and witnessed a bounce back from support levels. However, it struggled to sustain above the 82400 marks facing resistance that capped further upside.

It formed a bearish candle with longer lower shadow reflecting selling pressure at higher levels. It finally ended the day on a flat note. Now if it manages to cross and hold above 82400 zones, it can move towards 82600 then 82800 zones while supports can be seen at 82000 then 81700 zones.

Bank Nifty index opened gap up by more than 300 points but failed to hold its opening gains and gradually drifted lower towards 56750 zones in the latter part of the session. It formed a bearish candle on daily scale as momentum is missing at higher zones but multiple supports are intact at lower levels. Index has again got stuck in a range of 1000 points but is hovering near its 10 DEMA. Now it has to hold above 56750 zones for a bounce towards 57000 then 57250 levels while a hold below the same could see some weakness towards 56500 then 56250 zones.

Nifty future closed negative with losses of 0.13% at 25095 levels. Positive setup seen in Eternal, Angel One, Paytm, Shree Cement, Dalmia Bharat, Tata Chemical, Delhivery, UPL, Max Financial, Ambuja Cement and Fortis while weakness in Aarti Industries, Canara Bank, Motherson, Supreme Industries, Granules, IRFC, Aurobindo Pharma, Cipla, AU Bank and Birla Soft.

BSE - TECHNICAL CALL OF THE DAY

The stock is in a clear uptrend as it trades above all its key moving averages of 40/100 and 200 EMA levels on daily charts. In fact the stock has taken support today around its 40 EMA levels and trades above those levels indicating strong support in the short term. There is positive RSI divergence visible on daily charts signalling bullish implications.

BUY BSE CMP 2548.40 SL 2450.00 TGT 2680.00

Top stocks to watch out for 23rd Jul

Dalmia Bharat:

• The Board of Dalmia Cement (Bharat) Ltd (“DCBL”), wholly owned subsidiary of the company, at its meeting held on 22nd July 2025, has approved, proposals to increase the Clinker Capacities by 3.6 MnT and Cement Capacity by 6.0 MnT at their Kadapa location. The existing cement capacity is 49.5 MnT having a capacity utilisation of 58% . 

• On implementation of this, DCBL and its subsidiaries will have a Cement Capacity of 61.5 MnT and Clinker Capacity of 34.3 MnT. This new addition will be added on or before Q2FY28 and the investment required for the same is Rs 3,287 crore which shall be done via debt and internal accruals.

• This addition will help DCBL to expand into the underserved markets of Northern Tamil Nadu, and to strengthen its presence in Andhra Pradesh and Southern Karnataka markets. 

Lodha Developers:

• According to media reports, existing investors are likely to sell 1% equity of Lodha Developers via block deal. The total block size is at $165 million with floor price set at Rs 1,384.6 per share indicating a 4% discount to Tuesday's closing price of Rs 1,443.10 per share. The deal is said to be a clean out trade. 

United Breweries:

• In Q1FY26, volume grew 11% despite last year's election impact, with premium portfolio growth of 46% led by Kingfisher Ultra, Amstel Grande, and Heineken® Silver. Gross profit rose 14%, with a 42.5% margin supporting a 10% EBIT rise and strong brand, supply chain, and organizational investments. Rs 136 crore was spent on capex, mainly for commercial and supply chain expansion. The Mangalore unit was closed as part of network optimization, with capacity consolidated at the Mysore brewery. The company remains bullish on future growth, backed by rising incomes, demographics, and premiumization trends. 

KEI Industries:

• KEI Industries reported strong performance in Q1FY26, with revenue rising 25.4% YoY to Rs 2,590 crore. The company’s EBITDA margin improved to 11.49%, while PAT margin increased to 7.56%. Institutional cable and wire sales saw significant growth—domestic sales rose 26.6% YoY, and exports surged 122%, driving total institutional sales up by 44.4%. Dealer and distribution sales also grew 22.2% YoY, supported by a robust network of 2,094 active dealers as of 30th June 2025. 

• The company’s order book stood at approx Rs 3,921 crore, and it maintained a strong financial position with a negative net debt of Rs 1,496 crore, reflecting healthy cash reserves.

Cyient DLM:

• In Q1FY26, the company reported consolidated revenue of Rs 278.4 crore, marking an 8% YoY growth, while EBITDA rose 25.3% YoY to Rs 25.1 crore, with margins expanding to 9%. However, PAT declined 29.6% YoY to Rs 7.5 crore due to lower other income and amortization of intangibles. 

• The order backlog surged to Rs 2131.8 crore, boosted by a record Rs 515.0 crore intake—the highest in the last 10 quarters. Nearly 50% of this new order intake is executable within FY26. Free cash flow stood strong at Rs 80.2 crore, marking the third consecutive quarter of positive cash generation.