Market Outlook: Technical Call Of The Day & Top 5 Stocks In Focus For 29th Jul 2025

Nifty index opened on a negative note and witnessed volatile swings in the first hour, as the index attempted to reclaim the 24900 zone. However, bears quickly took control and dragged the index lower for the rest of the session. Sustained selling pressure resulted in a decline of over 200 points from the day’s high. On the daily chart, it formed a bearish candle with a long upper shadow, highlighting the dominance of bears at higher levels and closed the session with losses of around 150 points.

The index is now forming a pattern of lower highs and lower lows for the last three sessions, indicating a short term downtrend. Now till it holds below 24800 zones, weakness could be seen towards 24550 then 24442 zones while resistances are seen shifting lower at 24800 then 25000 zones.

On option front, Maximum Call OI is at 24800 then 25000 strike while Maximum Put OI is at 24500 then 24700 strike. Call writing is seen at 24800 then 24700 strike while Put writing is seen at 24600 then 24650 strike. Option data suggests a broader trading range in between 24200 to 25200 zones while an immediate range between 24400 to 24900 levels.

 S&P BSE Sensex index opened on a negative note and witnessed sharp intraday fluctuations during the first hour of trade. While bulls made an early attempt to hold above the 81500 zone, bears quickly overpowered and dragged the index lower, hitting an intraday low near the 80800 mark. The index faced relentless selling pressure throughout the day, reflecting clear bearish dominance. On the daily chart, it formed a strong bearish candle with an elongated upper wick, indicating consistent rejection from higher levels and forming lower top lower bottom from last three sessions. Now till it holds below 81200 zones, weakness can be seen towards 80500 then 80200 zones while hurdles can be seen at 81200 then 81500 zones.

Bank Nifty index opened on a negative note near 56200 zones but witnessed good recovery from lower levels towards 56600 levels in the initial hour of the session. However it failed to hold at higher zones and gradually drifted lower towards 56000 levels at latter part of the session. It formed a small bearish candle on daily scale with long upper shadow as selling pressure is seen at higher zones. Now till it holds below 56250 zones some weakness could be seen towards 55750 then 55555 levels while on the upside hurdle is seen at 56250 then 56500 zones.

Nifty future closed negative with losses of 0.58% at 24706 levels. Positive setup seen in Cipla, Syngene, Laurus Labs, Amber, UPL, SBI Life, Paytm, PEL, Dr. Reddy, Sun pharma, and Torrent pharma while weakness in Reliance, Godrej properties, Oberoi Realty, DLF, IEX, Hindcopper, MCX, Bajaj Finance, IRCTC, RVNL and Indusind Bank.

GODFRYPHLP - 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. It has also taken support near its 40 EMA levels and managed to close above those levels indicating strong support and accumulation happening at lower levels. This is further supported by a positive super trend indicator and RSI nearing oversold position. 

BUY GODFRYPHLP CMP 8691.50 SL 8138.50 TGT 9150.00

Top stocks to watch out for 29th Jul

PCBL Chemical:

• The company has informed exchanges that it has incorporated a wholly owned subsidiary, PCBL Chemical USA Inc., under the laws of the State of Delaware, United States of America. The subsidiary in the USA will facilitate easier access to the North American markets. A local subsidiary in the USA would further help to gain strategic market access, proximity to customers and understand the regulatory and incentive landscape. The company enables localization of supply chains of carbon black and specialty chemicals which is of critical strategic significance. The Company’s US subsidiary would strengthen PCBL Chemical's position as a global player in the industry.

Cosmo First:

• Como First's Petcare division (Zigly), India’s first tech-enabled omni-channel pet care brand announced strategic acquisition of Dr. Santa Animal Healthcare, transforming it into Zigly’s new multi-speciality pet care centre in Whitefield, Bengaluru. This reinforces Zigly’s commitment to providing specialised and holistic pet care for pet parents across India. This acquisition is an important step forward in Cosmo First's expansion plans and makes Zigly more competitive in the premium pet care market.

Kinetic Engineering:

• Kinetic Engineering (KEL) announced its return to the 2-wheeler market with the launch of the all-new Kinetic DX EV, a made-in-India model range, through Kinetic Watts and Volts Ltd. (KWV), its dedicated EV manufacturing subsidiary. Admired across generations for its innovation, practicality, and iconic silhouette, the DX returns as an advanced electric scooter, blending timeless design with modern technology, true to the DX’s spirit. With bookings limited to just 35,000 units, deliveries begin in Sept’25. The Kinetic DX is priced at Rs 1,11,499 and the Kinetic DX+ is priced at Rs 1,17,499 (All prices, exshowroom, Pune). 

PNC Infratech:

• PNC Infra has emerged Ll (First Lowest) Bidder in a tender floated by South Eastern Coalfields Limited (SECL) for "Handling, Transport and Other Mining Services - Hiring of HEMM for OB Removal and Coal Extraction by Surface Miner and Loading and Transportation of Extracted Coal to different destinations at Gevra OCP Expansion Project in the state of Chhattisgarh" for a quoted amount of Rs 2,956 crore exclusive of GST. The said project is to be executed within 5 years. 

Omaxe Ltd.:

• Omaxe Group, one of India’s leading real estate developers, has secured funding of Rs 500 crore from funds managed by Oaktree Capital Management L.P. (“Oaktree), a Leader among global investment managers specializing in alternative investments. 

• The funding will strengthen Omaxe's core and accelerate delivery timelines for residential, commercial, and public-private partnership (PPP) developments, including its infrastructure, commercial, and residential projects. 

• It will also provide growth capital for company's ongoing projects across key markets such as New Chandigarh, Lucknow, Ludhiana, and Faridabad, along with flagship developments like Omaxe State in Dwarka, the upcoming integrated township in Amritsar, and a new township project in Indore, to name a few.