Market Outlook: Technical Call of the Day & Top 5 Stocks in Focus for 8th Jul 2025

On July 7, the Nifty 50 closed flat, reflecting a cautious mood among investors ahead of the July 9 deadline for the 90-day pause on US-India reciprocal tariffs and the anticipated trade deal. The index traded within a narrow range, opening at 25,450, hitting a high of 25,490 and a low of 25,407, before closing at 25,461—up just 0.30 points. It formed a Doji-like candlestick pattern on the daily chart, indicating indecision in the market. The short-term trend remains choppy, but the overall uptrend is intact.

Key support for the index lies in the 25,300–25,350 zone, aligning with a rising trendline and the 78.6% Fibonacci retracement level of the previous move from 26,277 to 21,744. If this zone is breached, 25,200, marked by the 20-day EMA, becomes the next support. On the upside, resistance is seen around 25,500–25,600, with 25,700 as the next major hurdle. 

On the options front, the highest Call open interest at the 26,000 level, while the highest Put open interest lies at 25,000, followed by 25,300 and 25,400. Strong Call writing was seen at 25,600, and strong Put writing at 25,300.

The Bank Nifty also witnessed a volatile session, ending 83 points lower at 56,949 and forming a Doji pattern. Support is expected around 56,600, with resistance at 57,500. Despite the sideways movement, the broader market trend remains positive, and any dip could be considered a buying opportunity.

India VIX rose slightly by 1.99% to 12.56, remaining supportive of bullish sentiment. Sector-wise, FMCG gained 1.6%, oil & gas rose 0.4%, while media declined 1%, and both IT and metal sectors dropped 0.7% each.

DBREALTY - TECHNICAL CALL OF THE DAY

The stock is in a clear uptrend from the lows made in March 2025 as it trades above all its key moving averages on daily charts. It is facing a strong resistance around 240-244 levels and once it crosses those levels, the stock is expected to break out and trade at even higher levels. A positive RSI divergence is visible along with a positive super trend indicator reflecting bullish implications. 

BUY DBREALTY CMP 235.38 SL 224.54 TGT 246.80

Top stocks to watch out for 8th Jul

Krsnaa:

• The Government of Rajasthan has issued a new letter of acceptance (LoA) which has been received by the company where Krsna Diagnostics and its consortium partner, Telecommunications Consultants India Ltd for providing laboratory services under the Free Diagnostics Initiative on HUB and SPOKE Model under NHM across the state of Rajasthan.

Refex Industries:

• Refex Industries has procured an order for comprehensive ash disposal along with operation & maintenance of fly ash systems from a prominent GENCO for a tenure of 3 years amounting to Rs 250 crore. The significant terms of the order includes scope of supply and services with respect to O&M of the existing Ash Handling System & Spares management; Utilization/Lifting of fly ash on daily basis;  Utilization/Lifting of pond ash & hydrobin ash on daily basis.

Macrotech Developers:

• In Q1FY26, the company recorded pre-sales of Rs 44.5bn (up 10% YoY) and collections of Rs 28.8bn (up 7% YoY), despite early-quarter disruptions. Five new projects with a GDV of Rs 227bn were added, covering over 90% of FY26 guidance. Net debt remained controlled at Rs 50.8bn, staying well below the 0.5x Net Debt/Equity threshold. 

Kotak Mahindra Bank:

• Kotak Mahindra Bank has released its Q1FY26 operational update. The details are as follows; The Bank reported a 14.6% YoY growth in end-of-period (EOP) total deposits to Rs 5.13 lakh crore and a 14% YoY rise in net advances to Rs 4.45 lakh crore. Average CASA deposits grew 4.2% YoY, while total average deposits rose 12.9% YoY. 

JSW Infra:

• JSW Infras received a Letter of Award from the Syama Prasad Mookerjee Port Authority for the reconstruction of Berth 8 and mechanization of Berths 7 and 8 at Netaji Subhas Dock, Kolkata. The project, awarded on a Design, Build, Finance, Operate, and Transfer (DBFOT) basis under the PPP model, is aimed at enhancing container handling capacity at the port. 

• With an estimated capex of Rs 740 crore and a construction timeline of two years, the company will also be able to commence operations during the construction phase, leveraging Kolkata City’s steady cargo volumes. Post‐completion, the project is expected to significantly enhance both capacity and operational efficiency.