MARKET STRATEGY

July 10th, 2025

Indian Market Change (%) Trading Strategy:
Last Close 1 day YTD
Sensex 83536 (0.21) 6.9 Short Term (Time period: 2-3 days): Buy Data
Pattern at 3010-3025. Stop Loss: 2970. Target:
Nifty 25476 (0.18) 7.7
3110. The stock has given a flag pattern breakout
Nifty Bank 57214 (0.1) 12.5

Nifty Midcap 50 16753 (0.1) 4.9 Short Term (Time period: 2-3 days): Buy
Nifty Smallcap 50 9193 0.6 2.9 Ultracemco at 12520-12562. Stop Loss: 12350.
Source NSE, BSE Target: 12820. The stock has given a flag pattern
breakout
Developed Markets Change(%)
Last Close 1 day YTD Short Term (Time period: 2-3 days): Buy ICICIpruli
Dow Jones 44458 0.49 4.87
at 675-680. stop loss: 668; Target: 700. The stock
Nasdaq 100 22864 0.72 9.01
has given a rounding bottom breakout.
S&P 500 6263 0.61 6.73

Hang Seng 23892 (1.1) 19.1 Technical View: Nifty is likely to find support at
Nikkei 225 39,821 0.3 (0.2)
around 25300 while 25660 is likely to act as the
Source: Tradingview resistance level. Bank Nifty is likely to find support
at around 56900 while 57550 is likely to act as
Institutional Activity (`cr) resistance level on the upside.
Cash 1 year

FII 77 -3,24,053
Asian stocks ended mixed on Wednesday after U.S.
President Donald Trump expanded his trade war
DII 921 6,76,039 with steep new tariffs targeting copper,
*Provisional Figures
semiconductors and pharmaceuticals. Gold
Source NSE, IIFL Research

Advance/Decline stocks No. (NSE) declined below $3,300 per ounce due to a robust
dollar, while oil edged up in choppy trading. At 7.50
09-07-25 08-07-25
AM IST, CSI 300 index was up by 4.71 points the
Adv 1131 1043 Nikkei 225 was down by 239.29 points and the Hang
Dec 1175 1263 Seng index was up by 11.77 points.
Source NSE, IIFL Research

27000
NIFTY
26000
25000
24000
23000
22000
21000
20000
29-Jun-24

29-Sep-24
29-Jul-24

30-Apr-25
29-Aug-24

29-Oct-24

28-Feb-25
29-Jan-25
29-Nov-24
29-May-24

29-Dec-24

31-Mar-25

Close
Source NSE, IIFL Research
 PIVOTS AND DEALS

% Fut OI in Monthly ATM Max CE Max PE

Index Spot Future Chg Basis lakhs OI Chg PCR OI IV Buildup Buildup

Nifty 25476 25559 -0.21% 83 134.57 0.86% 1.19 10.79 26000 25000

BankNifty 57213 57384 -0.12% 171 17.81 1.31% 0.96 11.98 58000 56000

Source: NSE, IIFL Research

OI Gainers-July Expiry Derivative Snippets

OI
OI Price Nifty/Bank Nifty Weekly expiry update:
Underline Chg Price Action
(lakhs) Chg (%)
(%)
Long  On the options front (10 July 2025 expiry) In
Kfin tech 10.66 18.27 1309.6 2.52
Builtup Nifty, 25600 call options have seen an increase
Long
Kaynes 6.36 13.27 6150.5 2.06 in writing positions. Thus, we expect the index to
Builtup
Short trade with a negative bias.
Hind. Copper 389.52 12.32 265.5 -3.58
Builtup  Nifty Monthly PCR stood at 1.19x.
Source NSE, IIFL Research

OI Losers- July Expiry  FII’s index future long short ratio stood at 0.38x.
OI OI Chg Price  FIIs were net buyers in the cash market segment
Underline Price Action
(lakhs) (%) Chg (%)
Container 171.6 Short to the tune of Rs 77 crores.
-8.76 616.65 2.66
Corporation 2 covering
110.2 Short FII Long-Short Activity
Delhivery -8.55 418.95 2.30
6 covering % Chg
Long-
Short Index OI % Chg Short
Since Exp
Mankind 9.04 -7.92 2526.1 3.68 Ratio
covering
Source NSE, IIFL Research
Future Index Long 47 (1) (14) 0.38
Nifty Weekly Active Strikes
OI Future Index Short 123 4 37
Price change OI in
Strike Price Price Change Option Index Call
(%) Lakhs 358 8 13
(%) Long 1.0
25500CE 54.9 -50 2.31 111 Option Index Call
343 16 42
Short
25600CE 24.45 -61 1.75 77 Option Index Put 443 1 21 1.4
Long
25700CE 11.25 -66 1.31 33 Option Index Put 307 1 6
Short
25500PE 66.95 -2 1.39 27 Source NSE, IIFL Research

FII Vs Retail index Long-Short ratio

25400PE 28.1 -24 1.38 -1
Source NSE, IIFL Research 1.6
FII Retail Clients
Cash and carry arbitrage
1.4
Spot Futures Basis 1.2
Underline Basis Action
Price Price (%)
1.0
Solar 16486. 107.0 Buy cash and
16593.00 0.65% 0.8
Industries 00 0 Sell future
0.6
5130.0 Buy cash and
HDFC AMC 5162.50 32.50 0.63%
0 Sell future 0.4
Dalmia 2175.8 Buy cash and 0.2
2189.50 13.70 0.63%
Bharat 0 Sell future
Source NSE, IIFL Research
0.0
L/S Fut L/S CE Options L/S PE Option
Source NSE, IIFL Research
 PIVOTS AND DEALS
CMP Suppor Resistan 50- 200- CMP Suppor Resistan 50- 200-
Company Company
(Rs) t* ce* DMA DMA (Rs) t* ce* DMA DMA
AARTIIND 458 455 461 458 456 CIPLA 1492 1485 1500 1503 1504
ABBOTINDIA 34390 34060 34660 30949 29619 COALINDIA 387 384 389 395 409
ABCAPITAL 273 271 276 224 202 COFORGE 1931 1916 1953 5714 7187
ABFRL 79 78 80 166 250 COLPAL 2439 2425 2460 2526 2776
ACC 1991 1978 2001 1903 2063 CONCOR 615 601 623 734 764
ADANIENT 2583 2565 2605 2473 2536 COROMANDEL 2302 2234 2341 2323 1936
ADANIPORTS 1443 1436 1453 1365 1275 CROMPTON 343 341 345 344 371
ALKEM 4805 4783 4834 5030 5296 CUB 218 215 221 191 175
ARE&M 978 966 986 1002 1127 CUMMINSIND 3524 3484 3560 3089 3215
AMBUJACEM 590 588 595 553 549 DABUR 522 514 527 479 519
APLLTD 986 976 1003 941 994 DALBHARAT 2176 2148 2196 2039 1882
APOLLOHOSP 7469 7422 7542 6990 6917 DEEPAKNTR 1981 1974 1989 1983 2314
APOLLOTYRE 474 469 478 469 472 DELTACORP 88 88 90 91 104
ASHOKLEY 251 250 252 234 224 DIVISLAB 6984 6933 7022 6384 5983
ASIANPAINT 2499 2483 2525 2322 2490 DIXON 15710 15541 15869 15355 15193
ASTRAL 1493 1478 1507 1437 1572 DLF 830 822 841 764 775
ATUL 7571 7477 7687 6917 6859 DRREDDY 1269 1262 1281 1248 2096
AUBANK 826 819 830 718 638 EICHERMOT 5695 5670 5719 5471 5121
AUROPHARMA 1143 1130 1160 1174 1241 ESCORTS 3378 3365 3395 3334 3424
AXISBANK 1165 1159 1171 1200 1128 EXIDEIND 388 385 390 382 407
BAJAJ-AUTO 8361 8322 8388 8381 9044 FEDERALBNK 214 213 215 202 196
BAJAJFINSV 2026 2013 2039 2021 1846 FSL 367 364 370 367 352
BAJFINANCE 941 928 950 7493 7286 GAIL 185 182 190 190 191
BALKRISIND 2621 2609 2633 2556 2710 GLENMARK 1819 1797 1837 1498 1545
BALRAMCHIN 602 593 607 578 554 GMRAIRPORT 93 92 94 86 82
BANDHANBNK 178 176 179 171 167 GNFC 550 546 556 520 562
BANKBARODA 241 240 242 241 236 GODREJCP 1294 1275 1311 1239 1205
BATAINDIA 1265 1246 1276 1225 1310 GODREJPROP 2255 2239 2278 2247 2473
BEL 418 415 422 363 309 GRANULES 480 476 485 496 535
BERGEPAINT 585 581 590 559 525 GRASIM 2798 2784 2821 2697 2605
BHARATFORG 1262 1252 1279 1224 1269 GSPL 332 329 334 329 344
BHARTIARTL 2020 1999 2041 1867 1714 GUJGASLTD 478 473 483 463 484
BHEL 262 258 266 245 234 HAL 5007 4979 5050 4788 4300
BIOCON 374 369 379 338 348 HAVELLS 1524 1511 1537 1568 1639
BOSCHLTD 35800 35345 36175 30928 32052 HCLTECH 1674 1659 1702 1637 1732
BPCL 349 345 354 314 300 HDFCAMC 5141 5085 5185 4741 4330
BRITANNIA 5882 5830 5917 5523 5313 HDFCBANK 2011 2002 2017 1938 1795
BSOFT 429 427 433 411 499 HDFCLIFE 786 781 795 752 691
CANBK 114 113 114 107 100 HEROMOTOCO 4333 4301 4355 4160 4410
CANFINHOME 823 816 828 757 754 HINDALCO 674 661 689 645 653
CHAMBLFERT 555 551 558 613 546 HINDCOPPER 265 256 278 238 257
CHOLAFIN 1563 1531 1583 1583 1432
HINDPETRO 445 441 453 400 384
 PIVOTS AND DEALS
CMP Suppor Resistan 50- 200- CMP Suppor Resistan 50- 200-
Company Company
(Rs) t* ce* DMA DMA (Rs) t* ce* DMA DMA
HINDUNILVR 2423 2400 2443 2348 2431 MPHASIS 2864 2838 2882 2555 2740
HONAUT 40510 40175 40920 37012 40185 15071 14584 13750 12620
MRF 153743
5 3 4 0
ICICIBANK 1432 1426 1438 1433 1320
MUTHOOTFIN 2646 2626 2663 2301 2165
ICICIGI 2020 2006 2036 1890 1897
NAM-INDIA 801 786 814 715 668
ICICIPRULI 680 666 689 624 649
NATIONALUM 186 184 189 176 198
IDEA 7 7 7 7 8
NAUKRI 1447 1433 1461 2801 6279
IDFCFIRSTB 77 77 78 69 66
NAVINFLUOR 5110 4954 5193 4451 3907
IEX 208 201 213 194 184
NBCC 115 114 116 112 105
IGL 222 220 227 203 311
NESTLEIND 2428 2416 2438 2392 2327
INDHOTEL 750 740 757 775 766
NMDC 68 67 69 69 124
INDIACEM 348 346 351 321 328
NTPC 344 343 345 342 356
INDIAMART 2588 2563 2610 2375 2376
OBEROIRLTY 1831 1817 1854 1755 1843
INDIGO 5852 5807 5880 5436 4791
OFSS 8939 8889 9009 8752 9917
INDUSINDBK 841 835 851 816 976
ONGC 243 242 245 245 253
INDUSTOWER 405 403 409 393 366
PAGEIND 48590 48232 49057 46272 44926
INFY 1634 1626 1640 1557 1752
PEL 1162 1154 1172 1086 1057
IOC 150 149 153 142 140
PERSISTENT 5724 5689 5781 5642 5690
IPCALAB 1456 1443 1466 1399 1478
PETRONET 306 303 308 309 317
IRCTC 786 781 795 770 790
PFC 418 415 421 412 434
ITC 419 417 421 426 447
PFIZER 5669 5617 5706 5041 4976
JINDALSTEL 945 930 956 927 921
PIDILITIND 3048 3025 3077 3033 3003
JKCEMENT 6393 6296 6455 5452 4842
PIIND 4168 4132 4199 3828 3884
JSWSTEEL 1040 1032 1050 1004 982
PNB 111 110 112 103 101
JUBLFOOD 683 679 689 689 670
POLYCAB 6716 6659 6785 5930 6258
KOTAKBANK 2229 2218 2238 2135 1947
POWERGRID 300 297 301 299 304
LTF 209 208 211 179 159
PVRINOX 1002 976 1019 977 1202
LALPATHLAB 2964 2910 3005 2827 2901
RAIN 146 144 148 145 153
LAURUSLABS 794 780 803 630 575
RAMCOCEM 1102 1071 1123 996 932
LICHSGFIN 604 601 607 603 597
RBLBANK 261 253 265 211 185
LT 3580 3564 3600 3532 3515
RECLTD 392 390 395 409 462
LTIM 5330 5284 5382 4994 5510
RELIANCE 1519 1502 1543 1415 1556
LTTS 4314 4284 4348 4363 4861
SAIL 134 132 136 124 119
LUPIN 1914 1892 1951 2004 2079
SBICARD 935 924 942 929 812
M&M 3176 3149 3197 3032 2949
SBILIFE 1815 1802 1824 1763 1613
M&MFIN 270 269 272 265 277 SBIN 811 809 813 799 789
MANAPPURAM 262 257 268 243 206 SHREECEM 31615 31285 31810 30090 27715
MARICO 730 724 735 710 667 SIEMENS 3218 3187 3277 3123 5365
MARUTI 12470 12420 12530 12411 12014 SRF 3281 3263 3296 3003 2678
MCX 8442 8378 8540 6843 6222 SHRIRAMFIN 681 674 686 660 1653
METROPOLIS 2058 1913 2157 1690 1879 SUNPHARMA 1669 1651 1684 1718 1765
MFSL 1564 1554 1573 1428 1225 SUNTV 570 562 582 626 675
MGL 1489 1477 1508 1368 1406 SYNGENE 639 634 643 648 767
 PIVOTS AND DEALS
CMP Suppor Resistan 50- 200- Bulk Deals
Company
(Rs) t* ce* DMA DMA Qty Avg
Scrip B/
TATACHEM 922 918 928 883 963 Date Institution (`00 price
name S
0) (`)
TATACOMM 1761 1746 1774 1640 1701
EASTSPRING
TATACONSUM 1098 1091 1106 1126 1044 AKZO INVESTMENTS INDIA
9-Jul B 250 3651.0
TATAMOTORS 693 689 696 692 753 INDIA CONSUMER EQUITY
OPEN LIMITED
TATAPOWER 401 398 405 395 398 ABAKKUS ASSET
CRIZA 367
TATASTEEL 159 157 161 152 147 9-Jul MANAGER PRIVATE B 298.3
C 3
LIMITED
TCS 3384 3363 3410 3456 3864 SAM
SMALLCAP WORLD 173
TECHM 1615 1606 1630 1571 1615 9-Jul MAA S 122.6
FUND INC 34
NCAP
TITAN 3432 3415 3456 3494 3392 Source NSE, IIFL Research

TORNTPHARM 3354 3321 3373 3229 3259

TORNTPOWER 1427 1412 1437 1450 1541
TRENT 5408 5371 5475 5543 6154
TVSMOTOR 2840 2819 2853 2772 2577
UBL 1969 1949 1986 2066 2020
ULTRACEMCO 12562 12432 12636 11605 11401
UNITDSPR 1371 1364 1377 1532 1484
UPL 665 661 672 649 602
VEDL 441 420 461 437 450
VOLTAS 1367 1358 1379 1270 1514
WHIRLPOOL 1348 1323 1378 1269 1543
WIPRO 268 265 270 251 352
ZEEL 142 140 145 125 121
ZYDUSLIFE 978 971 984 919 958
Source NSE, IIFL Research
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Key to our recommendation structure

BUY - Stock expected to give a return 10%+ more than average return on a debt instrument over a 1-year horizon.

SELL - Stock expected to give a return 10%+ below the average return on a debt instrument over a 1-year horizon.

Add - Stock expected to give a return 0-10% over the average return on a debt instrument over a 1-year horizon.

Reduce - Stock expected to give a return 0-10% below the average return on a debt instrument over a 1-year horizon.

Price Target: Unless otherwise stated in the text of this report, target prices in this report are based on either a discounted cash flow valuation or comparison of valuation ratios with companies seen
by the analyst as comparable or a combination of the two methods. The result of this fundamental valuation is adjusted to reflect the analyst’s views on the likely course of investor sentiment.
Whichever valuation method is used there is a significant risk that the target price will not be achieved within the expected timeframe. Risk factors include unforeseen changes in competitive pressures
or in the level of demand for the company’s products. Such demand variations may result from changes in technology, in the overall level of economic activity or, in some cases, in fashion. Valuations
may also be affected by changes in taxation, in exchange rates and, in certain industries, in regulations. Investment in overseas markets and instruments such as ADRs can result in increased risk from
factors such as exchange rates, exchange controls, taxation, and political and social conditions. This discussion of valuation methods and risk factors is not compr ehensive – further information is
available upon request.

i. Investments in securities market are subject to market risks. Read all the related documents carefully before
investing.
ii. Mutual Funds Investments are subject to market risk. Please read the offer and scheme related documents
carefully before investing.
iii. Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way
guarantee performance of the intermediary or provide any assurance of returns to investors