Nifty, Sensex likely to see further consolidation, pharma in focus; key levels to watch on July 9
HomeNewsBusinessMarketsNifty, Sensex likely to see further consolidation, pharma in focus; key levels to watch on July 9 Trending TopicsSensex TodaySynergy Green SharesBajel Projects Share PriceStocks to Watch 9th JulyPharma Stocks Nifty, Sensex likely to see further consolidation, pharma in focus; key levels to watch on July 9The pharma sector will be in focus on July 9, after Donald Trump said that he would make an announcement on pharmaceuticals tariffs soon. Moneycontrol News July 09, 2025 / 07:58 IST
Nifty and Sensex are likely to extend their range-bound movement on July 9.
Dalal Street likely to see another sideways session, with the benchmark indices Nifty 50 and Sensex constricted to a tight range on Wednesday, July 9, as investors choose to wait for fresh triggers before taking new positions.
At 7.50 a.m., the GIFT Nifty index is trading with mild losses of 10 points or 0.04 percent at 25,593.
In the previous session, the mainlines saw a spurt in the last hour of trade, after seeing more rangebound trade through the day, following optimism on a mini trade deal between India and U.S. However, Donald Trump has also said that Washington D.C. would soon make an announcement on pharmaceuticals, broadening the slate of sector-specific levies to around 200 percent.
Foreign Portfolio Investors (FPIs) net sold Rs 26 crore in Indian equities while domestic institutional investors (DIIs) net bought Rs 1,367 crore, according to provisional data on NSE.
Check out the key levels to watch in trade on July 9
On the daily chart, a strong bullish candle has been formed, indicating a potential continuation of the upward momentum. For the uptrend to sustain, the index needs to move decisively above the immediate resistance of 25,600, with a stronger hurdle placed near the 25,800 level.
"On the downside, immediate support is seen at 25,500, followed by 25,400, while a stronger support zone lies near the 25,300 mark," said Hardik Matalia, Derivative Analyst, Choice Broking.
Meanwhile, India VIX declined by 2.91% to 12.1950, indicating reduced market volatility and reflecting a relatively stable sentiment among traders. In the derivatives segment, open interest (OI) data showed the highest Call OI at the 25,600 strike, followed by 25,700, suggesting a potential resistance zone. On the Put side, the highest OI was seen at the 25,500 strike, followed by 25,400, indicating strong support levels. This OI setup suggests that the 25,400–25,600 zone will be crucial for Nifty's next directional move.
Follow our market blog to catch all the live updates
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News first published: Jul 9, 2025 07:58 am
Discover the latest Business News, Budget 2025 News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Trending news Bengaluru woman slams MakeMyTrip, Quick Ride after breaking leg in cab crash: 'Gross negligence'
- Nithin Kamath calls out dark patterns in finance apps: Zerodha avoided these practices from day 1
- Sabeer Bhatia slams Kangana Ranaut for 'no staff, no funds' remarks at Mandi: 'Why hold office then?'
- Founder regrets moving back to India: 'I was a stupid patriotic person. Just move to Dubai or Singapore'
- Rishi Sunak appointed senior adviser at Goldman Sachs, sparks meme fest over 70-hour workweek
Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347
Comments
0 comment