Gift Nifty signals weak start; 8 stocks to watch on Tuesday

Gift Nifty points to a muted opening

Indian equity markets are likely to start Tuesday's session on a weak note. Gift Nifty, which trades on the NSE International Exchange, was seen at lower levels during Monday evening trading. This suggests the benchmark Nifty 50 may open with a negative bias.

Traders are bracing for a cautious start. The weakness in Gift Nifty often reflects early sentiment before domestic markets begin trading. Analysts attribute this to a mix of global cues and profit booking at higher levels.

Eight stocks for Tuesday's trading session

Market experts have recommended eight stocks for day trading on 21 July. These picks are based on technical patterns and short-term momentum. Traders are advised to keep a close watch on these counters during the session.

The list includes stocks from sectors such as banking, IT, and pharmaceuticals. Each pick comes with specific entry and exit levels. Analysts have also suggested strict stop-losses to manage risk in a volatile market.

Technical outlook remains mixed

The broader market may see choppy movements in early trade. Support for the Nifty is seen near the 24,500 level, while resistance is placed around 24,800. A break on either side could set the tone for the rest of the day.

Bank Nifty, which has been volatile in recent sessions, is also expected to remain in a range. Traders are watching the 52,000 mark for directional cues. The index has been consolidating after a sharp rally last week.

Global cues weigh on sentiment

Asian markets were trading mixed in early hours on Tuesday. US stock futures also showed little change after a weak close on Wall Street. Concerns over interest rate decisions and corporate earnings continue to influence global risk appetite.

Foreign portfolio investors have been net sellers in Indian equities over the past few sessions. Domestic institutional investors, however, have provided support through consistent buying. The tug-of-war between these two groups is likely to keep markets on edge.

What to watch next

Traders will closely track the opening levels of Gift Nifty and the first hour of domestic trade. Any sharp move in either direction could trigger a broader trend for the day. The market's ability to hold key support levels will be crucial for short-term traders.