Nifty 50 Expiry Day Analysis: Range-Bound or Breakout? Key Stocks, Global Cues, and Trump Tariff Angle

Get detailed expiry analysis for Nifty 50, with live levels, top stock setups, PCR insights, and the effect of Trump’s tariffs on India. Includes technical charts and closing data from global markets.


Nifty 50 Market Summary 

  • Index: Nifty 50

  • Current Level: 25,476.10

  • Change: ▼46.40 points | -0.18%

Today marks the weekly expiry for Nifty 50, and the index has opened with a mild downside bias despite a strong overnight close in US equities. After opening slightly in the red, the market is showing signs of consolidation amid mixed global cues.

Let’s decode what lies ahead for the day, based on:

  • Current technical levels and expected range

  • Top-weighted stocks’ performance

  • Option chain and PCR data

  • Global cues, including Trump’s tariff policy

  • Broader sentiment across Asian and US markets

 Indin Market Closing– July 9, 2025

IndexLevelChange% Change
Nifty 5025,476.10▼46.40-0.18%
Sensex83,536.08▼176.43-0.21%
Nifty Bank57,213.55▼42.75-0.07%
Nifty Midcap 5016,753.15▼22.95-0.14%
Nifty Smallcap 10019,007.40▲112.20+0.59%
Nifty IT38,680.85▲302.45+0.78%

IT and small caps are leading, hinting at selective risk-taking in broader markets despite flat indices.


US Market Closing – July 9, 2025

  • Dow Jones: 44,458.30 ▲ 217.54 pts (0.49%)

  • NASDAQ: 20,611.34 ▲ 192.88 pts (0.94%)

  • S&P 500: 6,263.26 ▲ 37.74 pts (0.61%)

All three major US indices ended higher, led by tech optimism and continued investor confidence in AI and semiconductor sectors.


 Asian Market Opening – July 10, 2025

  • Nikkei: ▼203.90 (0.51%)

  • Hang Seng: Flat

  • KOSPI: ▲0.74%

  • Taiwan Index: ▲0.03%

  • Straits Times: ▲0.28%

  • Shanghai: ▼0.06%

Asia started on a mixed note, reacting cautiously to the momentum in U.S. equities. There’s little follow-through buying seen, and Japan’s correction weighed on sentiment.


 Gift Nifty Today's Opening Cues

  • Gift Nifty: 25,571.00 ▲12.20 points (0.05%)

A flattish start suggests the market may be range-bound unless strong institutional flows or sector-specific triggers emerge.


 Nifty 50 Expiry Range and Strategy

🔸 Technical Range for Today:

  • Resistance Zone: 25,520 – 25,620

  • Support Zone: 25,400 – 25,300

  • Expected Range25,350–25,600

  • Bias: Consolidation with mild downside risk

🔸 PCR (Put-Call Ratio):

  • At 0.85, suggesting a neutral to slightly bearish setup.

  • No aggressive short buildup; long unwinding and sectoral pressure are dragging the index.


 Top Nifty 50 Heavyweight Stocks and Price Action (As of 7:56 AM)

🔹 1. HDFC Bank (₹2011.20, ▲0.49%)

  • Weightage: 13.19%

  • Trend: Mild Bullish Reversal

  • Support: ₹1975 – ₹1990

  • Resistance: ₹2030 – ₹2045

  • RSI (14D): ~56 (strengthening)

  • MACD: Positive crossover forming

  • View: HDFC Bank is showing a rebound from key support. Sustaining above ₹2045 could open room for ₹2075. Heavyweight positioning could aid index support.


🔹 2. ICICI Bank (₹1431.90, ▼0.70%)

  • Weightage: 8.91%

  • Trend: Weak with Possible Base Formation

  • Support: ₹1415 – ₹1420

  • Resistance: ₹1455 – ₹1470

  • RSI (14D): ~44 (weak zone)

  • MACD: Bearish crossover, negative histogram

  • View: ICICI Bank is under pressure. A breach below ₹1415 could trigger fresh shorts. However, this is also a long-term support zone, so watch for reversal signals.


🔹 3. Reliance Industries (₹1519.00, ▼1.21%)

  • Weightage: 8.79%

  • Trend: Bearish Breakdown

  • Support: ₹1500 – ₹1510

  • Resistance: ₹1545 – ₹1560

  • RSI (14D): ~39 (approaching oversold)

  • MACD: Strong negative divergence

  • View: Reliance is dragging the index. It’s near psychological support of ₹1500. Any breach can lead to another 2–3% downside. Defensive traders should stay cautious.


🔹 4. Infosys (₹1633.70, ▼0.31%)

  • Weightage: 4.99%

  • Trend: Neutral to Slightly Bearish

  • Support: ₹1610 – ₹1620

  • Resistance: ₹1660 – ₹1675

  • RSI (14D): ~46

  • MACD: Flat, weak signal

  • View: Infosys is consolidating in a narrow band. Range-bound action likely till earnings. IT sentiment weakens due to HCL Tech’s drag.


🔹 5. Bharti Airtel (₹2019.70, ▼0.51%)

  • Weightage: 4.74%

  • Trend: Pullback from Overbought

  • Support: ₹1985 – ₹2000

  • Resistance: ₹2050 – ₹2080

  • RSI (14D): ~51 (neutral)

  • MACD: Slightly negative bias

  • View: Short-term correction after strong uptrend. Holding above ₹2000 is key to resume upside. Watch volume activity near the ₹1985 zone.


🔹 6. Larsen & Toubro (L&T) (₹3579.70, ▼0.74%)

  • Weightage: 3.73%

  • Trend: Mildly Bearish

  • Support: ₹3525 – ₹3550

  • Resistance: ₹3640 – ₹3675

  • RSI (14D): ~45 (cooling off)

  • MACD: Bearish

  • View: L&T is under consolidation post a strong run. If ₹3550 breaks, a deeper retracement is possible. Infrastructure names may remain weak short term.


🔹 7. ITC (₹419.45, ▲0.54%)

  • Weightage: 3.35%

  • Trend: Reversal from Lows

  • Support: ₹410 – ₹414

  • Resistance: ₹423 – ₹428

  • RSI (14D): ~54 (recovering)

  • MACD: Positive slope starting

  • View: ITC is recovering from recent weakness. It may act as a defensive play if market volatility rises. Good candidate for intraday support to Nifty.


🔹 8. TCS (₹3383.80, ▼0.66%)

  • Weightage: 3.06%

  • Trend: Mildly Bearish

  • Support: ₹3350 – ₹3365

  • Resistance: ₹3420 – ₹3455

  • RSI (14D): ~47 (flat)

  • MACD: Slightly negative crossover

  • View: TCS is also showing weakness similar to Infosys. Until ₹3450 is reclaimed, selling on the rise may continue. Watch for pre-earnings positioning next week.


 Summary Table

StockTrendKey SupportKey ResistanceRSI Status
HDFC BankBullish Reversal1975–19902030–2045Positive (56)
ICICI BankWeak1415–14201455–1470Bearish (44)
RelianceBearish1500–15101545–1560Oversold (39)
InfosysNeutral1610–16201660–1675Weak (46)
AirtelPullback1985–20002050–2080Neutral (51)
L&TBearish Bias3525–35503640–3675Cooling (45)
ITCReversal410–414423–428Positive (54)
TCSMildly Bearish3350–33653420–3455Flat (47)

Short Covering & Option Chain Insight
  • Strikes 25,500 and 25,600 hold the highest call OI, acting as strong resistance.

  • On the downside, 25,300 is seeing some put writing, indicating it as a likely expiry support.

  • No aggressive short buildup in calls; any positive surprise in late hours could trigger short covering toward 25,550+.


 Trump’s 10% Tariff Threat: Is India at Risk?

Former U.S. President Donald Trump has stated that if elected again, he would impose a 10% tariff on all BRICS countries, including India. While markets haven't reacted dramatically, here's the potential impact:

 Short-Term Implications:

  • IT and Pharma could stay resilient due to high US demand.

  • Auto & Textiles exporters may feel the heat.

  • Market sentiment may remain cautious until clarity emerges.

 Long-Term View:

India’s diversified trade strategy and growing domestic demand can insulate it from major shocks. The market seems to have priced in political volatility for now.


 Conclusion: What to Watch Today

 Bullish Triggers:

  • US Tech strength → supportive of Nifty IT

  • Buying in Bajaj Finance, M&M, HUL

  • PCR neutral, room for upside if short covering kicks in

 Bearish Risks:

  • Global volatility from Asia

  • Weakness in banks (Axis, SBI)

  • No clear sectoral leadership


 Expiry Possibility Grid

ScenarioProbabilityNifty Reaction
Flat Close near 25,500HighOption writers win
Short Covering toward 25,600+MediumTriggered by IT & HUL
Breakdown below 25,300LowFresh shorts may emerge

 Author’s Note

Markets are more than numbers—they reflect narratives, psychology, and geopolitics. Today’s expiry isn’t just about option levels; it’s about which sectors want to lead. Despite global uncertainties, Indian markets have shown resilience.

As someone deeply passionate about financial literacy, I believe in interpreting market movements as stories—each candle, each breakout, each reversal speaks to investor emotion. Today, stay alert to these stories. Let the charts talk, but don’t ignore the headlines.

Trade light. Think big. Observe more than react.


Awdhesh Kumar 
Founder, The Financial & Tech Literacy
www.financialtechguide.com

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