The Nifty broke its four-day losing streak on Tuesday, offering some relief to the bulls after a series of weak IT earnings. Interestingly, a rebound in IT stocks played a key role in helping the index recover from its early losses.
Although the Nifty briefly tested the 25,250 level during the session, it struggled to hold above it. For the bulls, the bigger challenge now lies in sustaining a move beyond that mark. However, cues from Wall Street remain negative, with rising inflation concerns, underwhelming bank earnings, and ongoing tariff uncertainties weighing on sentiment.
Looking ahead to today's session, the immediate resistance is Tuesday's high of 25,245, while the 25,000 level—Monday's low—acts as a critical psychological support. Notably, the index hasn’t closed or traded below the 25,000 mark since June 24.
Earnings continue to drive market sentiment, with Tech Mahindra, Angel One, ITC Hotels, and L&T Tech scheduled to report their results today. Additionally, stocks like HDB Financial, ICICI Lombard, and HDFC Life will be reacting to earnings announced post-market hours on Tuesday.
