Sensex, Nifty set for subdued start to the week; key levels to track on July 7

Here are the key levels to watch out for in today's session

The Nifty index saw a recovery in the latter half of Friday’s session, rebounding from around the 25,330 mark to close in the green near 25,450. The improving bias suggests potential for further upside in the coming sessions. Key support remains in the 25,250–25,300 zone, while a sustained move higher could open the door to targets of 25,700 and 26,200.

"Bank Nifty also staged a strong intraday rebound from around 56,600 to end near 57,000, with sentiment turning more positive. The trend remains bullish, and as long as the 56,000 support holds, a breakout above 57,600 could pave the way for fresh upside towards 58,500 and 60,000. For the day, Nifty has support at 25,300 and resistance at 25,600, while Bank Nifty is expected to trade in a range of 56,500–57,600," Vaishali Parekh of Prabhudas Lilladher said.

The India VIX, which measures expected market volatility, declined for the fourth consecutive session and hit a fresh nine-month low, consistently favouring the bulls. It was down 0.57 percent, closing at 12.32 — the lowest level since October 1, 2024.

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, dropped to 0.93 on July 4, compared to 0.99 in the previous session. The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market.

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.