📊 Market Outlook | 17 July 2026

RELIANCE

WIPRO

📊 Market Outlook | 17 July 2026 Indian markets are expected to open flat to slightly positive, with GIFT Nifty indicating a marginally higher start. However, sentiment is likely to remain cautious as investors await earnings from index heavyweights including Reliance Industries, HDFC Bank, and ICICI Bank, which could determine the market's next directional move. 🔹 Key Factors to Watch 📈 GIFT Nifty signals a mildly positive opening. 🏦 Q1 earnings from Reliance, HDFC Bank & ICICI Bank will be the biggest trigger. 🌍 Middle East tensions continue to keep crude oil elevated, adding volatility. 💰 FIIs remained net sellers in the previous session, while DIIs provided buying support. 💻 IT stocks may remain under pressure after weaker-than-expected Wipro results, though selective buying could emerge in quality names. 📌 Technical View Support: 24,000 – 23,950 Resistance: 24,200 – 24,350 Nifty continues to trade in a consolidation range. A sustained move above 24,200 could trigger fresh upside momentum, while a break below 24,000 may invite profit booking. 🎯 Strategy for Traders Focus on stock-specific opportunities during earnings season. Avoid aggressive leveraged positions before major results. Buy on dips in fundamentally strong stocks if support levels hold. Keep a close watch on banking, energy, and IT sectors. Overall Bias: 🟢 Cautiously Positive – Expect a range-bound session with volatility around earnings announcements.