Morning Market Insights – 24 July 2026

Markets are expected to remain under pressure today after Brent crude surged back above the $100 mark, raising concerns over inflation and input costs. Higher crude prices are likely to keep pressure on sectors such as paints, aviation, chemicals and auto, while IT, Pharma and Banking have already witnessed heavy selling over the last two sessions, keeping overall market sentiment cautious. Technically, Nifty is approaching a crucial support zone of 23,600–23,650, where an unfilled gap is placed. This gap is expected to act as a strong demand zone. The index is now trading in a highly oversold territory on short-term charts, increasing the probability of a technical bounce if buyers emerge around these levels. On the upside, 24,000–24,050 will remain the immediate resistance zone. A sustained move above this range may trigger fresh buying momentum, while a decisive break below 23,600 could lead to further downside. Bank Nifty is also expected to witness selling pressure after yesterday's sharp decline. Immediate support is placed at 56,100–56,200, followed by the crucial 56,000 level. If 56,000 is breached, the next downside target could be around 55,700. On the upside, 57,100–57,200 remains the key resistance zone for today's trade. Major Q1 Results Today (24 July 2026) $SHRIRAMFIN Hindustan Zinc SBI Life Insurance Lodha Developers $JINDALSTEL REC Ltd Laurus Labs SAIL Bank of India SBI Cards & Payment Services Apar Industries Welspun Corp Dalmia Bharat