Tata Motor’s Jaguar Land Rover seeks £2 billion to absorb financial shocks- Daily Market Update 29th Sept 2025

Benchmark Nifty index settled the last trading session of the week on an extremely negative note at 24655 spot levels, down 1% from its previous closing values and 2.65% on weekly basis.

Broader markets underperformed the benchmark as Mid and Small cap indices were down over 2% each against 1% decline in the frontline index.

All sectoral indices, tracked at NSE, ended in red. Amongst them, IT, Pharma, Health Care and Consumer Durables were the worst performers, down over 2% each.

Overall chart structure is negative as long as Nifty is trading below 25000 spot levels on closing basis. Going ahead, sustenance below 24600 spot level might instigate fresh round of selling that could take it further south towards 24300 spot levels in near term. Hence, we suggest traders initiating fresh short positions on bounce around 24800-24850 spot levels.

Derivatives Overview & Outlook

Last Friday, all index futures moved lower on long unwinding as Nifty, Banknifty, Finnifty and Midcapnifty futures shed around 22%, 9%, 23% and 48% of open interest respectively.

On option front, call writing along with some put unwinding was seen at multiple strikes. Maximum positions are at 24500 PE and maximum call positions are at 25000 CE followed by 26000 CE.

Institutional Trading Activity

Last Friday, FIIs sold stocks worth Rs 5564 Cr in the cash segment, sold index futures worth Rs 3589 Cr also sold stocks futures worth Rs 1141 Cr. DIIs were net buyers in the cash segment to the tune of Rs 5599 Cr.

Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels

Nifty – Resistances 24820-24950; Supports 24600-24500

Banknifty – Resistances 54800-55000; Supports 54200-54000

Finnifty – Resistances 26120-26220; Supports 25900-25800

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