Pre-Market Outlook – 07.05.2026
Nifty Holds Firm, Bottom in Play – The benchmark index displayed notable resilience in yesterday’s session, holding key support zones and absorbing selling pressure effectively, which indicates the emergence of a near term bottoming structure. Despite intermittent volatility, the index managed to stabilise, reflecting improving market sentiment and selective buying interest at lower levels.
Thank you for reading this post, don't forget to subscribe!A flat opening is likely, despite firm global cues. The index may attempt to retest the April 22 low of 24,352, provided it holds 24,135. Once it sustains above the 24352 level in hourly time frames, room for moving towards 24500 could arise.
Traders dopt a Buy-on-Dips approach.
However, from a positional perspective, the bullish shift needs confirmation by sustaining above the April 22 high and low for two sessions; failing which, a sharp retracement may follow.
Sectoral Focus
Bank, Finance, Realty, Auto, Pharma, Telecom.
Stocks To Watch
Bajaj Auto, Biocon, KPIT Technologies, Godrej Consumer Products, PB Fintech, Kansai Nerolac, One 97 Communications.
Quarterly Earnings
BSE, Britannia Industries, Bajaj Holdings, Lupin, Pidilite Industries, Bharat Forge, Escorts Kubota, Dabur India, Biocon, Thermax, Coromandel Internationa, MRF, Karur Vysya Bank, Indraprastha Gas, ACME Solar.
Strictly adhere to stoploss levels.
Wishing everyone a great day!
