Firm Start On Dalal Street, Nifty Holds Above 25,100; Eternal Surges 12% On Q1 Beat

Analysts suggest a move above 25,240 may confirm a near-term bullish trend.

Indian equity markets opened on a positive note, with the Nifty index gaining ground above 25,100. 

At 09:40 a.m. IST, the Nifty 50 traded 26 points higher at 25,116, while the Sensex was up 145 points at 82,345. Broader markets were mixed, with the Nifty Midcap index declining 0.1% and the Smallcap index gaining 0.3%.

Meanwhile, the retail sentiment on Stocktwits for Nifty remained ‘bearish’.

Sectorally, it’s a mixed bag, with pharma, real estate, and auto indices under pressure. On the other hand, media, metals, oil & gas saw some gains.

Eternal is the top Nifty gainer, surging 12%, driven by improving operational performance in its June quarter earnings, which led to brokerages such as Goldman Sachs, Bernstein and Citi upgrading their target price.

PNB Housing rose 2% after it reported a 23.3% rise in profit in Q1FY26 to ₹533.5 crore. Other earnings movers include Oberoi Realty (-1%), Parag Milk (-1%), Dhanlaxmi Bank (+2%).  

Titan rose 0.6% as its subsidiary is set to acquire a 67% stake in Damas LLC (UAE), valuing the company at AED 1,038 million.

Afcons Infrastructure rose 2% after it was declared lowest bidder for a ₹6,800 crore Croatian railway line project by HZ Infrastructure. Arisinfra Solutions gained 2% on securing a ₹340 crore supply order from Transcon Group. BL Kashyap shares rose 3% on a ₹910 crore contract win from BPTP.

360 ONE WAM shares fell 5% following a large block deal. 

Watch out for Paytm, M&M Financial, Colgate-Palmolive, Dixon Technologies, JSW Infrastructure, Schloss Bangalore (Leela Hotels), Zee Entertainment, among others, as they report quarterly earnings today. 

From a technical standpoint, SEBI-registered analysts on Stocktwits shared the trade setup. 

Ashish Kyal said that on a 15-minute closing basis, a move above 25,120 would push the index to 25,200, followed by the 25,240 levels. Long positions were initiated near 25,020, and traders are advised to use a trailing stop at 24,980 while continuing to ride the trend. He added that Tuesday’s session marks a crucial juncture and a potential starting point for an upward rally. Nut, if the Nifty falls below 24,980, this outlook will need to be reassessed. As long as this level is maintained, the recommendation is to hold positions.

Prabhat Mittal pegged Nifty support at 24,980 and resistance at 25,220. For the Bank Nifty, he sees support at 56,700 and resistance at 57,300.

A&Y Market Research identified intraday Nifty resistance between 25,308 - 25,322, and support at 25,009 - 25,075. For Bank Nifty, they peg resistance at 57,028 - 57,071 and support at 56,467 - 56,510.

Globally, Asian markets traded broadly higher, while crude oil prices slipped on concerns over a global oil supply glut.  

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