Indian Markets Slip From 6-Month Highs: SEBI RA Ashish Kyal Flags Buying Opportunity If Nifty Nears 24,750

Analyst Ashish Kyal flagged bullish reversal signals in Nifty, urging traders to watch 24,728–24,750 for fresh long entries.

Indian equity benchmarks opened lower on Tuesday, despite firm global cues, after closing at six-month highs in the previous session on the back of easing border tensions with Pakistan. 

Investors remained cautious ahead of the April retail inflation data due later in the day, while mixed earnings kept sentiment in check.

By 9:45 a.m. IST, the Nifty 50 had dropped 175 points to 24,749, while the Sensex was down 616 points at 81,813. 

The broader markets, however, showed resilience, with the Nifty Midcap index trading 0.5% higher.

Meanwhile, retail sentiment on Stocktwits for the Nifty 50 flipped to ‘neutral’ from 'bearish' a day ago.

Sector-wise, technology, private banking, and auto stocks led the decline, while pharma stocks staged a relief rally. 

Dr. Reddy's gained 3% and Sun Pharma rose 2% after U.S. President Donald Trump’s executive order on drug pricing was seen as less stringent than anticipated.

In stock-specific action, Swiggy shares tumbled up to 5% as its post-IPO lock-in period expired, freeing up 189.8 crore shares for trade. 

JM Financial surged 6% on positive earnings momentum, while UPL sank 5% after issuing a muted FY26 growth forecast.

KFin Technologies fell 4% following reports of a block deal by General Atlantic, while Paytm slid 2% after Antfin reportedly offloaded a 4% stake worth ₹2,066 crore.

IIFL jumped 6% after HSBC upgraded the stock with a target price of ₹550 (42% upside), citing improved microfinance traction and better system liquidity.

Investors will monitor Tata Steel, Cipla, Bharti Airtel, Hero Moto, GAIL as they report quarterly numbers later in the day. 

SEBI-registered advisors shared the day's trade setup on Stocktwits.

On the technical front, Ashish Kyal highlighted a powerful bullish reversal candle in Nifty that fully retraced the previous five sessions' decline. 

He sees this as a signal of a resumed uptrend and recommends buying dips near 24,728–24,750, with 24,600 as a key stop-loss. As long as the Nifty sustains above this support, the technical setup favors further upside, with immediate targets set at 25,030 or even higher.

A&Y Market Research pegged intraday Nifty resistance between 25,187 and 25,238 with support at 24,746-24,811.

For the Bank Nifty, resistance is seen at 55,443-55,557 with support at 54,334-54,470.

Asian markets traded mixed and U.S. stock futures were seen lower ahead of key economic data releases globally.

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