Index Update: The Nifty 50 slipped 0.70% to close at 24,542.50 on Tuesday but held above key moving averages, reflecting underlying market strength. The RSI eased to 50.64, indicating a slight dip in bullish momentum. However, a recent breakout above horizontal support keeps sentiment constructive. Despite minor pullbacks, the technical setup remains positive, pointing to potential short-term gains as the broader uptrend stays supported by resilient market confidence.

Macro Update: U.S. Commerce Secretary Howard Lutnick signaled a potential U.S.-India trade deal soon, citing strong negotiation progress. Speaking at a strategic forum, he emphasized mutual benefits, urged lower Indian tariffs, and called for reciprocal market access. Ongoing talks and India’s early engagement bolster hopes for a balanced, mutually beneficial agreement.

Top Market Movers: On Tuesday, Grasim Industries Ltd (NSE: GRASIM) led the gainers with a 1.12% increase, closing at INR 2,552.40 followed by Shriram Finance Ltd (NSE: SHRIRAMFIN) up 0.89% at INR 648.25, and Mahindra and Mahindra Ltd (NSE: M&M) which rose 0.68% to INR 3,04650. On the downside, Adani Ports and Special Economic Zone Ld (NSE: ADANIPORTS) saw the largest drop, falling 2.43% to INR 1,432.30 followed Adani Enterprises Ltd (NSE: ADANIENT) down 1.90% to INR 2,470.90 and Bajaj Finserv Ltd (NSE: BAJAJFINSV), which dropped 1.83% to INR 1,991.90.

Commodity Update: The dollar dropped to a six-week low Tuesday amid concerns over U.S. economic weakness tied to the ongoing trade war. Steel and aluminum tariffs will double to 50% Wednesday, the same day trade deal offers are due. Gold slipped 0.16% to $3,391.90, silver fell 1.30% to $34.24, and copper dipped 0.20% to $9,576.15. Brent crude rose 0.85% to $65.18 on supply fears linked to Iran and Canadian wildfires.

Our Stance: Market outlook stays cautiously optimistic with Nifty holding key support levels and positive signals from U.S.-India trade talks. Despite global uncertainties, including U.S. economic concerns and tariff escalations, the technical setup remains constructive. A selective, risk-aware strategy appears prudent amid potential near-term gains supported by underlying investor confidence.

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