Several Nifty 50 stocks posted notable gains during Friday's trading session, with pharmaceutical major Dr Reddy's Labs leading the pack. The stock demonstrated strong momentum alongside consumer goods and paint sector companies.

Market Performance Highlights

Dr Reddy's Labs emerged as the top gainer with a 1.66% increase, reaching ₹1,237.70. Hindustan Unilever (HUL) followed closely with a 1.34% gain, trading at ₹2,422.60. Asian Paints also showed robust performance, rising 1.15% to ₹2,735.00.

Tech Mahindra recorded a 1% increase to ₹1,704.20, while Titan Company saw a more modest gain of 0.79%, trading at ₹4,050.40.

Financial Performance Overview

The annual financial results for March 2025 revealed mixed performance across these companies. Hindustan Unilever demonstrated consistent growth with revenue increasing to ₹63,121 crores from ₹61,896 crores in March 2024. The company's net profit rose to ₹10,679 crores from ₹10,286 crores, while earnings per share improved from ₹43.74 to ₹45.32.

Tech Mahindra showed strong recovery with revenue growing to ₹52,988 crores from ₹51,995 crores, and net profit surging to ₹4,244 crores from ₹2,386 crores. The company's EPS jumped significantly from ₹26.66 to ₹48.00.

Dividend Announcements and Corporate Actions

Recent dividend declarations highlight these companies' commitment to shareholder returns. Hindustan Unilever announced an interim dividend of ₹19 per share on October 23, 2025, effective November 7, 2025, following a final dividend of ₹24 per share announced in April 2025.

Asian Paints declared an interim dividend of ₹4.50 per share on October 3, 2025, with an effective date of November 18, 2025. The company had earlier announced a final dividend of ₹20.55 per share in May 2025.

Tech Mahindra announced an interim dividend of ₹15 per share on October 14, 2025, effective October 20, 2025, along with a final dividend of ₹30 per share announced in April 2025. Titan Company declared a final dividend of ₹11 per share in May 2025.

These market movements and financial performances provide investors with insights into the current positioning and growth trajectories of these major Nifty 50 constituents.

Market experts present cautious optimism for Indian equity indices following recent rebounds, with specific technical levels identified for both Nifty 50 and Bank Nifty. On January 22, the Nifty 50 surged 132 points (0.53%) to close at 25,290, while Bank Nifty rallied 400 points (0.68%) to 59,200. Market breadth improved significantly, with approximately 2,176 shares advancing against 740 declining shares on the NSE.

Nifty 50 Technical Analysis and Strategy

Technical analysts highlight that despite the rebound, Nifty 50 faces continued selling pressure at higher levels. The index requires a decisive close above 25,300 to trigger further upward momentum toward the 25,450-25,500 target zone.

Dhupesh Dhameja from Samco Securities notes that while the index held above the crucial 200-day EMA and the 25,000 psychological mark, it failed to sustain above the previous day's high. The structure remains weak with repeated rejections near resistance levels, making the 25,500-25,600 zone a significant hurdle.

Jay Mehta from JM Financial Services observes that Nifty broke down from a 650-point range (25,700-26,350) in recent sessions, correcting 5.51% from all-time highs before finding support near 24,900. The latest session showed a spinning top formation above the 200-day EMA.

Bank Nifty Outlook and Key Levels

Bank Nifty demonstrates similar technical patterns with specific resistance and support zones identified by market experts.

Analysts suggest that Bank Nifty has been consolidating within a 46-session range of 58,800-60,450. The index retains better relative strength compared to Nifty, trading below the 20-day EMA but finding repeated support at the 50-day EMA.

Market Sentiment and Volatility Indicators

Market volatility showed signs of easing with India VIX declining 3.12% to 13.35, indicating reduced fear among market participants. Derivatives data reveals heavy Call writing at the 25,400 strike and significant Put writing at the 25,200 strike, making this zone a crucial near-term pivot.

Expert Trading Strategies

Market professionals recommend specific trading approaches based on current technical setups:

Nifty 50 Strategies:

• Bear Call Spread: Sell 25,200 CE at ₹228, buy 25,400 CE at ₹105 for January 27 expiry
• Long Accumulation: Gradual buying with stop-loss at 24,850
• Futures Trading: Buy on dips near 25,150 level targeting 25,450

Bank Nifty Approaches:

• Short Positions: Initiate shorts on pullback rallies around 59,550-59,600 zone
• Long Accumulation: Gradual buying until close below 58,500
• Futures Strategy: Buy on dips near 59,000 level targeting 59,600

Experts emphasize maintaining disciplined risk management with strict stop-losses and waiting for decisive breakouts above resistance levels before initiating fresh directional positions. The overall market structure suggests cautious optimism with specific technical levels serving as key decision points for traders.