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Below the Quote on Closing Market Summary 02nd September 2025 by Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking Private Limited

Indian equity markets ended the session on a negative note on September 02, as the indices opened on a flat note and witnessed strong buying at the start of the session, which lifted them higher initially. However, the momentum could not sustain, and the markets slipped from higher levels to close below the 24,600 mark. The Sensex declined 206.60 points, or 0.26%, to settle at 80,157.89, while the Nifty fell 45.45 points, or 0.18%, to close at 24,579.60. Market breadth remained weak, with 1,597 stocks advancing against 960 declining, reflecting selling pressure at higher levels.

The Nifty index opened on a flat note and witnessed strong buying at the start of the session, making an intraday high above 24,750. However, the index failed to sustain the gains and faced rejection near its short-term (20-day) EMA on the daily chart, triggering selling pressure from higher levels. Eventually, the index slipped lower and ended the session below the 24,600 mark. On the daily chart, a bearish-bodied candle with an upper wick has formed, indicating selling pressure from the highs. On the downside, immediate support is placed at 24,500, followed by 24,400. A breach below these levels could extend the selling pressure. On the upside, 24,700 remains the immediate hurdle, followed by the 24,800–25,000 zone. A decisive break above this zone would be necessary to pause the ongoing downtrend and open the door for fresh buying opportunities. Among the Nifty 50 constituents, the top gainers were Power Grid, Tata Consumer, Nestle India, NTPC, and Tata Steel, while the top losers included M&M, Dr. Reddy’s, Kotak Bank, ICICI Bank, and Asian Paints.

The Bank Nifty opened on a flat note, with early buying interest pushing the index above the 54,150 mark. However, it failed to sustain at higher levels, as selling pressure dragged the index lower, marking an intraday low below 53,600 near its long-term (200-day) EMA. Some recovery was witnessed from these zones, but the index still ended the session weak. On the daily chart, a strong bearish candle has formed, reflecting clear selling pressure from higher levels. On the downside, immediate support is placed at 53,500, followed by a stronger support zone near 53,000. On the upside, 54,000 will act as an immediate resistance, followed by a key hurdle at 54,500. A decisive move above these resistance levels would be essential to signal stability and open the door for a potential reversal.

India VIX rose by 0.95% to 11.4000, indicating a slight uptick in volatility and suggesting some caution among traders. On the derivatives front, the maximum Call Open Interest (OI) is placed at the 24,700 strike, followed by the 24,800 strike, marking these levels as key resistance zones. On the Put side, the highest OI is seen at the 24,500 strike, followed by the 24,400 strike, which are likely to act as strong support levels. This OI setup indicates that the 24,500–24,700 range will be crucial for Nifty’s near-term movement, with a decisive break on either side expected to drive the next trend.

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