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Below the Quote on Market Morning Inputs 01st Sept 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Last week, the benchmark indices witnessed high selling pressure. The Nifty fell 1.8 per cent, while the Sensex fell 1500 points. Across sectors, the capital market indices fell the most, falling 7.5 per cent, while buying was seen in select FMCG stocks, which led the FMCG index to rise 0.67 per cent. Technically, on the weekly chart, it has formed a long bearish candle and also formed a lower top formation, which is largely negative.

We believe that the short-term outlook for the market remains weak, but further weakness is possible if the 24,330/79700 level is breached. On the other hand, above 24,550/80500, the pullback rally can continue towards the 20-day SMA (simple moving average) or 24,700/81000.

On the downside, if the market falls below 24,330/79,700, it can drop to the 200-day SMA or around 24,070/78,900, with a major support level at 24,200. As the markets have been over-retraced in the short term, our strategy should be to take a contra view for trading with an intraday view. Create buy between 24300 and 24250 levels with a stop loss at 24200. Resistance exists at 24450 and 24550.   

For Bank Nifty, if it stays above 53,500, a pullback movement to 54,500–55,000 is likely to continue. On the other hand, if it falls below 53,500, it can fall to the 200-day SMA or around 53,000–52,800.