Powered by: Motilal Oswal
2025-07-02 09:10:40 am | Source: Kotak Securities Ltd
Quote on Market Morning Inputs 02 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Quote on Market Morning Inputs 02 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Below the Quote on Market Morning Inputs 02 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

 

The market witnessed sluggish activity on Tuesday. Nifty closed 25 points higher, while Sensex was up 91 points. Among sectors, PSU bank and defence stocks witnessed intraday buying, while the media index fell the most, down 1.35 per cent. Technically, after a muted start, the market hovered between 24,500/83,600 and 24,600/83,900 price ranges throughout the day. A small candlestick formation on the daily chart and non-directional intraday activity on the intraday chart indicate indecision between bulls and bears.

We believe the current market texture is non-directional; perhaps traders are waiting for a breakout on either side. For bulls, the immediate breakout zones are 25,600/83,900. A successful breakout above these levels could push the market towards 25,700–25,750 / 84,200–84,400. On the other hand, a dismissal of 25,470/83,500 could accelerate the selling pressure. Below these levels, the market could retest 25,375–25,300 / 83,200–83,000.
For Bank Nifty, expect a range bound activity between 57100 and 57650.  On the dismissal of 57100, it can again retest the level of 56900 or 56700 levels.  Above 57650, expect further bullishness.
For the day, the strategy should be to buy Nifty if it crosses 25600 with a stop loss at 25500. On the other hand, below 25470, create a short position with a stop loss at 25600.

 

 

Above views are of the author and not of the website kindly read disclaimer

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here