Quote on Market Morning Inputs 03rd Sept 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 03rd Sept 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Benchmark indices witnessed profit booking at higher levels. Nifty closed 45 points lower, while Sensex was down 207 points. Across sectors, FMCG and defence indices rallied over 1 per cent, while select banking and financial stocks witnessed intraday profit booking.
Technically, after the intraday rally, the market faced resistance at 24,750/80,700 levels. Due to profit booking at higher levels, it declined sharply and fell over 200/700 points from the day's high.
We believe the intraday market remains volatile and directionless; hence, level-based trading would be the ideal strategy for day traders. On the lower side, 24,500/80,000 would act as a crucial support zone. Below this, the market could retest the levels of 24,400-24,450/79,700-80,000. On the upside, the 20-day SMA (Simple Moving Average) or 24,700/80,500 and 24,750/80,700 could act as key resistance levels for the bulls. A break of 24400/79700, we may see the market moving towards 24300/79400 to 24200/79100 levels.
The strategy should be to buy Nifty above 24620 with a stop loss at 24500. Resistance exists at 24750/24850.
For Bank Nifty, if it stays below 53500, then we may expect 53000 and 52800 levels. Expect mild bullishness above 54000 levels.
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