Quote on Market Morning Inputs 04 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 04 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Key indices witnessed a volatile session. Nifty closed 48 points lower, while Sensex was down 170 points. Among sectors, Capital Markets and Media indices gained around 1.5 per cent, while India Tourism and PSU Banks stocks witnessed intraday profit booking.
Technically, after an early morning intraday rally, the market faced resistance near 25,600/83,800 and reversed sharply. From the day's high levels, the market declined over 200/600 points. A bearish candle on the daily chart and a lower top formation on the intraday chart suggest further weakness from the current levels. However, the short-term market outlook remains positive.
For day traders, 25,500/83,500 are crucial levels to watch. As long as the market trades below these levels, the weak sentiment is likely to continue. On the downside, the market can slip towards 25,300-25,200/83,000-82,700, if it breaks the level of 25370. On the upside, above 25,500/83,500, we can see an intraday bounce towards 25,600/83,800. A successful breakout of the 25,600/83,800 resistance zone can push the market towards 25,670/84,000.
For Bank Nifty, gradually heading towards, 56500/56200. It is failing to sustain at higher level which is negative. Our strategy should be to create short position if it bounces back to 57000 with a stop loss at 57200.
For the day, below 25370, create a short position with a stop loss at 25500. Any bounce back towards 25500-25550 will be an opportunity to reduce weak long positions. Fresh long positions traders can take only above 25600 levels.
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