Quote on Market Morning Inputs 06th Aug July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 06th Aug July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Benchmark indices witnessed selling pressure at higher levels. Nifty closed 73 points lower, while Sensex was down 308 points. Across sectors, intraday buying was witnessed in select defence stocks, while capital market indices were the biggest losers, falling over 1 per cent.
Technically, after the morning sell-off, the market witnessed limited activity throughout the day. We believe the market is currently exhibiting directionless activity, and traders are likely waiting for a move in either direction.
For day traders, the levels of 24,750/81,000 would act as crucial resistance zones. Above these levels, the downside could continue till 24,800-24,900/81,400-81,600. On the downside, 24,550/80,500 would act as key support zones. Below these levels, the market may fall further to 24,450-24,350/80,300-80000. Given the current non-directional movement of the market, level-based trading would be the ideal strategy for day traders.
Bank Nifty is expected to extend in the range to 55100 and 55500.
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