Quote on Market Morning Inputs 08 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 08 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Key indices witnessed range-bound activity. Nifty closed 7 points down, while Sensex ended 10 points up. Among sectors, the FMCG index outperformed, gaining 1.73 per cent, while media and defence indices declined over 1 per cent.
Technically, after a quiet start, the market hovered between 25,400/83250 to 25,475/83400 throughout the day. A small candle on the daily chart and non-directional activity on the intraday chart indicate indecision between the bulls and bears.
We believe 25,500/83500 would act as an immediate breakout zone for traders. Above this level, the market could rise towards 25,600/83700–25,670/84000. On the other side, below 25,400/83250, we may see a quick intraday correction towards 25,300/83000. Further weakness may continue, potentially dragging the market towards 25,225/82800. The current market pattern is non-directional; hence, level-based trading would be the ideal strategy for day traders.For Bank Nifty, the 20-day SMA (Simple Moving Average) at 56,500 is a crucial level to watch out for. Below this, Bank Nifty could drop to 56,200-56,000. On the other hand, above 57,200, the outlook for reaching 57,500-57,800 remains bright.
For the day, above 25500, create a long position with a stop loss at 25400. The momentum should increase above 25600, which may pull the market to 25670 or 25800. A close below 25370 would be negative.
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