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Below the Quote on Market Morning Inputs 09 June 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities  

In the last week, the benchmark indices experienced a promising rally. The Nifty closed 1 percent higher, while the Sensex increased by 737 points. Most major sector indices ended in positive territory, with the Capital Markets and Realty indices leading the way, as Capital Markets surged by 9 percent and Realty by 9.6 percent.

During the week, the market found support near 24,500 and rebounded sharply. Technically, it has formed a double bottom reversal pattern on the daily charts and is currently trading comfortably above the 20-day Simple Moving Average (SMA), which is generally a positive sign. Additionally, a long bullish candle appeared on the weekly charts, reinforcing the potential for further upward movement from current levels.

We believe that the 20-day SMA, around 24,800, would act as a trend-deciding level. As long as the market stays above this level, the bullish trend is likely to continue, with 25,150 serving as the immediate resistance zone for short-term traders. A successful breakout above 25,150 could propel the market up to the range of 25,400 to 25,650. Conversely, if the market falls below 24,800, sentiment could shift, leading the market to retest the 24,500 level with a major support at 24600.

The strategy should be to take a long trade if it falls back to 24850. Keep a stop loss at 2600 for the same. On the higher side, expect short covering above 25150, however, a close above 25150 could lead to rally towards 25650 levels.