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Below the Quote on Market Morning Inputs 11th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Last week, the benchmark indices continued to witness profit booking at higher levels. Nifty closed 0.82 per cent lower, while Sensex was down 742 points. Among sectors, the media and PSU bank indices outperformed, with the PSU bank index rising 1.40 per cent and the media index rising 0.85 per cent, while the pharma index was the biggest loser, shedding over 2.77 per cent.

Technically, on the daily and intraday charts, the market remains at a lower level and has also formed a bearish candle on the weekly chart, which is largely negative. We believe the short-term market structure is weak but oversold. For traders, as long as the market is trading below 24,450/80000, weak sentiment is likely to continue. On the downside, the correction wave is likely to continue towards 24,150 - 24,000/79400-78800. On the upside, if the market sustains above 24,450/80000, a pullback rally is possible. If it sustains above this level, it may bounce back to 24,650-24700/80800-81000. The uptrend may continue further, taking the market to 24800-24835/81300-81500.

For Bank Nifty, the situation is weak in the short term, but a new sell-off is possible only if it falls below 54,700. In such a case, it may fall to 54,000-53700. On the other hand, if it moves above 55,300, it may go up to 55700-56000.

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