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Below the Quote on Market Morning Inputs 16 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Key indices rebounded sharply. Nifty closed 114 points higher, while Sensex was up 317 points. Sectorally, almost all major sectoral indices were trading in the positive zone, but the capital market index outperformed, gaining 2.10 per cent. Technically, after a sluggish start, the market bounced back sharply and formed a reversal pattern on both intraday and daily charts, which is positive.

For short-term traders, the key support zones are 25,150/82,400. Above these levels, the pullback pattern is likely to continue. On the upside, the 20-day SMA or 25,250/82,800 could act as a crucial hurdle for the bulls. If the market successfully crosses the 20-day SMA, it could move towards 25,350–25,500/83,000–83,500.

On the other hand, if the levels drop below 25,150/82,400, the market could retest the 50-day SMA at 25,000/82,000. The decline could continue further, possibly taking the market to 24,850–24,800/81,600–81,500.

Bank Nifty is trading in a range. The observation is that it is not participating in a downtrend, which is positive. Above 57100, it has scope to move towards the ultimate resistance level of 57500/57600. For the day, buy above 25250 with a stop loss at 25150. The momentum should increase above 25250, which may push the market to 25350 or 23500. Breaking 25150 could be negative in the short term as the Nifty may fall to 25000 or 24900.

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