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Below the Quote on Market Morning Inputs 17th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

The benchmark indices experienced a range-bound movement, with the Nifty closing higher by 16 points and the Sensex by 64 points. Among sectors, the PSU Bank index outperformed, gaining over 1.70 per cent, while metal and defence stocks witnessed selective profit booking. Technically, a small candle on the daily chart and limited intraday activity indicate indecision among the bulls and bears.

We believe 25,100/82,300 will remain a key support zone for traders. As long as the market remains above this level, the bullish trend is likely to persist. On the upside, the market could bounce back to the 20-day SMA (simple moving average) or 25,350/83,200. Further upside could even take the market to 25,500/83,800.

Conversely, below 25,100/82,300, the trend may change. If the market moves below this level, it may fall towards the 50-day SMA or the 25,000-24,900/82,000-81,700 zone.

Bank Nifty is trading in a range but is gaining strength. 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 25255 with a stop loss at 25100.  The move past 25255 should increase the momentum towards 25350 and later 25500.  Breaking 25100 could be negative in the short term as the Nifty may fall to 25000 or 24900

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