Quote on Market Morning Inputs 18th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 18th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
In the last truncated week, the benchmark indices witnessed a pullback rally. The Nifty ended up by 1.1 per cent, whereas the Sensex gained 748 points. Among sectors, almost all the major sectoral indices traded in positive territory, but the Pharma and Healthcare indices outperformed, both rallied over 3 percent. Meanwhile, profit booking was seen in selective FMCG and Consumer stocks.
Technically, on daily and intraday charts, the market has formed largely positive reversal patterns. Additionally, a bullish candle was formed on the weekly charts, indicating the continuation of the pullback in the near future. While considering the news flow, we may see the market opening around 24800 or 24950, where the market is having an ultimate resistance zone.
We believe that 24,450/80000 would act as a key support zone for short-term traders. As long as the market trades above this level, the bullish sentiment is likely to continue. On the higher side, 24,800/81200 would be the immediate resistance zone for the bulls. A successful breakout above 24,800/81200 could push the market towards 24,900-25,000/81500-81800.
The Ideal strategy should be to reduce weak long positions between 24900 and 25000 (spot) levels. For traders, our advice is to trail stop loss to 24600 for holding positional long bets. A close above 25000 would lift the market towards 25250/25300 levels.
For Bank Nifty, after a long correction, it is witnessing range-bound activity. On the upside, above 55,650, it could rally towards the 20-day Simple Moving Average (SMA), around 56,000 and 56,100. On the downside, below 55,350, selling pressure is likely to accelerate. If that level is breached, the index could slip towards 54,900-54,500.
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