Quote on Market Morning Inputs 18th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 18th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Benchmark indices witnessed profit booking at higher levels. Nifty closed 101 points lower, while Sensex was down 375 points. Among sectors, the Realty index was the top gainer, gaining 1.23 per cent, while the IT index was the top loser, shedding 1.50 per cent. Technically, after a quiet opening, the market is continuously facing selling pressure at higher levels. The Nifty/Sensex has formed a bearish candle on the daily chart and a lower top formation on the intraday chart, indicating a largely negative trend. We believe that as long as the market is trading below 25,255/82,700, the weak sentiment is likely to continue. On the downside, the 50-day SMA (Simple Moving Average) at 25,000/82,000 would be the immediate support level. Below 25,000/82,000, a move towards 24,900-24,850/81,600-81,500 would increase the chances.
On the upside, a successful breakout above 25,255/82,700 could move the market towards 25,350-25,425/83,000-83,300.
Bank Nifty is trading in a range and by closing below 57100 it has lost momentum. Above 57100, it has scope to move towards the ultimate resistance level of 57500/57600. It has support at 56500 and at 56300. 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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