Quote on Market Morning Inputs 19 June 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd
Below the Quote on Market Morning Inputs 19 June 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd
Benchmark indices witnessed profit booking at 24900/81850. Nifty ended in the negative territory while Sensex closed with a loss of 140 points. Among sectors, the Consumer Durables index was the top gainer, gaining 0.90 per cent, while Nifty Media and Capital Markets index declined around 1% each.
Technically, Nifty/Sensex has formed an indecisive pattern at equilibrium levels on the daily chart, indicating temporary weakness. We believe that as long as the market is trading below 24,800/81400, weak sentiment is likely to continue. On the downside, 24,725/81250 will be the immediate support zones for traders. Below this, the market may slip towards 24,500/80600. On the other hand, above 24,900/81850, the sentiment may change. If it moves above this level, it can move up to 25,000-25,150/82100-82600.
The strategy should be to take a long trade if it Nifty crosses 25000. Keep a stop loss at 24800 for the same. On the higher side, expect further weakness below 24700, however, in that case we need to keep a stop loss at 24900 for the same. However, a close below 24700 would be negative in the short term.
For Bank Nifty, it may consolidate between 56100 and 55100 before heading towards 57000. Buying is advisable around 55000-55200 with a stop at 54800.
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