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Below the Quote on Market Morning Inputs 24th June 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Technically, our market opened with a gap down on the backdrop of weak global sentiment. However, after an early intraday correction in the morning, the market took support near the 20-day SMA (Simple Moving Average) and reversed sharply. On the daily chart, it has formed an Inside Body candle, which indicates indecision between the bulls and the bears. We believe the market is currently witnessing range-bound activity, and the intraday setup suggests that non-directional activity is likely to continue soon.

On the downside, 24,800/81500-24,700/81000 would act as key support zones for the bulls, while 25,250/82700-25,350/83000 would be crucial resistance zones. However, below 24,700/81000, the uptrend may weaken.

For Bank Nifty, a higher lower support is placed at 55,700. Above this, it can bounce back towards 57000-57350. Conversely, if it slips below 55,700, it can decline towards the 50-day SMA or 55,000 and 54,800 levels.

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