Quote on Market Morning Inputs 28th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 28th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
In the last week, the benchmark indices continued their weak momentum. The Nifty ended 0.53 percent lower, while the Sensex declined by 294 points. Among sectors, the Media and Reality indices corrected sharply; Media shed 5.88%, and Reality was down by 5.14%. However, some buying interest was observed in select healthcare and Digital stocks. During the week, the market once again faced resistance near 25,250/83000 and reversed sharply.
Technically, on weekly charts, it has formed a bearish candle, and on daily charts, it is holding a lower top formation, which is largely negative. Additionally, it breached the 50-day SMA (Simple Moving Average), a crucial support zone, and is currently trading comfortably below it. We believe that as long as the market remains below 25,000/82200, weak sentiment is likely to continue. On the downside, the correction wave may extend to 24,700-24,750/81300-81500.
On the upside, a move above 25,000/82200 could change the sentiment. A bounce-back is likely to continue until 25,250/83000 or the 20-day SMA.
For Bank Nifty, the short-term outlook is weak, but a fresh sell-off is possible only if it falls below the 50-day SMA at 56,300. Below this level, it could slip to 56,100-55,500. Conversely, if it moves above the 20-day SMA at 57,000, it could rally to 57,500-57,800.
For today, it is advisable to take a long position if Nifty bounces and forms a reversal formation from 24750-24700 with a stop-loss of 24700. Above 25000, it has scope to rise to 25100 and 25150 levels. Closing below 24700 will have negative consequences.
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Sensex, Nifty trade lower, IT stocks continue to lose
