Quote on Market Morning Inputs 29th August 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 29th August 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Benchmark indices continued to face selling pressure at higher levels. Nifty closed 211 points lower, while Sensex was down 713 points. Across sectors, capital market indices declined the most, shedding over 2 per cent, while despite weak market sentiment, some buying was seen in select consumer stocks.
Technically, after a sluggish opening, the market corrected sharply lower. On the daily chart, it has formed a bearish candle, while on the intraday chart, it has formed a lower top, which is largely negative.
We believe the short-term market scenario is weak, but since it is oversold, a sharp rebound from current levels cannot be ruled out. For day traders, 24,700/80900 will be a crucial level; as long as the market remains below this, weak sentiment is likely to continue. On the downside, the market could decline to 24,300/79700. On the other hand, if the market moves above 24,700/80900, the decline can extend towards 24,800/81300.
The strategy should be to sell around 24650-24700 with a stop loss at 24800. Or buying at 24350-24300 with a stop loss at 24250.
For Bank Nifty, the short-term trend is expected to remain weak; Below 54000, it could decline to 53600-53,200. Above 54000, it could rise to 54200 or 54300
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