Quote on Market Morning Inputs 29th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 29th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
The benchmark indices continued to face selling pressure at higher levels. The Nifty ended 156 points lower, while the Sensex was down by 572 points. Among sectors, the Realty index suffered the most, shedding nearly 4.29 per cent, while some buying interest was observed in select pharmaceutical and FMCG stocks.
Technically, a bearish candle on daily charts and a lower top formation on intraday charts indicate further weakness from the current levels. We are of the view that as long as the market is trading below 24,800/81100, the weak sentiment is likely to continue. On the downside, the market may correct until 24,550–24,500/80500-80350. On the upside, a break above 24,800/81100 could lead to a pullback rally extending up to 24,900/81400. Further upside may also continue, potentially pushing the market up to 25,000/81700.
For Bank Nifty, the short-term outlook is still weak, a close below 56100 is negative and based on it we may see the index heading towards, 55500 with a major support at 55700. Above 56100, the chances of hitting 56350 would turn bright.
For today, it is advisable to take a long position if Nifty bounces and forms a reversal formation from 24500-24550 levels with a stop-loss of 24450. Around 24900-25000, it may find severe resistance.
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