Quote on Market Morning Inputs 30th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs 30th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Benchmark indices rebounded sharply. Nifty closed 140 points higher, while Sensex was up 447 points. Sectorally, almost all major sectoral indices traded in the positive zone, with pharma, healthcare and infra indices outperforming and gaining over 1 per cent each.
Technically, after a sluggish start, the market found support around 24,600/80,600 and bounced back sharply. From the day's lowest level, the market rallied over 240/850 points. The formation of an intraday reversal after a long correction, as well as a bullish candle on the daily chart, suggests further upside from current levels.
We believe 24,600/80,600 would act as key support zones for day traders. Pullbacks are likely to continue as long as the market continues to trade above these levels. On the upside, 25,000–24900/82,000–81700 would be key resistance zones for the bulls. For day traders, buying on intraday dips and selling on ups would be the ideal strategy. However, if the market dips below 24,600/80,600, the sentiment might change. Below these levels, traders might prefer to exit their long positions as the market may retest the 25500 levels.
For Bank Nifty, the short-term outlook is still weak, a close above 56100 is positive however, it is still in the range and is trading with a negative bias. 56350 and 56500 would be a major hurdle zone. Support exists at 55850 and 55700.
For today, it is advisable to take a long position if Nifty corrects back to 24750-24700 levels with a stop-loss of 24600. Around 25000, it may find severe resistance.
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