Quote on Market Morning Inputs by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Morning Inputs by Shrikant Chouhan, Head Equity Research, Kotak Securities
On the daily chart, the market has formed a bullish continuation pattern by crossing and closing above the highest level of the previous day, which was at 23370/76900. It is a positive sign. For trend-following traders, the key support zone is at 23,275/76550. If the market falls below 23,275/76550, sentiment may shift, potentially leading to a re-test of the 23,200-23,150/76500-76200 range.
The positive momentum could continue up to 23,500/77300. Additionally, with improved support from several sectors, the market might even surpass the levels of 23,575/77500. The strategy should be to buy between 23200 and 23100 levels with a stop loss at 23000 on a closing basis.
It's worth noting that the Bank Nifty is outperforming the Nifty50/Sensex, and the Fin nifty has already crossed its all-time high levels. This indicates a strong response from investors to the domestic macroeconomic conditions.
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