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Below the Quote on Market Morning Inputs by Shrikant Chouhan, Head Equity Research, Kotak Securities

The benchmark indices maintained their positive momentum, with the Nifty closing 500 points higher and the Sensex up by 1,578 points. All major sectoral indices traded in positive territory, with the Realty index leading the way, gaining 5.75 percent. Boosted by favorable global sentiment, the market opened significantly higher and fluctuated throughout the day between the 23250 to 23350/76500-76800 price ranges.

On the daily charts, the market continues to display an uptrend formation, indicating potential for further gains from current levels. We believe the current market environment is bullish; however, due to temporary overbought conditions, we may see some profit booking at higher levels. For traders, 23400/76900 and 23600/77600 would act as key resistance zones, while 23200-23100/76400-76100 could serve as crucial support areas.

If the market falls to 23200-23100/76400-76100, the ideal strategy would be to buy select stocks with a medium-term view. Buy Nifty between 23100-23200 levels and keep a stop loss below 23000 on a closing basis.

As long as the bank-nifty remains above 51800 levels, the bullish sentiment is expected to continue. On the upside, it could retest the range of 52600 to 53,000. However, if it falls below 51,800, the chances of reaching levels of 51,200 to 51,000 would increase

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