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

Benchmark indices experienced profit booking at higher levels. The Nifty closed 74 points lower, while the Sensex fell by 271 points. Among the sectors, the real estate index outperformed, gaining over 2 percent, while the digital index suffered the most, closing approximately 1.5 percent lower.

From a technical perspective, after a muted opening, the market faced selling pressure at higher levels. The daily chart formed a small bearish candle, indicating temporary weakness. However, the short-term market structure remains positive. For day traders, the levels of 25000-25,100/82200-82500 will act as a trend-deciding zone. If the market falls below this level, we may see an intraday correction towards 24,800-24700/81500-81200, where there is support from the 10-day EMA. Conversely, a breach of 25,100/82500 could change market sentiment. If this level is surpassed, the market has the potential to rise towards 25,300-25,400/83100-83400. The strategy should be to buy Nifty if it crosses 25100, with a stop loss set at 24950 or buy at support between 24800-24700 levels.  

It is essential for Bank Nifty to surpass the 56100 level; until then, maintain a range trading approach between 56100 and 54100.

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