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Below the Quote on Market Wrap 01 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed lackluster activity. The Nifty ends 25 points higher , while the Sensex was up  by 91 points. Among sectors, PSU banks and defense stocks witnessed intraday  buying interest, whereas the media index lost the most, shed 1.35  percent. Technically, after a muted open, the entire day market hovered between 24,500/83,600 and 24,600/83,900 price ranges. A small candlestick formation  on daily charts and non-directional intraday activity on intraday charts indicate indecisiveness between the bulls and the bears.

We believe that the current market texture is non-directional, perhaps with traders waiting for either side to make a breakout. For the bulls, the immediate breakout zones are 25,600/83,900. A successful breakout above these levels could push the market toward 25,700–25,750 / 84,200–84,400. On the flip side, a dismissal of 25,470/83,500 could accelerate selling pressure. Below these levels, the market could retest 25,375–25,300 / 83,200–83,000.