Quote on Market Wrap 03rd October 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap 03rd October 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
In the last truncated week, the benchmark indices witnessed a recovery from lower levels. The Nifty ended 0.97 percent higher, while the Sensex was up by 780 points. Among sectors, almost all major sectoral indices registered buying interest at lower levels, but PSU Bank and Metal indices outperformed, PSU Bank gained 4.45 , Metal index rallied 3.90 percent. During the week, the market took support near 24,600/80200 and bounced back sharply.
Technically, on daily charts, it has formed a promising reversal pattern, and on weekly charts, it formed a small bullish candle, which is largely positive. We believe that 24,800–24,600/80800-80200 will act as key support zones in the near future. Above this range, the pullback formation is likely to continue on the higher side, potentially moving up to the 20-day SMA (Simple Moving Average) or 25,000/81400. Further upside may also continue, which could lift the market up to 25,150/81900.
On the flip side, below 24,600/80200, sentiment could turn negative. Traders may prefer to exit long positions if the index falls below this level. For Bank Nifty, the 50-day and 20-day SMAs or 55,200 and 55000 will act as crucial support zones. On the higher side, the rally could continue toward 56,000–56,300. However, if it falls below the 20-day SMA at 55000, the uptrend could become vulnerable.
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