Quote on Market Wrap 07th January 2026 by Shrikant Chouhan, Kotak Securities
Below the Quote on Market Wrap 07th January 2026 by Shrikant Chouhan, Kotak Securities
Today, the benchmark indices witnessed lacklustre activity. The Nifty ended 38 points lower, while the Sensex was down by 102 points. Among sectors, the IT Index rallied 1.95 percent, whereas the Auto Index shed nearly 0.75 percent. Technically, after a lower open, the market registered non-directional activity throughout the day. On the downside, it took support near 26,070/84600, while profit booking was seen near 26,200/85100.
We are of the view that the intraday market texture is non-directional; perhaps traders are waiting for either side breakout. On the higher side, 26,200/85100 would act as an immediate breakout zone for the bulls. A successful breakout of 26,200/85100 could push the market towards 26,260-26,300/85300-85500. On the flip side, below 26,070/84600, selling pressure is likely to accelerate. If it falls below this level, the market could slip to 25,950-25,900/84300-84200.
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