Quote on Market Wrap 08th September 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap 08th September 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 25 points higher, while the Sensex was up by 150 points. Among sectors, the Technology index lost the most, shed over 1.70 percent, whereas the Auto index gained nearly 1 percent. Technically, after a gap-up opening, the market has consistently witnessed buying pressure at lower levels, however, in the second half we saw a quick and sharp sell-off in the market, which was unexpected.
On daily charts, it has formed an indecisive candlestick formation, which indicates an indecisiveness between bulls and bears. We are of the view that the short-term market outlook would remain volatile; however, a fresh uptrend rally is possible only after crossing the 24,900/81200 level. Above this, the market could move up to 25,000/81500. Further upside may also continue, potentially lifting the index up to 25,100/81800. On the downside, 24,650/80500 and 24,600/80300 are key support zones for day traders. If the index falls below 24,600/80300, then index might fall to 24500/80000 or 24450/79800 levels in the short term.
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