Quote on Market Wrap 16th October 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap 16th October 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices continued their positive momentum, with the Nifty ending 262 points higher while the Sensex was up by 862 points. Among sectors, buying was seen in FMCG and Realty stocks, resulting in the FMCG index gaining 2 percent and the Realty index rallying 1.75 percent, whereas intraday profit booking was observed in selective PSU bank stocks.
Technically, the market opened with a gap-up and maintained positive momentum throughout the day. On daily charts, it has formed a bullish candle, and on intraday charts, it is holding an uptrend continuation formation, which is largely positive.
We are of the view that the short-term market texture is bullish, but due to temporary overbought conditions, we could see range-bound activity in the near future. For traders, now, 25,500-25,400/83200-82900 would act as key support zones. On the higher side, 25,725-25,800/83800-84000 would be the key resistance areas for the bulls. However, below 25,400,/82900 the uptrend would become vulnerable.
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