Quote on Market Wrap 16th September 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap 16th September 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices witnessed a promising uptrend rally. The Nifty ends 170 points higher, while the Sensex was up by 595 points. Among sectors, almost all the major sectoral indices traded in positive territory, but the Auto index outperformed, rallying over 1.5 percent. Technically, after a muted open, the market surpassed the 25,100/82000 resistance mark, and post-breakout, positive momentum intensified. A long bullish candle on daily charts and an uptrend continuation pattern on intraday charts indicate further upward movement from the current levels.
We are of the view that as long as the market is trading above 25,100/82000 the bullish sentiment is likely to continue. On the higher side, it could move up to 25,400/82800, with further upside potential that may lift the index to 25,500/83100. On the flip side, below 25,100/82000, the sentiment could change. If the market falls below this level, traders may consider exiting their long positions.
The current market texture is bullish, but buying on intraday dips and selling on rallies would be the ideal strategy for day traders.
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