Quote on Market Wrap 18th June 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap 18th June 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
The benchmark indices witnessed profit booking at 24900/81850. The Nifty ended in the negative territory, while the Sensex was down by 140 points. Among sectors, the Consumer durables index was the top gainer, gaining 0.90 percent, whereas the Nifty Media and Capital Markets indices shed nearly 1% percent.
Technically, Nifty/Sensex has formed indecisive pattern at equilibrium levels on daily charts that indicate at temporary weakness. We believe that as long as the market is trading below 24,800/81400, the weak sentiment is likely to continue. On the downside, 24,725/81250 would be the immediate support zones for traders. Below this, the market could slip to 24,500/80600. On the flip side, above 24,900/81850, the sentiment could change. If it moves above this level, it could rally up to 25,000-25,100/82100-82500.
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