Quote on Market Wrap 23rd Oct 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap 23rd Oct 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 23 points higher, while the Sensex was up by 130 points. Among sectors, the IT index outperformed today, rallying over 2 percent. Technically, after a gap-up open, market consistently witnessing profit booking at higher levels. From the day's highest level, the market shed over 230/750 points. Additionally, on the daily charts, a bearish candle has formed, indicating temporary weakness. However, the short-term market outlook remains positive.
For day traders, levels of 26,000/84,800 will act as key levels to watch. As long as the market trades below these levels, profit booking is likely to continue. On the downside, the market could slip to 25,800-25,700 / 84,300-84,000. On the upside, above 26,000/84,800, the chances of reaching 26,100-26,150 / 85,300-85,500 would increase
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