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Below the Quote on Market Wrap 23rd September 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed a volatile trading session. After a roller-coaster activity, the Nifty ended 33 points lower, while the Sensex was down by 58 points. Among sectors, PSU banks and metal indices outperformed, rallying nearly  1 percent, whereas the FMCG index lost the most, shedding over 1 percent. Technically, after an early morning intraday selloff, the market took support near 25,100/81800 and rebounded sharply. However, it failed to sustain gains at higher levels. We believe that the intraday market texture is volatile and non-directional; hence, level-based trading would be the ideal strategy for day traders.

On the higher side, a break above 25,250/82350 is likely to maintain bullish momentum. Above this level, the index could move up to 25,350-25,380/82600-82800. On the flip side, a decline below 25,100/81800 may accelerate further. Below this level, it could slip to 25,000-24,950/81500-81400.