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Below the Quote on Market Wrap 24th June 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 ends 72 points higher, while the Sensex was up by 158 points. Among sectors, the PSU Bank index gained the most, rallying 1.40 percent, whereas the Defense index lost the most, shed 2.35 percent. Technically, on the backdrop of strong global sentiment, our market opened with a gap up, but once again, it registered selling pressure at higher levels. From the day's highest level, the market corrected over 300/1000 points. It also formed a bearish candle on the daily charts, indicating temporary weakness. However, the medium-term outlook of the market remains positive.

We are of the view that 25,000/82000 would act as a key support zone for day traders. Above this level, we could expect a technical bounce back up to 25,200–25,300/82500-83000. On the flip side, if the market falls below 25,000/82000, it could extend the correction up to 24,850–24,800/81600-81500. The current market texture is volatile and non-directional; hence, level-based trading would be the ideal strategy for day traders.