Quote on Market Wrap 26th June 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap 26th June 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
On the June series Monthly F&O expiry day, the benchmark indices witnessed a stellar rally. The Nifty ends 304 points higher, while the Sensex was up by 1000 points. Among sectors, Metal, Oil, and Gas indices outperformed, with Metal gaining 2.13 percent and Oil and Gas 1.92 percent, whereas Reality and Media Indices shed over 1 percent.
Technically, after a strong open, the market successfully cleared the 25,300/83000 resistance mark, and post-breakout, positive momentum intensified. On daily charts, it has formed a long bullish candle, which supports further uptrend from the current levels.
We believe that the intraday market texture is bullish, but due to temporary overbought conditions, we could see range-bound activity in the near future. For day traders, buying on intraday corrections and selling on rallies would be the ideal strategy. On the downside, 25,415/83300 and 25,300/83000 would act as key support zones, while 25,720/84300 and 25,800/84500 would be the key resistance levels for the bulls. However, if the market dips below 25,300/83000, traders may prefer to exit their long positions.
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