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Below the Quote on Market Wrap Up 02nd September 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities 

Today, the benchmark indices experienced profit booking at higher levels. The Nifty closed 45 points lower, while the Sensex was down by 207 points. Among sectors, FMCG and Defence indices rallied over 1 percent, whereas intraday profit booking was seen in selective banking and financial stocks. Technically, after an intraday rally, the market faced resistance near 24,750/80,700. Due to profit booking at higher levels, it corrected sharply, shedding over 200/700 points from the day's highs.

We believe that the intraday market remains volatile and non-directional; hence, level-based trading would be the ideal strategy for day traders. On the lower side, 24,500/80,000 would act as a crucial support zone. Below this, the market could retest levels of 24,400-24,350 /79,700-79,500. On the higher side, the 20-day SMA (Simple Moving Average) or 24,700/80,500 and 24,750/80,700 could serve as key resistance levels for the bulls. A successful breakout above 24,750/80,700 could push the market up to 24,900/81,200.

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