Quote on Market Wrap Up 05th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up 05th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices experienced selling pressure at higher levels. The Nifty closed 73 points lower, while the Sensex was down by 308 points. Among sectors, intraday buying interest was seen in selective Defence stocks, whereas the capital market index lost the most, shedding over 1 percent. Technically, after an early morning selloff, the market registered range-bound activity throughout the day. We believe that the market is currently exhibiting non-directional activity, with traders possibly waiting for either side to break out.
For day traders, the levels of 24,700/81,000 will act as important resistance zones. Above these levels, a pullback could continue up to 24,850-24,900 / 81,500-81,600. On the downside, 24,550-24,500 / 80,500-80,300 will serve as key support zones. Below these levels, the market could slip further to 24,350-24,300 / 80,000-79,700. Given the current market texture of non-directional movement, level-based trading would be the ideal strategy for day traders.
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