IGI Logo

Below the Quote on Market Wrap Up 07 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices witnessed narrow-range activity. The Nifty ends 7 points lower, while the Sensex was up by 10 points. Among sectors, the FMCG index outperformed, rallied 1.73 percent, whereas the Media and Defense indices shed over 1 percent. Technically, after a muted open, the market hovered between the 25,400/83250 to 25,475/83400 ranges throughout the day. A small candle on the daily charts and non-directional activity on intraday charts indicate indecisiveness between the bulls and the bears.

We are of the view that 25,500/83500 will act as an immediate breakout zone for traders. Above this level, the market could rally up to 25,575/83700–25,650/84000. On the flip side, below 25,400/83250, we could see a quick intraday correction down to 25,300/83000. Further weakness may also continue, potentially dragging the market down to 25,225/82800. The current market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders.

Above views are of the author and not of the website kindly read disclaimer