Quote on Market Wrap Up 09 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up 09 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ends 46 points lower, while the Sensex was down by 176 points. Among sectors, selective FMCG stocks registered intraday buying interest, whereas the Reality ,Metal, Oil and Gas indices shed over 1 percent.
Technically, a small bearish candle on the daily charts and non-directional activity on intraday charts indicate indecisiveness between the bulls and the bears. We believe that the current market texture is non-directional; perhaps traders are waiting for either side to break out. For the bulls, the breakout zones for day traders are 25,550/83,800. Above these levels, the market could rally to 25,650-25,725 / 84,000-84,400. On the flip side, a dismissal of 25,400/83,350 could accelerate selling pressure. Below these levels, the market may retest the levels of 25,300/83,000. Further downside could continue, potentially dragging the market to 25,200-25,175 / 83,000-82,900.
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