Quote on Market Wrap Up 10 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up10 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices witnessed selling pressure at higher levels. The Nifty ends 121 points lower, while the Sensex was down by 346 points. Among sectors, intraday buying was seen in selective Reality and Metal stocks, whereas the Defense index was the top loser, shedding nearly 2 percent.
Technically, after a muted open, the market experienced consistent selling pressure throughout the day at higher levels. It also formed a bearish candle on daily charts and is exhibiting a lower top formation on intraday charts, which is largely negative.
We are of the view that the intraday market outlook is weak; however, a fresh selloff is possible only after the dismissal of 25,300/83,000. Below these levels, the market could slip to 25,200/82,700. Further selling pressure may continue, potentially dragging the market down to 25,225/82,500.
On the upside, above 25,450/83,400, we could see a quick intraday rally toward 25,550–25,650/83,700–84,000.
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