Quote on Market Wrap Up 12th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up 12th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices experienced a volatile trading session. After a roller coaster activity, the Nifty ends 98 points lower, while the Sensex was down by 369 points. Among sectors, intraday buying was observed in Pharma and Media stocks, while selective Financial, Defense, and Banking stocks registered profit-taking at higher levels. Technically, after an early morning intraday rally, the market faced resistance near 24,700/81000 and reversed sharply. From the day's highest point, the market shed over 225/700 points.
We are of the view that the current market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders. On the higher side, 24,570/80500 would act as a immediate resistance zone. Above this level, the market could bounce back up to 24,700-24,775/81000-81200. On the lower side, below 24,420/80000, selling pressure is likely to accelerate. Below this level, the market could retest the levels of 24350-24250/79800-79500.
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