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Below the Quote on Market Wrap Up 15 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities

Today, the benchmark indices bounced back sharply. The Nifty ends 114 points higher, while the Sensex was up by 317 points. Among sectors, almost all major sectoral indices traded in positive territory, but the Capital Market index outperformed, rallying 2.10 percent. Technically, after a muted open, the market bounced back sharply and has formed a reversal formation  on both intraday and daily charts, which is largely positive.

For short-term traders, the key support zones are 25,100 / 82,300. Above these levels, the pullback formation is likely to continue. On the higher side, the 20-day SMA at 25,300 / 82,900 would act as a crucial hurdle for the bulls. If the market successfully surpasses the 20-day SMA, it could move up to 25,450–25,500 / 83,300–83,500.

On the flip side, if the levels fall below 25,100 / 82,300, the market could retest the 50-day SMA at 25,000 / 82,000. Further downside may also continue, potentially dragging the market down to 24,850–24,800 / 81,600–81,500.

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