Quote on Market Wrap Up 16 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up 16 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices experienced narrow-range activity, with the Nifty ends 16 points higher and the Sensex gain 64 points. Among sectors, the PSU Bank index outperformed, rallying over 1.70 percent, while selective profit booking was observed in Metal and Defense stocks. Technically, a small candle on the daily charts and range-bound intraday activity indicate indecisiveness between the bulls and bears.
We believe that 25,100/82,300 will remain act as a key support zone for traders. As long as the market trades above this level, the bullish sentiment is likely to continue. On the higher side, the market could bounce back to the 20-day SMA (Simple Moving Average) or 25,300/83,000. Further upside may also push the market up to 25,450/83,600.
Conversely, below 25,100/82,300, the sentiment could change. If the market slips below this level, it could decline toward the 50-day SMA or the 25,000-24,930/82,000-81,800 zone.
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