Quote on Market Wrap Up 18th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up 18th Aug 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices bounced back sharply. The Nifty ends 251 points higher, while the Sensex was up by 696 points. Among sectors, Auto and Consumer indices outperformed, with Auto gaining 4% and Consumer up by 3.30%. Despite strong market sentiment, the IT index registered intraday profit booking at higher levels. Technically, after a gap-up open, the market witnessed intraday selling pressure at higher levels. However, it succeeded in closing above the 20-day SMA (Simple Moving Average) or 24,750/81000, which is largely positive.
We believe that the short-term market outlook is positive, but buy on intraday dips and sell on rallies would be the ideal strategy for day traders. On the downside, 24,800/81000 and the 20-day SMA of 24,750/80800 would be key support levels, while 25,000 (50-day SMA)/81700 and 25,100/82000 could act as crucial resistance areas for the bulls. However, below 24,750/80800, the uptrend would become vulnerable. In that case, traders may prefer to exit their long positions.
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