Quote on Market Wrap Up 22 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up 22 July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices witnessed lackluster activity. The Nifty ends 30 points lower, while the Sensex was down by 13 points. Among sectors, the Digital index was the top gainer, rallying 1.10 percent, whereas the Media index lost the most, shedding 2 percent. Technically, after a gap-up open, the entire day saw the market registering selling pressure throughout. On daily charts, the market is still holding a lower top formation and has also formed a bearish candle, which indicates temporary weakness.
We believe that the current market texture is non-directional; hence, level-based trading would be the ideal strategy for day traders. For traders, the 25,000/82200 mark or the 50-day SMA (Simple Moving Average) would be the key support zone. As long as the market trades above this level, a pullback formation is likely to continue. On the higher side, 25,200/82800 and the 20-day SMA or 25,325/83100 would be the key resistance areas for the bulls. On the flip side, a breach of 25,000/82200 could push the market towards 24,900/81900. Further downside may also continue, which could drag the index down to 24,775/81500.
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