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Below the Quote on Market Wrap Up 26th August 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities 

Today, the benchmark indices corrected sharply. The Nifty ends 256 points lower, while the Sensex was down by 849 points. Among sectors, Capital Market, Defense, and Real Estate shed over 2 percent, whereas despite weak market sentiment, the FMCG index outperformed and rallied nearly 1 percent.

Technically, after a gap-down open, the market breached the crucial support zone of 24,850/81300, and post-breakdown, selling pressure intensified. Additionally, it also formed a long bearish candle on the daily charts and is holding a lower top formation on intraday charts, which is largely negative.

We believe that the intraday market texture is weak, but a fresh selloff is possible only after the dismissal of the 24650/80500. Below this level, the index could retest the level of 24,550-24500/80200-80000. On the flip side, above 20 day SMA or 24750/81000, a pullback move is likely to continue up to 24850-24900/81300-81500.