Quote on Market Wrap Up 28th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up 28th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices continued to face selling pressure at higher levels. The Nifty ended 156 points lower, while the Sensex was down by 572 points. Among sectors, the Realty index lost the most, shedding nearly 4.29 percent, whereas some buying interest was seen in selective pharma and FMCG stocks. Technically, a bearish candle on daily charts and a lower top formation on intraday charts indicate further weakness from the current levels.
We are of the view that as long as the market is trading below 24,800/81100, the weak sentiment is likely to continue. On the downside, the market may correct until 24,550–24,500/80500-80350. On the upside, a break above 24,800/81100 could lead to a pullback rally extending up to 24,900/81400. Further upside may also continue, potentially pushing the market up to 25,000/81700.
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