Quote on Market Wrap Up 30th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Wrap Up 30th July 2025 by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices witnessed narrow-range activity. The Nifty ends 34 points higher, while the Sensex gained 144 points. Among sectors, selective buying was seen in capital goods stocks, whereas the Realty and Media indices continued to experience profit booking at higher levels. Technically, after a muted open, the market hovered between 24,770/81,200 and 24,900/81,600 price ranges. A small candle on the daily charts and the narrow range activity on intraday charts indicate indecisiveness between bulls and bears.
We are of the view that as long as the market trades above 24,750/81,200, the pullback formation is likely to continue. On the higher side, the market could move up to 25,000/82,000, with further upside potentially pushing the indices to 25,075/82,200. On the downside, if the market falls below 24,750/81,200, we could see a fresh round of selling. Below this level, the market is likely to retest the levels of 24,650-24600/81,000-80,700.
The intraday market texture is non-directional. Therefore, level-based trading would be the ideal strategy for day traders.
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