Quote on Morning Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities

2025-07-18 10:29:30 am | Source: Axis Securities Ltd

Quote on Morning Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities

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Below the Quote on Morning Market Movement by Akshay Chinchalkar, Head of Research, Axis Securitiesa

The nifty ended down for the fifth time in seven days yesterday, but the market is still holding above the rising trendline drawn from the May 9 lows. Technically speaking, the daily candle completed a bearish engulfing pattern, and that's not surprising given that we'd mentioned that closing above 25245 and then 25340 was essential for bulls to make a comeback. So, 25000 remains the support level to watch while 25340 is vital resistance. Asian cues are mostly bullish this morning along with US index futures.

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Quote on Morning Market Movement by Akshay Chinchalkar, Head of Research, Axis Securities

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