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Below the Quote On Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking

Equity benchmarks ended in the red on Wednesday, weighed down by broad-based sectoral weakness. The Sensex declined 239 points to close at 81,197, while the Nifty slipped 59 points, settling just below the 24,750 mark. Pressure was visible across FMCG, auto, and pharma stocks, with ITC, IndusInd Bank, Ultratech Cement, and Nestle India among the top laggards on the Nifty.

Technically, the Nifty has now been consolidating for 12 straight sessions, reflecting growing indecision among traders. The index, however, continues to trade above its key short-term moving averages, which indicates a mildly positive undertone. That said, the RSI has started turning downward, suggesting signs of fatigue in bullish momentum and a potential pause in the current uptrend.

Looking ahead, support for the Nifty is placed at 24,700, while immediate resistance is seen in the 24,900–25,000 zone. A sustained close above 25,000 could invite fresh buying interest, potentially driving the index toward 25,400 and 25,600 levels. In the absence of a decisive breakout, range-bound trading is expected to continue, and traders are advised to remain cautious and look for confirmation signals before entering new positions.

On the volatility front, the India VIX eased by 2.29% to 18.02, indicating a slight reduction in trader nervousness. In the derivatives space, the highest Call open interest was at the 25,000 strike, while the highest Put OI stood at 24,500, suggesting a likely near-term range between 24,500 and 25,000. Market participants should continue monitoring global cues and domestic macro data for further direction

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