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Below the Quote on Weekly Market Wrap 04 July 2025 by Amol Athawale, VP-Technical Research, Kotak Securities 

In the last week, the benchmark indices witnessed selling pressure at higher levels. The Nifty ends 0.69 percent lower, while the Sensex was down by 626 points. Among sectors, Consumer and Healthcare indices outperformed, the Consumer index gained 2 percent, and Healthcare rallied 1.90 percent, whereas the Reality index lost the most, shed over 3 percent. Technically, on intraday charts, it is holding a lower top formation, and on weekly charts, it has formed a bearish candle, which is largely negative. However, the short-term market texture still appears to be positive. We believe that currently, the market is witnessing non-directional activity; perhaps traders are waiting for either side breakout.

For the bulls, 25,500/83600 would act as an immediate resistance zone. If the market succeeds in trading above this level, it could move up to 25,670/84100. A successful breakout above this could push the market towards 25,800–25,900/85000-85300. On the flip side, if the market falls below 25,300/83000, sentiment could turn negative. Below this level, the market could slip to 25,000–24,950/82100-81900.For Bank Nifty, the 20-day SMA (Simple Moving Average) at 56,500 is a key level to watch. Below this, Bank Nifty could decline to 56,200–56,000. On the other hand, as long as it remains above 56,500, the chance of reaching 57,500–57,800 remains bright.