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Below the Quote on Weekly Market Wrap 13th June 2025 by Amol Athawale, VP-Technical Research, Kotak Securities 

In the last week, the benchmark indices corrected sharply. The Nifty ended 1.14 percent lower, while the Sensex was down by 1080 points. Among sectors, despite weak market sentiment, the IT index outperformed, rallying 3.3 percent, whereas the Capital Market and Realty indices corrected sharply. The Capital Market Index was down by 4.18 percent, and the Realty index shed 2.80 percent.

The week opened positively, but once again, the market faced resistance near 25,200/82800 and reversed. Technically, on weekly charts, it has formed a long bearish candle and is currently trading comfortably below the 20-day SMA (Simple Moving Average), which is largely negative. We believe that as long as the market remains below the 20-day SMA or 24,850/81600, weak sentiment is likely to continue. On the downside, the market could retest the level of 24,500/80500. A breach of 24,500/80500 could accelerate selling pressure. Below this level, the index could slip to the 50-day SMA around 24,300/79900.

On the upside, a break above 24,750/81300 could extend the pullback move up to 24,850/81600. Further gains may also continue, lifting the market toward 24,950–25,000/81900-82100.