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Below the Quote on Weekly Market Wrap 29th August 2025 by Amol Athawale, VP-Technical Research, Kotak Securities

In the last week, the benchmark indices witnessed selling pressure at higher levels. The Nifty ended 1.8 percent lower, while the Sensex declined by 1500 points. Among sectors, the Capital Market Index lost the most, declining by 7.5 percent, whereas some buying was seen in selective FMCG stocks, resulting in the FMCG Index gaining 0.67 percent. Technically, on weekly charts, it has formed a long bearish candle and also a lower top formation, which is largely negative.

We are of the view  that the market's short-term outlook remains weak, but a fresh selloff is possible only if the level of 24,330/79700 is breached. On the other hand, above 24,550/80500, the pullback rally could continue up to the 20-day SMA (Simple Moving Average) or 24,700/81000 and 24,800/81300.

On the downside, if the market falls below 24,330/79700, it could slip to the 200-day SMA or around 24,070/78900. Further downside may also continue, which could drag the market down to 23,900/78400.

For Bank Nifty, if it sustains above 53,500, a pullback move is likely to continue toward 54,500–55,000–55,800. Conversely, if it falls below 53,500, it could decline toward the 200-day SMA or around 53,000–52,800.

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