June 14, 2025
admin
Weekly market wrap by Amol Athawale, VP-Technical Research, Kotak Securities:
For the week commencing on 16 June 2025
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.
For Bank Nifty, the key support zone is between 55,000 and 55,200. Above this range, it could bounce back toward 56,100–56,300. Conversely, a fall below 55,000 increases the likelihood of testing the 50-day SMA or 54,500.
- Market Analysis by Nagaraj Shetti
- Stock Market today by Vaishali Parekh
- Analysis by Kotak Securities
- Market Analysis by HDFC Securities
- Technical Analysis by Kotak Securities
- Technical Analysis by Samco Securities
