Nifty closed 88 points higher while Sensex was up 182 points.
Shrikant Chouhan,
Head, Equity Research,
Kotak Securities
Mumbai, May 14, 2025: Today, the benchmark indices traded mixed in the broad trading range of 24500/80900 and 24800/81700. Nifty closed 88 points higher while Sensex was up 182 points. Among sectors, defence and metal indices outperformed, while the IT index gained in the second half. The market corrected sharply on Tuesday, however, today we saw a relief rally, which took the market to close slightly above the previous levels. We are expecting the market to consolidate in the broad trading range of 24400-80600 and 25000-82300 for the next few days, and our strategy should be to buy on dips and sell on ups until the market closes above 25000-82300 and below 24400-80600. Also,o we need to pay more attention to the stock until the range is crossed. Bank Nifty has support at 54400; if it breaks, we may see a fresh round of profit booking.
Satish Chandra Aluri, Lemonn Markets Desk, adds:
" Benchmark indices posted gains on Wednesday, rebounding from yesterday’s losses. Positive domestic and global cues helped the markets stage the rebound, while broader mid and small caps outperformed with sharp gains on strong earnings and a continued rally in defence stocks.
Markets opened higher after domestic inflation data surprised positively, setting the stage for more rate cuts from the RBI in upcoming meetings. Retail inflation for April came in below expectations at 3.16%, its lowest level in six years, setting the stage for a rate cut at the RBI’s meeting in June. US inflation also surprised positively for April, allaying concerns of stagflation and leading to strong overnight gains in US indices. However, markets soon gave up the opening gains to trade flat before rebounding towards the end to close higher.
Overall, it was a somewhat range bound session today, helped by strength in sectors like IT, metals, and defence, while heavyweight financials lagged.
On the technical front, the Nifty 50 failed to close above the 24,700 level, and today’s price action shows some indecisiveness in the market. However, overall momentum remains biased to the positive side, although weakening. On the upside, expect 24,800–25,000 to act as the immediate resistance zone, while 24,500 acts as immediate support on the downside."
