The Nifty closed 68 points lower, while the Sensex was down by 247 points
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, July 14, 2025: Today, the benchmark indices continued to face selling pressure at higher levels. The Nifty closed 68 points lower, while the Sensex was down by 247 points. Among sectors, despite weak sentiment, the Reality and Capital Market indices outperformed, both rallying over 1.35 percent. Meanwhile, the IT index was the top loser, shedding 1.14 percent.
Technically, after a muted opening, the market experienced selling pressure at higher levels. However, following a long correction, it eventually took a halt near the 25,000/82,000 mark. We believe that the market has completed one leg of correction, and the 50-day SMA (Simple Moving Average) at 25,000/82,000 is likely to act as a key support zone for traders. Above this level, a technical bounce back up to the 20-day SMA, or approximately 25,250–25,300 / 82,500–82,800, could be expected.
On the flip side, below the 50-day SMA, or 25,000/82,000, selling pressure is likely to accelerate. In that scenario, the market could see levels around 24,850–24,800 / 81,600–81,500.
Gaurav Garg, Lemonn Markets Desk, adds:
"Indian equities extended their losing streak for the fourth straight session on Monday, with benchmark indices closing in the red amid weakness in heavyweight financial and IT stocks. The Sensex declined 247.01 points (–0.30%) to settle at 82,253.46, while the Nifty 50 fell 67.55 points (–0.27%) to end below the 25,100 mark at 25,082.30.
Despite the weakness in benchmarks, broader markets outperformed, with both BSE Midcap and Smallcap indices rising 0.5% each. Sectorally, IT led the decline, shedding 1%, dragged by losses in Tech Mahindra, Infosys, and Wipro. However, gains were seen in pharma, consumer durables, media, realty, and PSU banks, all rising between 0.5% to 1%.
The Put-Call Ratio (PCR) has declined to 0.5, suggesting aggressive call writing and potential oversold conditions in the market. This sets the stage for a possible bounce or reversal. A near-term target of 25,150–25,250 is expected, with an extended target of 25,500 in case of a breakout."
