Nifty ended 125 points lower while the Sensex was down by 466 points
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, September 22, 2025: The benchmark indices continued profit booking at higher levels, with the Nifty ending 125 points lower while the Sensex was down by 466 points. Among sectors, the IT index was the top loser, shedding nearly 3 percent, whereas intraday buying was seen in selective energy and digital stocks. Technically, after a gap-down open, the market witnessed intraday recovery, but due to consistent profit booking at higher levels in the second half, it corrected sharply. A lower top on intraday charts and a bearish candle on daily charts indicate further weakness from the current levels.
We are of the view that, as long as market is trading above 25300/82500 the weak sentiment is likely to continue. On the down side, it could slip till 25100-25050/82000-81700. On the flip side, 25,300/82500 would act as a crucial resistance zone for day traders. If the market manages to trade above this level, it could move up to 25,400–25,425/82800-83000.
The current market texture is volatile; hence, level-based trading would be the ideal strategy for day traders.
Mr. Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. adds: " Nifty opened on a weak note, remained under pressure throughout the session, and settled lower at 25,202. On the daily chart, the index formed a bearish candle and retested the breakout zone of 25,150. A sustained move below 25,150 may trigger further downside towards 24,960, which coincides with the placement of the 34-DEMA. On the upside, the supply zone around 25,450–25,500 is expected to act as a significant resistance. In short term, Nifty likely to consolidate in the band of 24,960 and 25,500.
Bank Nifty also started on a negative note, witnessed a short-lived recovery, but eventually settled on a bearish note at 55,285. Technically, the Bank Nifty formed a red candle on the daily scale, reflecting continued weakness. On the higher side, the immediate resistance is placed around 56,000–56,160, where major supply levels are observed. On the downside, immediate support is placed near 55,085, corresponding to the 34-DEMA, followed by 54,800. Hence, a buy-near-support and sell-near-resistance strategy is recommended in Bank Nifty.”
