Sensex was down by 50 points
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, June 10, 2025: Today, the benchmark indices continued narrow range activity. The Nifty ends 1 points higher, while the Sensex was down by 50 points. Among sectors, IT, Defense, and Media indices gained over 1 percent, whereas the Realty index was the top loser, shedding 1 percent.
Technically, the market has been witnessing narrow range activity over the last two days. Key support zones for traders include 25,000/82000 and 25,050/82100, while 25,150/82400-25,200/82600 would act as a key resistance area for the bulls. We are of the view that as long as the market trades between 25,000/82000 and 25,200/82600, range-bound textures are likely to continue.
As per Satish Chandra Aluri, Lemonn Markets Desk, benchmarks ended flat on Tuesday taking a breather after recent gains. Broader Mid and Small caps continued to outperform and extended gains.
Markets opened higher but steadily lost ground throughout the session eventually ending flat. Global cues were mixed, while India VIX eased further, suggesting calm in the market. FII sentiment remained positive. Investors monitored developments in US-China trade talks and mixed signals from global markets, with US equities holding steady and Asia broadly positive. IT and media led sectoral gains with IT stocks benefiting from positive global tech sentiment and robust earnings outlook, while realty saw another day of profit booking. The focus now shifts to global trade talks, monsoon developments, and central bank actions, which will set the tone for further market direction.
Technically, Nifty managed to remain above the 25100 level. Immediate support for Nifty is seen at 25,000, with a stronger base at 24,900–24,950. Key resistance levels are at 25,200 and 25,350 with the overall structure remaining bullish.
A successful breakout above 25,200/82600 could push the market up to 25,350/83000-25,400/83200. On the other side, below 25,000/82000, selling pressure is likely to accelerate. Below this level, the market could retest the level of 24,850/81700 - 24,775/81500.
