Nifty & Bank Nifty Melt From Resistance | Gold Plunges to $4024 | Crude Above $90

In this high-stakes market update, we analyze how Nifty 50 and Bank Nifty perfectly validated our exact pre-calculated technical resistance zones before experiencing a sharp intraday meltdown. Head of Research Naresh Sharma breaks down how Nifty opened at 23,233.95, surged directly into our projected target zone to make a high of 23,425.35 (just shy of the 23,450 wall), and completely reversed to close at 23,216.45. Similarly, Bank Nifty hit an absolute top of 55,555.85, accurately hitting our predicted resistance, before crashing back down to end at 55,104.30.

FII/FPI & DII trading activity on NSE, BSE and MSEI in Capital Market Segment 10^th Jun 2026

As of 10:05(IST)

NSE ADVANCE/DECLINE: 

As of 10:29(IST)

NIFTY INDEX DAILY REPORT

NSE Nifty 50 traded with positive bias and showed a strong midday recovery to reverse early losses triggered by weak global cues. Amid sticky US inflation data and escalating geopolitical tensions overnight, the index opened with a notable gap-down at 23,104.40 and touched an intraday low of 23,072.05, testing key psychological support levels of around 23,000. However, strong institutional buying in heavy-weight private banking stocks and defensives like FMCG helped erase the losses, pushing the index to an intraday high of 23,327.45. By afternoon, the Nifty 50 hovered cautiously higher around the 23,233 level, up from its previous close of 23,214.95, effectively containing the market fear premium.

The Nifty Bank index displayed a relative strength mirroring the strength in the broader market index Triggered by a weak global setup, the banking index initially dipped to a low of 54,753.15, but aggressive institutional accumulation in large-cap private banks quickly sparked a powerful short-covering rally. Spearheaded by ICICI Bank’s impressive 1.92% surge reaching the high of Rs1333, alongside strong gains from Kotak Mahindra Bank and Axis Bank, the index completely overcame minor profit-booking in HDFC Bank. By late afternoon, Bank Nifty was trading up at 55,194.10, having hit an intraday high of 55,600.15 and successfully defending its crucial 55,000 psychological support zone.

Nifty IT index faced selling pressure  and was seen trading down by over 1.78% and touched the intra day low of 27,519.15, buckling under adverse global macroeconomic and geopolitical cues. The tech sector took a hit amid overnight developments on Wall Street, where the Nasdaq dropped nearly 2% because of tech-heavy liquidations and escalating military tensions between the US and Iran. This macro-driven sentiment and subsequent foreign institutional selling is seen heavily impacting India’s IT majors, dragging prominent index heavyweights like Infosys and HCLTech in the red zone. Nifty IT could only see upside if it managed to breach the upside level of 28,000. Failing to do so would keep the index under pressure and can reach 27,000.

STOCKS TO GO EX DIVIDEND on 12th June, 2026

Tata Steel(Rs4), Tata Motors(Rs4), Adani Ports(Rs7.50), Adani Enterprises(Rs 1.30), Punjab National Bank(Rs3), Canara Bank(Rs4.30), Trent (Rs6) and Ambuja Cements(Rs2) and Volats (Rs4)

NIFTY DAILY CHART

Nifty traded with positive bias during the session and managed to pull itself up from the day’s low of 23,072.05. The index though seems to be trading above the mark of 23,300. But for further upside the index must reach 23,270-23,300 and continue to trade above the same with sustainability. Failing to do so would make index weaker for the lower level of23100-23,000.RSI at 39 is indicating weakness in the index, but there is scope for upside, provided, index decisively trades above the mark of 23,270 to reach for upside destination of 23,500.

POST MARKET BRIEF

Equity Market Technical Analysis Snapshot: Jun 11^th, 2026

NIFTY50:

Nifty slipped -0.12%, opening at 23,104.40 and witnessing an initial recovery to an intraday high of 23,327.45, where it faced resistance near the anticipated resistance zone. Selling pressure emerged from higher levels, dragging the index lower throughout the session before it closed at 23,161.60. The trend remains sideways to bearish as Nifty continues to trade below its 11DMA, 30DMA, and 200DMA, reflecting persistent weakness in the broader market structure. The RSI at 37.86 has weakened further, indicating fading momentum and increasing downside risk. Immediate resistance is placed at 23,250-23,450, while support lies at 23,050-22,800. A break below 23,050 could intensify selling pressure, while a sustained move above 23,250 may trigger short-covering. 

BANKNIFTY:

Bank Nifty gained +0.14%, opening at 54,779.65 and extending its strength to an intraday high of 55,600, where it encountered resistance near the anticipated resistance zone. Profit booking from higher levels pulled the index lower, though it still managed to close marginally positive at 55,176.75. The trend remains bullish as Bank Nifty continues to trade above its 11DMA and 30DMA, although it remains below the 200DMA. The RSI at 55.24 continues to support the bullish bias, indicating stronger momentum compared to the broader market. Immediate resistance is placed at 55,555-56,300, while support is seen at 54,450-53,800. Holding above 54,450 keeps the bullish structure intact, while a breakout above 55,555 could accelerate the ongoing recovery. 

NIFTY MID SELECT:

Nifty Mid Select (Midcap Nifty) declined -0.89%, opening gap-down at 13,923.65 and largely trading in a narrow range throughout the session. The index recorded an intraday high of 13,972.85 and a low of 13,839.65, before closing weak at 13,866.55. Importantly, the index has now breached the key support level of 13,900, which was highlighted earlier, thereby weakening the technical structure further. The trend remains sideways to bearish, and sustained trading below 13,900 could invite additional downside pressure. The index remains above its 200DMA but below both the 11DMA and 30DMA, while the RSI at 42.12 reflects weakening momentum. Immediate resistance is placed at 13,900-14,100, while support is seen at 13,700-13,500. A break below 13,700 may lead to a deeper correction. 

NIFTY IND DEFENCE:

Nifty India Defence fell sharply by -2.09%, opening at 8,955.05 below both the 11DMA and 30DMA. After showing some initial strength and touching an intraday high of 8,987.70, the index came under intense selling pressure, declining nearly 200 points to an intraday low of 8,790 before closing near the lows at 8,801.90. The trend has weakened to sideways to bearish, although some short-covering cannot be ruled out given the recent correction. The index continues to trade above its 200DMA but below the 11DMA and 30DMA, indicating deterioration in the short-term structure. The RSI at 43.26 has slipped into bearish territory, reflecting weak momentum. Immediate support is placed at 8,730-8,480, while resistance is seen at 8,910-9,050. A sustained move above 8,910 could trigger a relief rally, whereas a break below 8,730 may result in further downside pressure. 

Pivot Table:

FII/FPI & DII trading activity on NSE, BSE and MSEI in Capital Market Segment 11^th Jun 2026

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