
By: Moumita Samanta | Date : Jun 18, 26
| Category | Value |
| FII/FPI | +101.59Cr |
| DII | +1,561.40Cr |
| INDIA VIX | 12.83(-2.73%) |
As of 10:22(IST)
| ADVANCE | 1928 |
| DECLINE | 1040 |
As of 10:23(IST)
| Nifty 50 | 24168(0.34%) | Nifty Bank | 57963.8(0.66%) |
| Sensex | 77409.98(0.33%) | India Vix | 12.67(-3.91%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| MAXHEALTH | 6.46% | INFY | -2.62% |
| INDIGO | 2.78% | TATACONSUM | -1.20% |
| ADANIENT | 2.71% | TECHM | -1.00% |
| TRENT | 2.55% | MARUTI | -0.92% |
| BEL | 1.96% | TCS | -0.92% |
NIFTY 50 delivered a resilient performance, managing to close in the green and hold steady above the crucial 24,100 mark to settle at the level of 24,168, up by 0.34%. The optimism in the market came from a potential US-Iran geopolitical breakthrough that sent crude oil prices lower, benefiting Indian macros, but optimism was sharply countered by hawkish remarks from the US Federal Reserve, which hinted at prolonged higher interest rates. This macro tension triggered a sharp 1.19% sell-off in the Nifty IT index, dragging down heavyweights like Infosys and TCS over fears of slowed US tech spending. However, the index was rescued by robust buying in PSU Banks, Metals, and Capital Goods, allowing NIFTY 50 to absorb the IT shock, defend its key support at 24,000, and maintain its broader upward consolidation phase, and looking for an upside destination of 24,200.
Bank Nifty displayed impressive strength outpacing the wider market despite aggressive, high-interest-rate rhetoric from the US Federal Reserve and went up to style higher by 0.66% at 56,963.80 . After starting the session flat around the 57,596 mark, Bank Nifty shrugged off early morning jitters, gaining more than half a percent to peak near 58,021.25. This rally was largely driven by powerhouse performances from HDFC Bank, which jumped nearly 1.51%, and SBI, which comfortably defended its crucial 1,000 baseline with a 1.58% increase. Even though the Fed’s reduced timeline for rate cuts usually sparks worries over squeezed profit margins and slower loan growth, aggressive local buying and heavy derivative support at the 57,000 strike price kept sellers at bay, keeping the banking index’s positive technical breakout completely on track.
The Nifty IT index bore the brunt of global market pressures and slid by 1.19% to finish near the 28,466. The sharp decline was triggered by an aggressive, hawkish stance on interest rate from US Federal Reserve newly appointed Chair Kevin Warsh during the June FOMC meeting, where policymakers signaled potential rate hikes later in the year. Because Indian technology firms rely heavily on American clients for the bulk of their revenue, the prospect of prolonged high interest rates sparked fears of slashed corporate IT budgets and delayed discretionary spending. This macroeconomic blow exacerbated a sector already bruised by a 26% year-to-date decline driven by long-term anxieties over AI disruption, causing widespread losses across industry leaders as Infosys plunged 2.61%, accompanied by notable drops in Persistent Systems, Tech Mahindra, and TCS.
Nifty traded with positive bias and managed to touch the intra day high of 24,189.25. For the index to touch the next upside destination of 24,350, it must sustain the level of 24,100 and trade above the same. But failure to sustain the mark of 24,100, would again put short term pressure on the index that would take the index for the downside destination of 24,000. This index is expected to be within a range of 23,800-24,200. Only either side breach of the level would give further direction to the index.

| INDICES | CLOSING | %CHANGE | SUPPORT | RESISTANCE |
| NIFTY | 24,168 | 0.34% | 23,800 | 24,200 |
| BANK NIFTY | 57,963.80 | 0.66% | 56,950 | 57,790 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 28,466.45 | -1.19% | 27650 | 28780 |
| NIFTY PHARMA | 24,282.20 | 0.56% | 24,000 | 24,500 |
| NIFTY AUTO | 26,746.60 | 0.08% | 26,620 | 27,100 |
| NIFTY REALTY | 820.2 | 0.69% | 780 | 830 |
| NIFTY ENERGY | 40,457.30 | 0.54% | 40,100 | 40,670 |
| NIFTY FMCG | 49,654.50 | 0.20% | 47,650 | 49,890 |

Nifty gained +0.34%, opening at 24,073.80 and spending most of the session in a narrow 100-point range. In the final trading hour, the index witnessed a decisive breakout above the intraday range, rallying to an intraday high of 24,189.25 before closing strong at 24,168.00. The trend has turned bullish as Nifty continues to trade above its 11DMA and 30DMA, although it remains below the 200DMA, indicating improving short-term momentum within a cautiously positive broader structure. The RSI at 62.43 reflects strengthening bullish momentum. Immediate resistance is placed at 24,250-24,400, while support is seen at 24,000-23,900. A sustained breakout above 24,250 could extend the ongoing rally, while holding above 24,000 will be crucial to maintain the bullish bias.

Bank Nifty advanced +0.66%, opening at 57,596.45 and maintaining a strong uptrend throughout the session. The index continued to register higher highs, touching an intraday high of 58,021.25 and briefly crossing the psychological 58,000 mark before witnessing mild profit booking and closing at 57,963.80. The trend remains firmly bullish as Bank Nifty trades comfortably above its 200DMA, 30DMA, and 11DMA, confirming strength across all major timeframes. The RSI at 70.97 has entered the overbought zone, suggesting that while the primary trend remains positive, a short-term pullback or consolidation cannot be ruled out. Immediate resistance is placed at 58,100-58,500, while support is seen at 57,650-57,300. Sustaining above 57,650 will keep the bullish structure intact, while a breakout above 58,100 could trigger fresh upside momentum.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 24000 | 24250 | Bullish |
| BANK NIFTY | 57650 | 58100 | Bullish |

Nifty Mid Select (Midcap Nifty) edged higher by +0.14%, opening at 14,609.75 and trading in a narrow range between 14,553.15 and 14,618.05 throughout the session before closing at 14,595.65. The trend remains bullish as the index continues to trade above its 200DMA, 11DMA, and 30DMA, reflecting sustained strength despite the consolidation. The RSI at 60.90 indicates healthy bullish momentum and suggests that the ongoing consolidation may be part of a continuation pattern rather than a reversal. Immediate resistance is placed at 14,650-14,770, while support is seen at 14,550-14,400. A decisive move above 14,650 could lead to fresh buying interest and extend the uptrend.

Nifty IT declined -1.19%, opening gap-down at 28,592.40 below the 30-DMA and witnessing persistent selling pressure throughout the session. The index slipped to an intraday low of 28,262.65, before stabilizing in a narrow range and eventually closing at 28,466.45, below both the 11DMA and 30DMA. The trend remains bearish as the index continues to trade below its 11DMA, 30DMA, and 200DMA, indicating weakness across all major timeframes. The RSI at 46.05 reflects subdued momentum and suggests that buyers are yet to regain control. Immediate support is placed at 28,150-27,600, while resistance is seen at 28,750-29,050. A sustained move above 28,750 would be needed to improve the short-term outlook, while a break below 28,150 could lead to further downside pressure.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 14400 | 14770 | Bullish |
| NIFTY IT | 28150 | 28750 | Bearish |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 23921 | 23979 | 24074 | 24131 | 24226 | 24284 | 24378 |
| BANKNIFTY | 57253 | 57418 | 57691 | 57856 | 58129 | 58294 | 58567 |
| FINNIFTY | 26222 | 26304 | 26443 | 26524 | 26663 | 26745 | 26884 |
| MIDCPNIFTY | 14495 | 14524 | 14560 | 14589 | 14625 | 14654 | 14690 |
| NIFTYNXT50 | 71544 | 71814 | 72205 | 72475 | 72866 | 73136 | 73527 |
| Category | Value |
| FII/FPI | -1,025.20Cr |
| DII | +3,516.81Cr |
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