
By: Naresh Sharma | Date : Jun 22, 26
| Category | Net Value |
|---|---|
| DII | -1,159.64Cr |
| FII/FPI | +4,859.07Cr |
| INDIA VIX | 12.99(+0.15%) |
As of 10:18 (IST)
| ADVANCE | 2196 |
| DECLINE | 823 |
As of 10:19 (IST)
Nifty 50 made a comeback on Monday, climbing to the intra day high of 24,168.05 mark. After starting the day at 24,106.60, the benchmark comfortably crossed the vital 24,100 threshold as investor confidence returned, before settling the day at 24,102.90. This upward swing was largely sparked by positive international cues, notably a strong tech performance on Wall Street and a rally in Asian markets triggered by progress in US-Iran diplomatic talks. On the domestic front, the market found further strength as local IT stocks stabilized after their recent selloff, international crude oil prices softened below $80 a barrel, and major pharma and energy giants particularly Cipla and Reliance Industries powered the day’s gains.
Bank Nifty mirrored the broader market’s momentum, closing 249.85 points higher at 57,935.60. The banking benchmark started the session with a positive bias, opening at 57,906.90. This steady upward movement was heavily anchored by private sector heavyweights, with HDFC Bank climbing over 0.85% to ₹786.40 and ICICI Bank tracking higher by 0.44% to ₹1,352.40. Because banking equities remained largely immune to the previous week’s extreme volatility in the IT sector, and with a stable India VIX keeping market panic at bay. On the technical front, Banking Index defended the 57,500 support floor while setting their sights on a potential breakout past the 58,000 psychological resistance level.
Nifty Pharma index outperformed the broader market with a powerful 1.24% surge. The healthcare tracker added 302.60 points to settle at a robust 24,762.90, rebounding sharply after an early intraday low of 24,468.40. This aggressive buying was largely triggered by a defensive rotation. Domestic market sentiment was further bolstered by a stronger rupee, which effectively cut down import expenses for crucial raw ingredients. Individual stock performances were spearheaded by Cipla, which skyrocketed 4.73% to end at ₹1,415.70, while Dr. Reddy’s Laboratories provided significant secondary support with a 2.03% gain, collectively helping the entire index out of its recent slump.
Nifty traded with positive bias and managed to touch the intra day high of 24,168.05. Index must sustain the level of 24,100 and trade above the same, to touch the next upside destination of 24,350. However, failure to sustain above 24,100, would put short term pressure on 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 50 | 24102.9(0.37%) | Nifty Bank | 57935.6(0.43%) |
| Sensex | 77094.07(0.38%) | India Vix | 12.84(-0.98%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| ETERNAL | 2.05% | INFY | -2.20% |
| BHARTIARTL | 1.71% | TCS | -1.20% |
| POWERGRID | 1.35% | TECHM | -1.05% |
| NESTLEIND | 1.22% | HCLTECH | -0.99% |
| NTPC | 1.05% | M&M | -0.93% |

Nifty gained +0.37%, opening gap-up at 24,106.60 and touching an intraday high of 24,168.05. The index remained confined to a narrow 70-point range for most of the session before witnessing selling pressure in the final trading hour, resulting in a downside break of the intraday range and a close at 24,102.90. Despite the late-session weakness, the trend remains bullish as Nifty continues to trade above its 11-DMA and 30-DMA, although it is still below the 200-DMA, indicating improving short-term momentum within a cautiously positive broader structure. The RSI at 59.65 reflects healthy bullish momentum. Immediate resistance is placed at 24,250–24,400, while support is seen at 24,000–23,900. Holding above 24,000 will be important to maintain the current positive bias, while a sustained breakout above 24,250 could trigger the next leg of the rally.

Bank Nifty advanced +0.43%, opening at 57,906.90 and initially slipping to an intraday low of 57,720.10 before attracting strong buying interest. The index recovered steadily to touch an intraday high of 58,009.10, briefly crossing the psychological 58,000 mark, but failed to sustain above it and eventually closed at 57,935.60. The trend remains bullish as Bank Nifty continues to trade comfortably above its 200-DMA, 30-DMA, and 11-DMA, confirming a strong technical setup. The RSI at 69.14 is approaching the overbought zone, suggesting that while the primary trend remains positive, some near-term consolidation or profit booking cannot be ruled out. Immediate resistance is placed at 58,100–58,500, while support is seen at 57,650–57,300. A decisive move above 58,100 could extend the ongoing rally toward higher levels.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 24000 | 24250 | Bullish |
| BANK NIFTY | 57650 | 58100 | Bullish |

Nifty Mid Select (Midcap Nifty) edged higher by +0.08%, opening at 14,687.90 before witnessing mild profit booking that pushed the index to an intraday low of 14,598.05. Thereafter, the index traded in a narrow range and eventually closed at 14,630.55. The trend remains bullish as the index continues to trade above its 200-DMA, 11-DMA, and 30-DMA, indicating sustained strength despite the ongoing consolidation. The RSI at 61.72 reflects healthy momentum and suggests that the broader uptrend remains intact. Immediate resistance is placed at 14,770–14,990, while support is seen at 14,550–14,400. A sustained breakout above 14,770 could pave the way for further upside.

Nifty India Defence rallied +1.47%, opening gap-up at 9,637.60 and initially witnessing mild weakness before finding buying support. After consolidating for most of the session, the index saw strong buying emerge in the final trading hour, resulting in a breakout from the intraday range and a fresh all-time high of 9,745.65, before closing firmly at 9,728.70. The trend remains strongly bullish as the index continues to trade above its 11-DMA, 30-DMA, and 200-DMA, confirming strength across all major timeframes. The RSI at 69.53 indicates robust bullish momentum and is approaching the overbought zone, suggesting that while the uptrend remains intact, some short-term consolidation cannot be ruled out. Immediate support is placed at 9,620–9,550, while resistance is seen at 9,850–9,990. A sustained move above 9,850 could lead to another leg higher in the ongoing bullish trend.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 14550 | 14770 | Bullish |
| NIFTY IND DEFENCE | 9620 | 9850 | Bullish |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 23966 | 24020 | 24061 | 24115 | 24156 | 24210 | 24251 |
| BANKNIFTY | 57478 | 57599 | 57767 | 57888 | 58056 | 58177 | 58345 |
| FINNIFTY | 26384 | 26444 | 26515 | 26575 | 26645 | 26705 | 26776 |
| MIDCPNIFTY | 14479 | 14539 | 14585 | 14644 | 14690 | 14749 | 14795 |
| NIFTYNXT50 | 71763 | 72053 | 72563 | 72852 | 73362 | 73651 | 74162 |
| Category | Net Value |
|---|---|
| DII | +1,035.72Cr |
| FII/FPI | -635.91Cr |
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