
By: Moumita Samanta | Date : Jun 23, 26
| Category | Net Value |
|---|---|
| DII | +1,035.72Cr |
| FII/FPI | -635.91Cr |
| INDIA VIX | 12.47(-2.88%) |
As of 10:15 (IST)
| ADVANCE | 1662 |
| DECLINE | 1296 |
As of 10:17 (IST)
| Nifty 50 | 23824.1(-1.16%) | Nifty Bank | 57183.75(-1.3%) |
| Sensex | 76200.68(-1.16%) | India Vix | 13.94(8.57%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| ETERNAL | 2.05% | INFY | -3.42% |
| BHARTIARTL | 1.71% | TCS | -3.21% |
| POWERGRID | 1.35% | TECHM | -3.19% |
| NESTLEIND | 1.22% | HCLTECH | -3.10% |
| NTPC | 1.05% | M&M | -3.10% |
Nifty 50, ended the day down by 1.16% to settle at 23,824.10. The index began the morning on steady ground, kicking off at 24,071.30 and climbing to a peak of 24,135.50. However, the momentum shifted heavily as selling pressure mounted, dragging the index down to a low of 23,784.95. This decline was largely driven by a rough day for IT stocks, which plummeted nearly 2% because of worries over global tech spending. In the end, a final afternoon drop broke through crucial support marks, wiping out the gains from the previous day and leaving the Nifty 278.80 points in the red. Thus, if the index fails to sustain above 23,800, it may see the level of 23,600 amid consistent FII selling, strength in dollar index and continuous weakness in Rupee.
The Nifty Bank index stayed within a tight range as it felt the heat from the broader market’s weakness. Things started on a steady note, with major private players like ICICI Bank lending enough support to keep the gauge floating around the 57,868 mark. That stability didn’t last. A wave of global caution combined with heavy late-day selling by big institutions rattled the entire market, which pulled the Banking index down by 1.30% to settle at the level of 57,183.75. While crucial technical floors managed to keep the index from completely bottoming out, the late-afternoon rush of triggered stop-losses proved too heavy to fight, forcing the banking sector to close slightly in the red just ahead of its own weekly derivatives deadline.
Nifty Pharma index stood out as a major winner in an otherwise weak market, climbing 0.92% to settle at 24,989.95 after touching a peak of 25,294.50 during the day. This gain marked the fourth straight winning session, completely resisting the selloff that hit the rest of the market. Investors driving this rally were shifting their money out of struggling IT stocks and into safer healthcare bets. Confidence was also lifted by reports that the US FDA had reached out to Indian pharmaceutical companies to assist with urgent drug shortages in America. Industry giants spearheaded the upward move, with Cipla jumping 1.23%, Dr. Reddy’s advancing 0.79%, and Sun Pharma ticked up to the high of rs1902.40, cementing the sector’s position as the day’s top performer.
Nifty failed to sustain the level of 24,000 and has plunged below its crucial support of 23,800, to settle the day down by 1.28% .If index continues to austin below 23,800, the next downside destination would be the level of 23,600. Upside in the index can only be confirmed with index closing and sustaining above the mark of 24,200.Index has plunged below the mark of 50 EMA at 23,825.42. Further slip below the 20 EMA at 23,755.26 would confirm the weakness in the index which may reach 23,600.

| INDICES | CLOSING | %CHANGE | SUPPORT | RESISTANCE |
| NIFTY | 23,824 | -1.16% | 23,600 | 24,000 |
| BANK NIFTY | 57,183.75 | -1.30% | 56,950 | 57,790 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 27,012.05 | -2.23% | 27000 | 28780 |
| NIFTY PHARMA | 24,989.95 | 0.92% | 24,780 | 25,100 |
| NIFTY AUTO | 26,496.60 | -0.77% | 26,400 | 27,100 |
| NIFTY REALTY | 806.05 | -1.12% | 780 | 830 |
| NIFTY ENERGY | 40,268.70 | -1.24% | 40,100 | 40,670 |
| NIFTY FMCG | 49,059.05 | 0.60% | 47,650 | 49,890 |

Nifty50 lost -1.16%, opening at 24071.30 and closing at 23824.10, as it faced stiff resistance at higher levels which triggered a sharp bout of profit booking. Technically, the trend has shifted to bearish in the short term, with the index continuing to trade below its 200-DMA, though it manages to hold above the 11-DMA and 30-DMA for now. The RSI has cooled off to 51.91, indicating fading upward momentum and a shift toward a more cautious environment. Immediate resistance is now lower at 23950–24110, while crucial support lies at 23710–23550. A failure to defend 23710 could accelerate the downward momentum, whereas a move back above 23950 is required to arrest the current slide.

Bank Nifty declined by -1.30%, opening at 57886.75 and closing at 57183.75, mirroring the broader market as it encountered strong resistance at higher zones and witnessed intense profit booking. The overall trend has cooled to sideways to bearish after the recent run-up. Structurally, Bank Nifty remains in a relatively stronger spot compared to the benchmark index as it continues to trade above its 200-DMA, 11-DMA, and 30-DMA. The RSI has moderated to 60.97, pulling back from near-overbought territories to show easing momentum. Immediate resistance is positioned at 57350–57950, while the immediate support range is seen at 56925–56500, where buyers might attempt to form a floor.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 23550 | 24110 | Bearish |
| BANK NIFTY | 56500 | 57950 | Sideways to Bearish |

Nifty Mid Select (Midcap Nifty) dropped -1.02%, opening at 14655.70 and closing the session at 14481.55 due to broad-based selling pressure. The short-term trend has transitioned to sideways to bearish following this correction. The index maintains its position above key moving averages, trading comfortably higher than its 200-DMA, 11-DMA, and 30-DMA, which suggests the intermediate structure isn’t entirely broken. The RSI has fallen to 56.02, reflecting a substantial reduction in bullish strength. Immediate resistance is identified at 14600–14700, while immediate support is now placed at 14400–14280, a zone that must be held to avoid a deeper correction into the midcap space.

Nifty Metal plunged sharply by -3.22%, opening at 12987.70 and closing weak near the lows of the day at 12669.10, making it one of the worst-performing sectors of the session. The trend has turned sideways to bearish, signaling significant short-term damage as the index slipped below its 11-DMA and 30-DMA, though it managed to hold above its long-term 200-DMA. The RSI has weakened rapidly to 40.18, confirming an aggressive loss of momentum and indicating that bears are currently in control. Immediate resistance has moved down to 12850–13100, while support is now expected further lower around the 12500–12300 range.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 14280 | 14700 | Sideways to Bearish |
| NIFTY IND DEFENCE | 12300 | 13100 | Sideways to Bearish |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 23344 | 23564 | 23694 | 23915 | 24045 | 24265 | 24395 |
| BANKNIFTY | 55959 | 56519 | 56851 | 57411 | 57744 | 58303 | 58636 |
| FINNIFTY | 25769 | 26026 | 26177 | 26434 | 26586 | 26843 | 26995 |
| MIDCPNIFTY | 14198 | 14329 | 14405 | 14537 | 14613 | 14745 | 14821 |
| NIFTYNXT50 | 70538 | 71246 | 71657 | 72365 | 72776 | 73484 | 73895 |
| Category | Net Value |
|---|---|
| DII | +680.21Cr |
| FII/FPI | +17.86Cr |
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