
By: Naresh Sharma | Date : Jun 24, 26
| Category | Net Value |
|---|---|
| DII | +680.21Cr |
| FII/FPI | +17.86Cr |
| INDIA VIX | 13.72(-1.58%) |
As of 10:15 (IST)
| ADVANCE | 1362 |
| DECLINE | 1558 |
As of 10:16 (IST)
Nifty 50 staged a solid mid-week comeback, shaking off an early-morning dip and reclaimed to finish above the crucial 24,000 psychological barrier. The index opened on a hesitant note, hitting an intra day low of 23,789.25, but robust buying sentiment quickly reversed the narrative. Momentum built steadily throughout the day, driving the index to the high of 24,090.05 before it eventually settled at 24,021.65, locking in a strong gain of 0.83%. This upward push was largely supported by encouraging global cues, easing oil prices, and market optimism surrounding a potential India-US trade deal. Sector-wise, banking giants and recovering technology stocks did the heavy lifting, with Trent and ICICI Bank emerging as top performers, whereas Bajaj Auto lagged behind amid news of a system cyberattack.
Bank Nifty index had a powerful recovery during its weekly options expiry session on wiping out the previous day’s steep losses. The Banking index started the day on a weak note, opening at the day’s low of 57,074.90. However, heavy short-covering and aggressive value-buying quickly took over, pushing the index to an intraday high of 58,256.35. By the closing bell, the index settled firmly at 58,150.35 locking in a massive single-day gain of 1.69%. This massive rally was spearheaded by private banking heavyweights, with ICICI Bank and HDFC Bank jumping over 2% each, amid market-friendly macro catalysts including the central bank ruling out near-term rate hikes and lifting specific deposit rate caps.
Nifty IT index had a healthy turnaround, gaining 2.05% to conclude the session at 27,566.70. This positive momentum recouped the prior day’s 2.23% slump, which was attributed to the broader global tech sell-off, lowered revenue forecasts from Accenture, and a JPMorgan report highlighting potential artificial intelligence disruptions. After beginning the trading session at 27,046.40, the sector pushed upward to touch an intraday high of 27,383.95 as market participants hunted for bargains among beaten-down tech stocks. Tech Mahindra anchored the gains with a standout 3.25% jump, while Oracle Financial Services and Infosys followed with strong performances. While other prominent stocks Tata Consultancy Services also enjoyed a profitable session. Only Wipro stood out as the lone laggard, ending the day in the red amid ongoing growth anxieties.
Nifty managed to recoup previous day’s losses and went up to the level of 24,000. But further upside in the index would only be confirmed if the index manages to trade above the mark of 24,100. The index has, however, managed to sustain itself above the mark of 20 and 50 EMA, at 23,782.07 and 23,834.19, respectively. Only if the index falls below this given mark, then only the index would become weaker and may reach 23,800.

| INDICES | CLOSING | %CHANGE | SUPPORT | RESISTANCE |
| NIFTY | 24,013 | 0.83% | 23,600 | 24,100 |
| BANK NIFTY | 58,150.35 | 1.69% | 57,100 | 58,250 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 27,566.70 | 2.05% | 27000 | 28780 |
| NIFTY PHARMA | 25,018.95 | 0.12% | 24,780 | 25,100 |
| NIFTY AUTO | 26,384.35 | -0.42% | 26,230 | 27,100 |
| NIFTY REALTY | 823.55 | 2.17% | 780 | 830 |
| NIFTY ENERGY | 39.908.40 | -0.89% | 39,730 | 40,670 |
| NIFTY FMCG | 49,085.10 | 0.05% | 47,650 | 49,890 |
| Nifty 50 | 24021.65(0.83%) | Nifty Bank | 58150.35(1.69%) |
| Sensex | 76991.22(1.04%) | India Vix | 13.39(-3.95%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| ETERNAL | 2.05% | INFY | -2.69% |
| BHARTIARTL | 1.71% | TCS | -2.18% |
| POWERGRID | 1.35% | TECHM | -1.80% |
| NESTLEIND | 1.22% | HCLTECH | -1.76% |
| NTPC | 1.05% | M&M | -1.74% |

Nifty advanced +0.83%, opening at 23,795.80 and witnessing strong buying interest right from the start. The index rallied sharply, crossed above its 11DMA, and touched an intraday high of 24,090.05, nearly reaching the 24,100 resistance level that was highlighted earlier. Some profit booking emerged near resistance, but Nifty still managed to close firmly at 24,021.65. The trend remains bullish as the index trades above its 11DMA and 30DMA, although it is still below the 200DMA, indicating improving short-term momentum while the broader trend remains cautiously positive. The RSI at 56.24 supports the bullish bias with room for further upside. Immediate resistance is placed at 24,100-24,250, while support is seen at 23,900-23,750. A sustained breakout above 24,100 could accelerate the ongoing recovery.

Bank Nifty surged +1.69%, opening at 57,074.90 and extending its gains throughout the session. Strong buying interest enabled the index to reclaim both the 11DMA and the 200DMA, while it recorded an intraday high of 58,256.35 before closing near the day’s high at 58,150.35. The trend has turned firmly bullish as Bank Nifty now trades above its 200DMA, 30DMA, and 11DMA, reflecting strength across all key timeframes. The RSI at 66.46 indicates healthy bullish momentum, although the index is approaching overbought levels where short-term consolidation cannot be ruled out. Immediate resistance is placed at 58,500-58,850, while support is seen at 57,900-57,600. Holding above 57,900 will keep the bullish structure intact, while a breakout above 58,500 could trigger fresh upside momentum.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 23900 | 24250 | Bullish |
| BANK NIFTY | 57900 | 58500 | Bullish |

Nifty Mid Select (Midcap Nifty) gained +0.24%, opening at 14,482.55 and initially witnessing mild selling pressure before finding support near its 11DMA and the previously identified 14,400 support zone. Buying interest emerged from lower levels, lifting the index to an intraday high of 14,566.40, before it settled at 14,516.40. The trend remains bullish as the index continues to trade above its 200DMA, 11DMA, and 30DMA, indicating that the broader uptrend remains intact. The RSI at 57.02 reflects improving momentum with scope for additional gains. Immediate resistance is placed at 14,600-14,700, while support is seen at 14,400-14,300. A decisive move above 14,600 could lead to another leg higher.

Nifty Realty rallied +2.17%, opening at 804.95 and initially slipping to an intraday low of 801.30 before attracting strong buying interest. The index rebounded sharply, touched an intraday high of 824.80, and closed near the day’s high at 823.55, reflecting improving sentiment in the realty space. The trend has improved to sideways to bullish, and a sustained move above the 20DMA would further strengthen the medium-term outlook. Currently, the index trades above its 11DMA and 30DMA but remains below the 200DMA. The RSI at 62.23 indicates strengthening bullish momentum. Immediate resistance is placed at 835-845, while support is seen at 810-795. A breakout above 835 could confirm a stronger bullish reversal and open the door for further upside.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 14400 | 14700 | Bullish |
| NIFTY REALTY | 810 | 835 | Sideways to Bullish |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 23543 | 23666 | 23844 | 23967 | 24145 | 24268 | 24446 |
| BANKNIFTY | 56217 | 56646 | 57398 | 57827 | 58580 | 59009 | 59761 |
| FINNIFTY | 25906 | 26092 | 26414 | 26600 | 26922 | 27108 | 27430 |
| MIDCPNIFTY | 14570 | 14568 | 14486 | 14484 | 14402 | 14400 | 14318 |
| NIFTYNXT50 | 72332 | 72335 | 72015 | 72018 | 71697 | 71701 | 71380 |
| Category | Net Value |
|---|---|
| DII | +3,637.26Cr |
| FII/FPI | -1,843.40Cr |
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