
By: Naresh Sharma | Date : Jun 29, 26
| Category | Net Value |
|---|---|
| DII | +5,747.75Cr |
| FII/FPI | +383.76Cr |
| INDIA VIX | 13.52(+3.60%) |
As of 10:15 (IST)
| ADVANCE | 1343 |
| DECLINE | 1670 |
As of 10:17 (IST)
Nifty 50 experienced a volatile session closing in the red by giving up its early morning gains to finish down 109.75 points at 23,946.25. After starting with a mild positive bias at 24,061.75 and reaching to an intraday high of 24,120.00, the index faced severe pressure amid cross-index volatility from the Sensex monthly options expiry and lingering weekend geopolitical tensions in the Middle East. This selling pressure forced the index to settle below the critical psychological level of 24,000. While defensive sectors like healthcare, led by Dr. Reddy’s and Cipla, along with retail major Trent showed resilience, they were ultimately outweighed by heavy profit-booking in Adani Enterprises, Indigo, and key automotive stocks. As per the technical chart, closing below 24,000 dampens immediate bullish momentum, making the 23,950 zone a crucial support area for the index to defend in the upcoming sessions.
Bank Nifty closely tracked the market’s turbulent behavior, wrapping up the trading day nearly with a dip of 0.77% at 57,727.35. Coming back from an extended three-day weekend following the Muharram holiday, the banking index showed early strength and climbed to a peak of 58,318.05, buoyed by morning gains in key heavyweights like HDFC Bank and Axis Bank along with a rise in Yes Bank. This initial momentum dissolved in the afternoon as institutional fund rebalancing ahead of the upcoming massive triple derivatives expiry triggered a sharp sell-off, pulling the index down to a session low of 57,637.25. The downward move was led by Kotak Mahindra Bank, which dropped 3.30% as the day’s worst performer amid updates regarding its CEO transition, with further weakness from AU Small Finance Bank and Canara Bank locking the sectoral index into a tight consolidation phase just above its critical 57,900 support level.
The Nifty Auto index faced selling pressure, emerging as one of the primary laggards of the day by plunging 560.15 points, to close at 26,417.60. Returning from a long three-day weekend the index opened slightly lower at 26,858.20 compared to its previous close of 26,977.75. It touched an early session high of 26,978.40 before succumbing to heavy profit-booking. The sector was heavily weighed down by macro anxieties, including heightened weekend geopolitical uncertainties that threatened to spike global crude oil prices, amid US-Ira tension. This relentless afternoon slide pushed Nifty Auto down to a stark intraday low of 26,334.75, decisively breaking past its immediate technical support level of 26,750 and forcing the automotive gauge into a vulnerable short-term correction zone.
Nifty failed to sustain above the mark of 24,000. But further upside in the index would only be confirmed if the index manages to trade above the mark of 24,000. The index has, however, managed to sustain itself above the mark of 20 and 50 EMA, at 23,809.53 and 23,843.21, respectively, closing at 23,946.25, above its psychological support of 23,800. Only if the index falls below this given mark, then only the index would become weaker and may reach 23,600.

| INDICES | CLOSING | %CHANGE | SUPPORT | RESISTANCE |
| NIFTY | 23,946 | -0.46% | 23,800 | 24,100 |
| BANK NIFTY | 57,727.35 | -0.77% | 57,100 | 58,250 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 27,038.05 | -1.07% | 27000 | 28780 |
| NIFTY PHARMA | 25,227.90 | -0.20% | 24,780 | 25,400 |
| NIFTY AUTO | 26,417.60 | -2.08% | 26,230 | 27,100 |
| NIFTY REALTY | 818.85 | -0.90% | 780 | 830 |
| NIFTY ENERGY | 39,718.00 | 0.20% | 39,510 | 40,670 |
| NIFTY FMCG | 49,127.65 | -0.59% | 47,650 | 49,890 |

Nifty declined –0.46%, opening at 24,061.75 and spending the early part of the session in a narrow range. The index later broke below the intraday range, slipped beneath its 11-DMA, and tested the 23,900 support zone, which held as anticipated. A mild recovery from lower levels helped Nifty close at 23,977.00. The trend remains sideways, although short-term momentum has weakened after the index slipped below the 11-DMA. Nifty continues to trade below the 200-DMA but above the 30-DMA, indicating that the medium-term recovery remains intact despite near-term weakness. The RSI at 54.74 continues to reflect a mildly positive momentum. Immediate resistance is placed at 24,050–24,250, while support is seen at 23,850–23,750. A sustained move above 24,050 could revive bullish momentum, whereas a break below 23,850 may trigger further profit booking.

Bank Nifty fell –0.77%, opening at 58,191.45 and remaining under selling pressure throughout the session. The index gradually declined to an intraday low of 57,637.25 before settling at 57,727.35. Despite the correction, the trend remains sideways to bullish as Bank Nifty continues to trade above its 200-DMA, 30-DMA, and 11-DMA, indicating that the broader uptrend remains intact. The RSI at 61.92 reflects healthy momentum despite the day’s pullback. Immediate resistance is placed at 58,200–58,700, while support is seen at 57,500–57,050. Holding above 57,500 would keep the bullish structure intact, while a breakout above 58,200 could resume the upward move.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 23850 | 24050 | Sideways |
| BANK NIFTY | 57500 | 58200 | Sideways to Bullish |

Nifty Mid Select (Midcap Nifty) lost -0.47%, opening at 14,414.90 and witnessing selling pressure during the first half of the session. The index slipped below its 11DMA and tested the 14,300 support zone, where buying interest emerged as anticipated, helping it recover and close at 14,367.40. The trend remains Sideways, although the short-term structure has weakened after the index moved below the 11DMA. It continues to trade above the 200DMA and 30DMA, indicating that the broader trend remains positive. The RSI at 57.02 suggests that momentum remains supportive despite the recent consolidation. Immediate resistance is placed at 14,500-14,600, while support is seen at 14,300-14,210. A sustained move above 14,500 could restore bullish momentum, while a break below 14,300 may lead to a deeper pullback.

Nifty India Defence edged lower by -0.05%, opening at 9,376.45 and initially witnessing sharp selling pressure that dragged the index to an intraday low of 9,266.25. Buyers stepped in from lower levels, lifting the index to an intraday high of 9,467.45, but it failed to hold those gains and closed at 9,391.00, below its 11DMA. The trend remains sideways to bullish, with the broader structure still constructive as the index continues to trade above its 200DMA and 30DMA, despite slipping below the 11DMA. The RSI at 55.75 indicates that momentum remains moderately positive. Immediate support is placed at 9,250-9,160, while resistance is seen at 9,480-9,600. A breakout above 9,480 could revive the bullish trend, whereas a breach below 9,250 may increase short-term selling pressure.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 14300 | 14500 | Sideways |
| NIFTY IND DEFENCE | 9250 | 9480 | Sideways to Bullish |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 23678 | 23801 | 23874 | 23997 | 24069 | 24192 | 24265 |
| BANKNIFTY | 56790 | 57213 | 57470 | 57894 | 58151 | 58575 | 58832 |
| FINNIFTY | 26158 | 26362 | 26480 | 26684 | 26802 | 27005 | 27124 |
| MIDCPNIFTY | 14395 | 14422 | 14360 | 14388 | 14326 | 14353 | 14291 |
| NIFTYNXT50 | 71749 | 72007 | 71662 | 71921 | 71575 | 71834 | 71489 |
| Category | Net Value |
|---|---|
| DII | +2,801.45Cr |
| FII/FPI | -1,350.10Cr |
Investment in securities markets is subject to market risks. Please read all related documents carefully before investing. (Our SEBI Reg. No. INH000010335)
For Full Disclaimer: Click Here

FII/FPI & DII trading activity NSE, BSE and MSEI in Capital Market Segment : FII/FPI...
FII/FPI & DII trading activity on NSE, BSE and MSEI in Capital Market Segment: 08th June...
Expiry Day Volatility! Nifty Near 24K | Rupee at Record Low | Crude Above $105...
Equity Market Technical Analysis Snapshot: Apr 28th, 2026 • Nifty slipped -0.33%, opening at 24,049.90...

IT'S TIME TO HAVE SOME FUN!
Your family deserves this time more than we do.
Share happiness with your family today & come back soon. We will be right here.
Investment to ek bahana hai,
humein to khushiyon ko badhana hai.
E-mail
askus@rmoneyindia.com
Customer Care
+91-9568654321