
By: Moumita Samanta | Date : Jun 9, 26
| Category | Net Value |
|---|---|
| DII | +5,165.24Cr |
| FII/FPI | -5,555.67Cr |
| INDIA VIX | 16.19(-4.93%) |
As of 11:07 (IST)
| ADVANCE | 2237 |
| DECLINE | 789 |
As of 11:10 (IST)
Nifty 50 had a positive session, managing to snap its recent losing streak and posted a modest recovery. Nifty opened gap-up at 23,259.05 after 1% decline in the previous session. The positivity in the index was supported by stabilizing global cues, a pullback in Brent crude oil prices to $94 per barrel, and reports of paused military actions in West Asia. Despite persistent selling pressure from Foreign Institutional Investors, robust support from Domestic Institutional Investors prevented a breakdown below the psychological 23,000 mark, guiding the index to trade above the mark of 23,200. The day’s recovery was primarily spearheaded by heavyweights and select gainers like IndiGo, which surged over 4%, alongside Trent, Grasim Industries, Power Grid, and Bajaj Finance. The overall technical outlook is cautiously optimistic as long as the index is trading above the 23,000–23,050 support zone.
Bank Nifty, made a strong comeback, and gained over 2% during the session hitting the intraday high of 55,318.35. The index opened higher at 54,265.00 and stayed resilient, amid steady buying from institutional players. Investors felt a wave of relief amid easing tensions in West Asia and the RBI rolling out fresh operational details on its foreign currency deposit swap schemes. Positivity in the market pushed the index to an intraday high before it wrapped up the day comfortably near its peak, solidifying its base around the 54,300 mark. The rally was largely supported by the sector’s heavy hitters. On the technical front, Bank Nifty has a base at the level of 54,300. On the higher side, sustainable trading above the mark of 55,300 would open the door for the upside destination of 55,700.
Nifty Auto index bounced back from Monday’s decline, which had been triggered by sluggish monthly retail data. Euphoria in the market was seen amid West Asian geopolitical friction paused and crude oil prices dropping back to the $94 mark, giving the index a head start to open higher at 25,937.20. Buyers stepped in from the beginning, ensuring the index respected the level of 25,807.95 before driving it up to a peak of 26,115.45. Both individual investors and large institutions showed interest in the car manufacturers and component suppliers alike, helping the sector easily beat the broader market’s average gains. Fueled by particularly strong buying in passenger cars and two-wheelers, Nifty Auto ended the day with a robust jump of more than 1.34%, reclaiming the crucial 26,000 level.
Nifty traded with positive bias and managed to trade above the mark of 23,200. Thus if the index continues to trade above the mark of 23,370, then we may see the index reaching the next upside destination of 23,500. Strength in INR along with positivity in the mark amid easing geo political tension brought back energy in the market. But in index falls below 23,200, then we may see some weakness in the index towards the level of 23,000.

| INDICES | CLOSING | %CHANGE | SUPPORT | RESISTANCE |
| NIFTY | 23,242.10 | 0.52% | 23,000 | 23,800 |
| BANK NIFTY | 54,194.50 | 2.09% | 53200 | 54380 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 28,516.25 | -0.48% | 28000 | 29000 |
| NIFTY PHARMA | 26,549.80 | 1.64% | 26,000 | 26,850 |
| NIFTY AUTO | 26,025.65 | 1.34% | 25,485 | 27,100 |
| NIFTY REALTY | 761.4 | 1.63% | 730 | 800 |
| NIFTY ENERGY | 39,752.95 | 0.17% | 39,400 | 40,300 |
| NIFTY FMCG | 48,447.40 | -0.42% | 47,650 | 48,650 |
| Nifty 50 | 23242.1(0.52%) | Nifty Bank | 55194.5(2.09%) |
| Sensex | 73918.76(0.54%) | India Vix | 15.58(-8.53%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| INDIGO | 3.95% | TITAN | -2.20% |
| JIOFIN | 2.33% | ONGC | -1.93% |
| SBIN | 2.26% | NTPC | -1.78% |
| AXISBANK | 2.07% | POWERGRID | -1.65% |
| ICICIBANK | 2.06% | ETERNAL | -1.15% |

Nifty gained +0.52%, opening gap-up at 23,259.05 but initially witnessed selling pressure that dragged the index to an intraday low of 23,104.45, almost exactly near the anticipated support zone of 23,050. Strong buying interest emerged from lower levels, helping the index recover to an intraday high of 23,279.40 before closing at 23,242.10. Despite the recovery, the trend remains sideways to bearish as Nifty continues to trade below its 11DMA, 30DMA, and 200DMA, indicating that the broader market structure remains weak. The RSI at 39.58 has improved slightly but remains in bearish territory. Immediate resistance is placed at 23,250-23,450, while support lies at 23,050-22,800. A sustained move above 23,250 could trigger further short-covering, whereas a break below 23,050 may revive selling pressure.

Bank Nifty surged +2.09%, opening gap-up at 54,265 and witnessing strong buying momentum throughout the session. The index consistently breached intraday highs, reclaimed both the 11DMA and 30DMA, and closed near the day’s high at 55,194.50, clearly outperforming Nifty. Technically, the trend has turned bullish, as the index has regained key short-term moving averages, although it still remains below the 200DMA. The RSI at 55.48 has moved firmly above the neutral zone, reflecting strengthening momentum. Immediate resistance is placed at 55,555-56,300, while support is seen at 54,850-54,500. A decisive move above 55,555 could extend the rally further and improve the broader outlook.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 23050 | 23250 | Sideways to Bearish |
| BANK NIFTY | 54850 | 55555 | Bullish |

Nifty Mid Select (Midcap Nifty) advanced +1.33%, opening gap-up at 14,071.60 and witnessing steady buying throughout the session. The index successfully broke above the 14,100 resistance level highlighted previously, which subsequently acted as support during intraday consolidation. In the final hour, a breakout from the range pushed the index to an intraday high of 14,201.75, before it closed strong at 14,180.80. The trend remains sideways to bullish, and a sustained move above the 11DMA and 30DMA could further strengthen the technical setup. The RSI at 50.87 has crossed back above the neutral mark, indicating improving momentum. Immediate resistance is placed at 14,300-14,450, while support is seen at 14,050-13,900. Holding above 14,100 remains crucial for maintaining the recovery.

Nifty PSU Bank rallied +3.62%, opening at 8,221.55 above the 11DMA and witnessing strong buying interest throughout the session. The index decisively crossed above both the 200DMA and 30DMA, extending its gains by nearly 300 points before closing near the day’s high at 8,496.60. The trend has turned bullish, supported by the reclaiming of all major moving averages and improving market participation. The RSI at 58.71 reflects strengthening momentum and growing bullish sentiment. However, after such a sharp rally, some near-term profit booking cannot be ruled out. Immediate support is placed at 8,300-8,150, while resistance is seen at 8,650-8,760. A sustained move above 8,650 could pave the way for further upside in the sector.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 14050 | 14300 | Sideways to Bullish |
| NIFTY PSUBANK | 8300 | 8650 | Bullish |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 22963 | 23034 | 23138 | 23209 | 23313 | 23384 | 23488 |
| BANKNIFTY | 53442 | 53842 | 54518 | 54918 | 55594 | 55994 | 56671 |
| FINNIFTY | 24664 | 24781 | 24967 | 25083 | 25269 | 25385 | 25571 |
| MIDCPNIFTY | 13963 | 14015 | 14098 | 14150 | 14233 | 14285 | 14367 |
| NIFTYNXT50 | 68748 | 69030 | 69488 | 69770 | 70228 | 70510 | 70968 |
In this weekly expiry wrap-up show, we analyze how the market perfectly respected our pre-calculated technical boundaries, with Nifty 50 opening gap up at 23,259.05 before immediate selling from the 23,250 resistance zone dragged it to a low of 23,104—right at our pinpoint support level. Head of Research Naresh Sharma breaks down the blockbuster 1,000+ point vertical rally in Bank Nifty, which gained over 2% today as India VIX crashed a massive 8.5% down to 15.56, sparking intense short-covering.
| Category | Net Value |
|---|---|
| DII | +6,159.48Cr |
| FII/FPI | -4,566.03Cr |
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

The Indian stock market witnessed one of its sharpest single-day falls today, May 11, 2026....
Nifty दिन के High से नीचे गिरा। 20 May के लिए प्रमुख Level क्या हैं...
Nifty 50 ended with a marginal gain of 0.14%, closing at 23,412.95 points. This modest...
Expiry Day Volatility! Nifty Near 24K | Rupee at Record Low | Crude Above $105...

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