
By: Moumita Samanta | Date : Jun 8, 26
| Category | Net Value |
|---|---|
| DII | +9,133.57Cr |
| FII/FPI | -8,776.25Cr |
| INDIA VIX | 17.00(+7.66%) |
As of 10:30 (IST)
| ADVANCE | 867 |
| DECLINE | 2147 |
As of 10:30 (IST)
| Nifty 50 | 23123(-1.04%) | Nifty Bank | 54063.75(-0.79%) |
| Sensex | 73524.26(-0.97%) | India Vix | 17.03(7.85%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| MAXHEALTH | 2.95% | WIPRO | -8.45% |
| POWERGRID | 1.52% | JIOFIN | -3.67% |
| BHARTIARTL | 1.22% | ETERNAL | -3.65% |
| BEL | 1.00% | HINDALCO | -3.62% |
| NESTLEIND | 0.99% | SHRIRAMFIN | -3.14% |
Nifty 50 faced selling pressure, opening with a sharp gap-down of over 280 points before settling at 23,123, down 1.04% for the day. The weakness in the market was triggered by negative global catalysts, including escalating geopolitical tensions in the Middle East, a steep tech rout on Wall Street that dragged down Indian IT stocks like Wipro and TCS, and rising Brent crude prices surpassing $95 and reaching $100 per barrel. These factors, alongside positive US jobs data renewing interest-rate fears and heavy banking sector draggers like HDFC Bank, ultimately outweighed domestic institutional buying support, leaving the index technically heavy amid rising market volatility. While the index showed intra-day resilience by rising from a low of 23,070.15 and defending the 23,100 support zone. However, the index is facing resistance near 23,450–23,550, thus trading above the given level only would open the positive path for the index.
The Nifty Bank index mirrored the Nifty’s cautious tone, shedding 432.50 points, to close at 54,063.75. Amid overnight global headwinds and positive US jobs data, the banking index opened with a steep gap-down at 53,853.45 and slipped to an intraday low of 53,843.30, below the crucial support zone of 54,000.The fall in the index was driven by prominent private-sector lenders, with the index’s largest heavyweight, HDFC Bank, sliding 1.12%, closely accompanied by ICICI Bank dropping 0.94%, while Canara Bank emerged as the biggest sectoral laggard with a 2.87% plunge. On the technical front if the index fails to sustain the mark of 54,000 then the index may see the downside level of 53,400.
The Nifty Auto index crashed by 1.85% to settle at 25,681.80, making it the weakest performer on the NSE. The index opened weak at 25,798.60 and bottomed out at an intraday low of 25,615.00, amid a harsh mix of global economic challenges. Intensifying conflicts in the Middle East pushed Brent crude prices near $100 a barrel, sparking fears of rising production costs for automakers and component suppliers. But surprisingly strong employment figures out of the US raised fears that the Federal Reserve might hike interest rates, a move that could trickle down to India and make car loans more expensive for consumers. Hit by this dual threat of shrinking profit margins and a potential drop in sales, major industry players suffered deep losses during the session.
Nifty traded with negative sentiment and lost 1.04% to settle at 23,123. The index is nearing its crucial support of 23,000. Fall below this level would make the index further weak and that could reach 22,920. RSI has also plunged low to 35, thus indicating further weakness in the index. Only if the index sustains above the current level of 23,100, index may reach 23,250. However, the trend for the index is still under pressure.

| INDICES | CLOSING | %CHANGE | SUPPORT | RESISTANCE |
| NIFTY | 23,123 | -1.04% | 23,000 | 23,800 |
| BANK NIFTY | 54,063.75 | -0.79% | 53200 | 54380 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 28,653.55 | -1.23% | 28000 | 29000 |
| NIFTY PHARMA | 24,147.65 | -0.41% | 24,000 | 25,000 |
| NIFTY AUTO | 25,681.80 | -1.85% | 25,485 | 27,100 |
| NIFTY REALTY | 749.2 | -2.56% | 730 | 800 |
| NIFTY ENERGY | 39,685.45 | -1.64% | 39,400 | 40,300 |
| NIFTY FMCG | 48,098.65 | -0.42% | 47,650 | 48,440 |

Nifty declined -1.04%, opening gap-down at 23,080.70 and initially witnessing a recovery towards 23,267.30, but the rebound lacked follow-through buying as sellers re-emerged near resistance levels, dragging the index lower to close at 23,123.00. Technically, Nifty remains in a sideways to bearish trend as it continues to trade below its 11DMA, 30DMA, and 200DMA, indicating persistent weakness in the broader market structure. The RSI at 35.77 has slipped closer to the oversold zone, reflecting deteriorating momentum. Immediate resistance is placed at 23,250-23,450, while support is seen at 23,050-22,800. A break below 23,050 could accelerate downside pressure, whereas a sustained move above 23,250 may trigger short-covering.

Bank Nifty fell -0.79%, opening gap-down at 53,853.45 before staging a strong intraday recovery to 54,455.20, almost exactly near the 30DMA, where it faced resistance and witnessed fresh selling pressure. The index eventually settled at 54,063.75. Compared to Nifty, Bank Nifty displayed relative strength, recovering more sharply from intraday lows and holding key support levels. However, the trend remains sideways to bearish as the index continues to trade below its 200DMA, 30DMA, and 11DMA. The RSI at 46.60 remains below the bullish threshold but indicates stronger momentum than the broader market. Immediate resistance is placed at 54,550-54,850, while support is seen at 53,950-53,500. A breakout above 54,550 could improve the short-term outlook.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 23050 | 23250 | Sideways to Bearish |
| BANK NIFTY | 53950 | 54550 | Sideways to Bearish |

Nifty Mid Select (Midcap Nifty) lost -0.80%, opening gap-down at 13,901.35 before recovering to an intraday high of 14,114.20, where resistance emerged and capped further gains. The index eventually closed at 13,994.75, near the crucial 13,900 support zone. The trend remains sideways, but the technical structure is weakening as the index trades below both its 11DMA and 30DMA, although it remains above the 200DMA. The RSI at 44.75 reflects weakening momentum. Immediate resistance is placed at 14,100-14,300, while support is seen at 13,900-13,700. A sustained break below 13,900 could shift the trend from sideways to bearish, while reclaiming 14,100 would improve sentiment.

Nifty Realty declined sharply by -2.18%, opening gap-down at 760.75 and witnessing persistent selling pressure throughout the session, eventually closing near the day’s lows at 749.20. The sector continues to underperform as the index trades below its 11DMA, 30DMA, and 200DMA, confirming a weak technical setup. The RSI at 40.50 remains in bearish territory, indicating subdued momentum and limited buying interest. Immediate support is placed at 730-710, while resistance is seen at 780-800. The overall trend remains sideways to bearish, and a sustained move above 780 would be required to improve the outlook, while a break below 730 could lead to further downside pressure.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 13900 | 14100 | Sideways |
| NIFTY REALTY | 730 | 780 | Sideways |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 22843 | 22956 | 23040 | 23153 | 23237 | 23351 | 23434 |
| BANKNIFTY | 53174 | 53509 | 53786 | 54121 | 54398 | 54733 | 55010 |
| FINNIFTY | 24492 | 24613 | 24709 | 24830 | 24926 | 25048 | 25144 |
| MIDCPNIFTY | 13639 | 13758 | 13876 | 13995 | 14114 | 14232 | 14351 |
| NIFTYNXT50 | 67385 | 68037 | 68506 | 69158 | 69627 | 70280 | 70749 |
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| Category | Net Value |
|---|---|
| DII | +5,165.24Cr |
| FII/FPI | -5,555.67Cr |

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