
By: Moumita Samanta | Date : Jun 10, 26
| Category | Value |
| FII/FPI | -4,566.03Cr |
| DII | +6,159.48Cr |
| INDIA VIX | 15.61(+0.19%) |
As of 10:25(IST)
| ADVANCE | 1486 |
| DECLINE | 1486 |
As of 10:33(IST)
| Nifty 50 | 23214.95(-0.12%) | Nifty Bank | 55100.3(-0.17%) |
| Sensex | 73983.18(0.09%) | India Vix | 15.63(0.37%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| NESTLEIND | 1.95% | HINDALCO | -3.41% |
| HINDUNILVR | 1.85% | COALINDIA | -3.34% |
| AXISBANK | 1.67% | ONGC | -2.74% |
| KOTAKBANK | 1.65% | ETERNAL | -2.36% |
| ICICIBANK | 1.41% | SBILIFE | -2.32% |

Nifty slipped -0.12%, opening at 23,233.95 and initially moving higher to an intraday high of 23,425.35, almost exactly near the 23,450 resistance zone highlighted earlier. As anticipated, selling pressure emerged from the resistance area, causing the index to surrender its gains and close lower at 23,216.45. The trend remains sideways to bearish as Nifty continues to trade below its 11DMA, 30DMA, and 200DMA, reflecting persistent weakness in the broader market structure. The RSI at 39.01 remains in bearish territory, indicating weak momentum. Immediate resistance is placed at 23,250-23,450, while support lies at 23,050-22,800. A decisive break below 23,050 could accelerate downside pressure, while a move above 23,450 would be needed to improve the short-term outlook.

Bank Nifty declined -0.17%, opening at 55,110.50 and rallying to an intraday high of 55,555.85, precisely near the 55,555 resistance level that was anticipated. The index faced profit booking from higher levels and eventually closed almost flat at 55,104.30. Despite the decline, Bank Nifty continues to display relative strength compared to Nifty, as it remains above its 11DMA and 30DMA, although it is still below the 200DMA. The trend remains bullish, while the RSI at 54.66 continues to support positive momentum. Immediate resistance is placed at 55,555-56,300, while support is seen at 54,450-53,800. Sustaining above 54,450 keeps the bullish structure intact, while a breakout above 55,555 could extend the ongoing recovery.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 23050 | 23450 | Sideways to Bearish |
| BANK NIFTY | 54450 | 55555 | Bullish |

Nifty Mid Select (Midcap Nifty) witnessed sharp profit booking, falling -1.34% after opening at 14,198.10. The index faced resistance near the 30DMA (14,229.47) and subsequently came under selling pressure, slipping to an intraday low of 13,960.80, where it also closed. The trend has weakened to sideways to bearish, and a sustained break below 13,900 could trigger a deeper correction. The index continues to trade above its 200DMA but below both the 11DMA and 30DMA, reflecting a deteriorating short-term structure. The RSI at 45.36 has weakened further, indicating fading momentum. Immediate resistance is placed at 14,100-14,250, while support is seen at 13,900-13,700. Holding 13,900 remains crucial to prevent a broader trend reversal.

Nifty FMCG gained +1.05%, opening at 48,484.15 and witnessing strong buying interest after reclaiming the 11DMA. The index rallied sharply by nearly 1,000 points during the session and touched an intraday high near 49,439.55 before witnessing some profit booking and settling at 48,957. While the broader trend remains bearish, the strong move suggests that short-term bullish momentum cannot be ruled out, especially after reclaiming the 11DMA. The index continues to trade above the 11DMA but below the 30DMA and 200DMA, indicating that a complete trend reversal is yet to be confirmed. The RSI at 44.58 has improved but remains below the bullish threshold. Immediate support is placed at 48,600-47,900, while resistance is seen at 49,400-50,050. A sustained move above 49,400 could strengthen the recovery and improve the medium-term outlook.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 14050 | 14300 | Sideways to Bullish |
| NIFTY FMCG | 48600 | 49400 | Bullish |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 22884 | 23034 | 23125 | 23275 | 23365 | 23516 | 23606 |
| BANKNIFTY | 54369 | 54698 | 54899 | 55227 | 55429 | 55757 | 55958 |
| FINNIFTY | 24706 | 24902 | 25054 | 25250 | 25402 | 25598 | 25750 |
| MIDCPNIFTY | 13635 | 13798 | 13895 | 14057 | 14154 | 14317 | 14414 |
| NIFTYNXT50 | 67733 | 68366 | 68760 | 69394 | 69788 | 70422 | 70816 |
Nifty 50 experienced a highly volatile session, closing marginally lower by -0.12% at 23,214.95 after wiping out strong morning gains. The index initially opened higher and went to an intraday high of 23,425.35, despite escalating geopolitical tensions in the Middle East, including overnight U.S. air strikes near the Strait of Hormuz. However, profit-booking in the afternoon ahead of crucial U.S. inflation data and the domestic weekly F&O expiry dragged the index down to a low of 23,184.60. Solid gains in defensive heavyweights like Hindustan Unilever and major private lenders like Axis Bank and ICICI Bank managed to cap the downside, while a sell-off in IT stocks led by Infosys and metal giants like Tata Steel dragged the broader index into the red.
Bank Nifty made a net loss of 94.20 points on daily basis at 55,100.30. The morning actually started on a bright note. The private lenders acted as a support against the scary geopolitical news coming out of the Middle East, with Axis Bank gaining 1.67%, Kotak Mahindra Bank added 1.65%, and ICICI Bank also added 1.41% to lead the charge. But, all that early euphoria vanished as the traders panicked and started booking in profits ahead of the upcoming U.S. inflation report and tomorrow’s local options expiry, triggering a sharp afternoon collapse that dragged the index all the way back down to finish just below where it started.
NIFTY Energy sector took a heavy beating as the index plunged by 803.65 points to finish at 38,949.30. The day started at a steady note at 39,770.10 and went up to a high of 39,829.20. But a sudden drop in global oil prices, with Brent crude tumbling under $92 a barrel, pinched investors who worried about the shrinking profit margins for major oil and gas extraction companies. This sparked a wave of afternoon selling that dragged the index down to a low of 38,890.70. Major players like ONGC took the hardest hit. The widespread sell-off completely overshadowed any positive news that included a massive renewable energy block deal for Adani Green and fresh equipment orders for power grid companies.
Nifty traded with positive bias during the early hours of the session and prices rose to the high of 23,425.35, but failed to sustain the momentum and went to the low of 23,217.30. If index falls below 23,300 level, then 23,100-23,000 would be the next destination for the Nifty50.Further RSI at 39 is also confirming the weakness in the index. Only sustained trading above the mark of 23,400 would pave the positive path for Nifty.

| INDICES | CLOSING | %CHANGE | SUPPORT | RESISTANCE |
| NIFTY | 23,214.95 | -0.12% | 23,000 | 23,800 |
| BANK NIFTY | 55,100.30 | -0.17% | 53200 | 54380 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 28,279.90 | -0.83% | 28000 | 29000 |
| NIFTY PHARMA | 24,160.75 | -0.53% | 24,000 | 24,500 |
| NIFTY AUTO | 25,833.55 | -0.74% | 25,485 | 27,100 |
| NIFTY REALTY | 748.15 | -1.74% | 730 | 800 |
| NIFTY ENERGY | 38,949.30 | -2.02% | 38,800 | 40,300 |
| NIFTY FMCG | 48,957.00 | 1.05% | 47,650 | 49,460 |
| Category | Value |
| FII/FPI | -2,124.98Cr |
| DII | +3,123.95Cr |
In this high-stakes market update, we analyze how Nifty 50 and Bank Nifty perfectly validated our exact pre-calculated technical resistance zones before experiencing a sharp intraday meltdown. Head of Research Naresh Sharma breaks down how Nifty opened at 23,233.95, surged directly into our projected target zone to make a high of 23,425.35 (just shy of the 23,450 wall), and completely reversed to close at 23,216.45. Similarly, Bank Nifty hit an absolute top of 55,555.85, accurately hitting our predicted resistance, before crashing back down to end at 55,104.30.
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