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Published on 15-06-2026 12:11 pm

HIGH RISK HIGH VOLATILE: BUY BANK NIFTY 57400 JUNE PUT ABOVE 828.75 SL BELOW 710 TGT 860-915-970. 30 JUNE

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Published on 15-06-2026 11:15 am

BANK NIFTY

* The Banking Index extended its bullish momentum for a second consecutive session, securing its fourth successive weekly gain.

* The index opened with a gap-up and sustained buying interest throughout the session, closing above 100 & 200 DEMAs, indicating strengthening market sentiment.

* All constituent stocks ended in positive territory, with gains primarily driven by AU Small Finance Bank and IDFC First Bank.

* Immediate resistance is placed near 57,800, while key support is located around 55,600.

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Published on 15-06-2026 11:14 am

NIFTY

* Nifty witnessed a strong rebound on Friday, snapping its recent losing streak amid supportive global cues and easing geopolitical concerns.

* Technically, the Nifty has staged a decisive rebound after defending the crucial 23,000 support zone and reclaiming the key resistance area around 23,500, which coincides with the 20-DEMA.

* Sustaining above this zone could pave the way for a move towards the 23,800–24,200 band in the near term.

* While the recovery has improved the near-term outlook, we continue to advocate a stock-specific approach with disciplined risk management, favouring banking, financials, and pharma for long positions and selectively identify opportunities across other sectors.

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Published on 15-06-2026 11:13 am

Market Outlook

The Indian benchmark indices witnessed a strong recovery on Friday, with the Nifty index rallying nearly 2%, driven by robust positive traction across the banking counters, either its private or PSU. The Bank Nifty index outperformed the overall market, surging more than 4% during the last week. On the derivatives front, Nifty index witnessed fresh put writing at the 23,400 and 23,500 strikes, coupled with call unwinding, indicates an optimistic near-term bias. However, substantial call OI at the 24,000 strike continues to act as a key resistance level for the index. So overall, the Nifty50 index faces multiple layers of resistance at every 200-points interval.

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Published on 15-06-2026 10:52 am

Nifty

Nifty showcased notable resilience last week by consistently holding above the crucial 23300 support zone, where multiple reversal patterns such as bullish hammer, inverse hammer, and doji formations emerged. Although the rebound was gradual, the index managed to close the week above 23500 hurdle, indicating strengthening buying interest and formation of an elevated base within the 23000–24000 range. It did display a ‘Piercing Line’ formation on its weekly scale indicating strong buying interest emerging near the support zone. While ADX above 32 suggests limited trend strength as the -DI value remains above its 25 mark. But RSI on the other hand is moving above 50 level points toward a potential directional shift. Indicator setup favours pullbacks to remain ideal to deploy fresh longs on decline upto 23520. Immediate resistance stands at 23800 (50 DEMA); a sustained breakout could lead to 24000 and 24420 (50 WEMA) as well in the coming weeks. On the downside, 23150–23100 remains a critical support zone below which accumulation could be avoided, keeping the outlook cautiously optimistic within the 23000–24000 range.

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