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Published on 23-06-2026 10:12 am

Comments:

Nifty weekly contract has the highest open interest at 24200 CE and 24000 PE while monthly contracts have the highest open interest at 25000 CE and 24000 PE. The highest OI addition was seen at 24200 CE and 24100 PE in weekly and at 25000 CE and 24100 PE in monthly contracts. FIIs increased their future index long holdings by 0.48%, decreased future index shorts by 1.30% and in index options, 6.07% increase in Call longs, 6.32% increase in Call short, 3.62% increase in Put longs and 10.63% increase in Put shorts.

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Published on 23-06-2026 10:10 am

Nifty Outlook

A doji formation with upper wick below Friday’s peak points to loss in momentum, but not an outright sell signal. Favoured view expects renewed attempts today to rise, aiming 24200 initially and 24300-600 thereafter. However, inability to limit declines to 24040 would indicate bears regaining grip, exposing 23900- 23670.

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Published on 23-06-2026 10:09 am

Market Outlook

The Indian market started the week on a positive note, with the Nifty 50 opening gap-up and gradually advancing to retest the crucial 100-DEMA zone. However, the index failed to surpass this resistance level and eventually settled the session with gains of 0.37%. On the derivatives front, OI data indicated continued put writing at the 24,000 strike and call writing at the 24,200 strike, suggesting immediate support and resistance levels, respectively. Overall, the positive bias remains intact in the benchmark indices, supported by a buy on dip approach among market participants

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Published on 23-06-2026 10:07 am

Bank Nifty

* The Banking Index resumed its upward trajectory following a brief consolidation, sustaining comfortably above key short- to medium-term EMAs.

* The index opened with a gap-up and maintained positive momentum through the session with constant higher-high and higher-low formation.

* Market breadth remained mixed, led by IDFC First Bank and Bank of Baroda, while IndusInd Bank and Yes Bank underperformed.

* Immediate resistance stands at 58,700, with crucial support near 56,900.

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Published on 23-06-2026 10:07 am

Nifty

* Nifty traded with a positive bias on Monday, recouping a part of Friday's losses amid supportive global cues.

* We continue to maintain a constructive stance and recommend following a "buy on dips" approach as long as the Nifty holds above the 23,700 mark, with an upside potential towards the 24,4500-24,600 zone.

* Sectorally, we reiterate our preference for rate -sensitive segments such as banking, realty, and auto, along with pharma and defence, while continuing to avoid aggressive long positions in the IT space.

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