Daily Market Insight - 16th June 2026 by Motilal Oswal Wealth Mangement
Nifty Technical Outlook
NIFTY (CMP : 23853 ) Nifty immediate support is at 23700 then 23600 zone while resistance at 24050 then 24200 zones. Now it has to hold above 23850 for an up move towards 24050 then 24200 zones while support can be seen at 23700 then 23600 zones.
Sensex Technical Outlook
Sensex (CMP : 76264) Sensex support is at 76000 then 75700 zones while resistance at 76700 then 77000 zones. Now it has to hold above 76000 for an up move towards 76700 then 77000 zones while support can be seen at 76000 then 75700 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 57198) Bank Nifty support is at 56750 then 56500 zones while resistance at 57500 then 58000 zones. Now it has to hold above 57000 zones for an up move towards 57500 and then 58000 levels while supports are shifting higher at 56750 then 56500 zones.
Midcap100 Index Technical Outlook
• Index has given a breakout.
Smallcap250 Index Technical Outlook
• Index has given a bullish Pennant Pattern Breakout.
Brent Crude Oil
• Crude has given breakdown from support levels of 93 and has corrected 30% in last 1 month
Technical Stocks On Radar
GRASIM
(CMP: 3171, Mcap Rs 2,15,814 Cr.)
• Stock has given falling channel breakout.
• Stock is sustaining above 20 DEMA.
• RSI has given positive crossover.
• Immediate support at 3120
PHOENIXLTD
(CMP: 1860, Mcap Rs 66,521 Cr.)
• Stock has given a trendline breakout.
• Sustaining above 20 DEMA.
• RSI has given positive crossover.
• Immediate support at 1820
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