Quote June 2026 by Mr Jatin Gedia, Vice President – Technical Research at Teji Mandi
Below the Quote June 2026 by Mr Jatin Gedia, Vice President – Technical Research at Teji Mandi
Nifty witnessed a sharp reversal from intraday lows and closed with gains of 119 points (0.52%) for the day. Financials led the upmove, with the Nifty PSU Bank Index closing 3.6% higher for the day. A fall in crude oil prices also contributed to the positive sentiment. Nifty formed a small bodied candle with a long lower shadow suggesting buying interest in the 23100 - 23000 zone. A breach of the 23100 - 23000 zone could lead to a decline towards 22800. On the upside, 23560 - 23600 coinciding with the 20 day moving average (23563), will act as an immediate hurdle. For the 16 June weekly expiry, 23200 PE added huge open interest suggesting support base. The market breadth was strong with 2,380 advances and 904 declines indicating broad market participation. We expect the Nifty to hold on to the support zone and trend higher towards 23600.
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