Quote on Market 18 June 2025 by Mr. Vikram Kasat, Head - Advisory, PL Capital
Below the Quote on Market 18 June 2025 by Mr. Vikram Kasat, Head - Advisory, PL Capital
“Risks Build The market's hopes for de-escalation in in the Middle East war faded today, as Trump called for Unconditional Surrender from Iran.
Shortly after his post, the president met with aides in the situation room, where a U.S. strike on Iran was among the options under consideration. Amid the war talk, the major indexes closed near their lows of the day, with the S&P 500 off 0.8%, Dow Jones slipping 299 points, or 0.7%, and the Nasdaq down 0.9%. The potential for a broadening war showed up more directly in the energy market, with crude oil settling 4.3% higher, at $74.84 a barrel, its highest level since Jan. 22.
Nifty 24853.40
Nifty encountered resistance around the 61.8% retracement level of the recent decline, and it has witnessed a correction from there. Yesterday’s high of 24982 is the immediate resistance level on the way up. On the way down, 24550 – 24450 will be a critical support zone.”
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