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Below the Quote on Post-market comment by Hardik Matalia, Derivative Analyst, Choice Broking

On June 10, the Indian benchmark indices opened with a significant gap-up; however, they were unable to sustain the higher levels and moved sideways throughout the day. Eventually, the indices settled near the flat line, with the Nifty closing slightly above the 25,100 mark. The Sensex declined by 53.49 points (0.06%) to close at 82,391.72, while the Nifty ended marginally positive, up 1.05 points (0.00%) at 25,104.25.

On the daily chart, the Nifty formed a strong bearish candle, with the open and high nearly identical, and a slightly extended lower wick—signaling selling pressure at higher levels and intraday recovery attempts. However, the inability to hold above the day's high reflects weak bullish momentum, suggesting indecision and a possible phase of consolidation in the near term. On the downside, 25,000 remains the immediate support, followed by a more critical zone near 24,800. A breakdown below these levels could invite further selling pressure and push the index lower. On the upside, 25,200 serves as the first resistance, with a key hurdle around 25,300. A decisive breakout and sustained move above this zone would be crucial to reignite buying interest and confirm a continuation of the uptrend. Given the prevailing global uncertainties and event-driven risks, traders are advised to adopt a disciplined approach with strict risk controls. Maintaining tight stop-loss levels and exercising caution is prudent, particularly in the current environment of heightened market volatility.

On the sectoral front, the market witnessed strong gains across key segments, with IT, Media, Pharma, Energy, and Metal emerging as the top performers, rising between 0.35% to 1.67%. This broad-based rally reflects sustained buying interest across multiple sectors. In contrast, the Realty, PSU Bank, & Financial Services sectors were under some pressure, closing marginally lower ranging 0.47% to 1.14%, indicating minor profit booking. Meanwhile, the broader markets outperformed the benchmarks once again, with the Nifty Midcap 100 index advancing by 0.01% and the Nifty Smallcap 100 index surging 0.14%, suggesting continued investor preference for mid and small-cap stocks amid improving market sentiment.

The India VIX declined by 4.61% to 14.0150, indicating a slight reduction in market volatility and a more stable sentiment among traders. Open Interest (OI) data shows the highest concentration on the call side at the 25,200 and 25,300 strike prices, indicating strong resistance at these levels. On the put side, significant OI build-up is observed at the 25,000 and 24,900 strike prices, marking these as key support zones.

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