Quote on Pre-Market Comment 10 June 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
Below the Quote on Pre-Market Comment 10 June 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd
On June 9, the Indian benchmark indices opened with a significant gap-up; however, the session witnessed sideways move throughout the day, with the index eventually settling slightly above the 25,1000 mark while ending on a positive note. The Sensex gained 256.22 points (0.31%) to close at 82,445.21, while the Nifty advanced 100.15 points (0.40%) to end the session at 25,103.20.
On the daily chart, the Nifty formed a strong bearish-bodied candle with a slightly long lower wick, indicating sustained selling pressure throughout the session, with some buying interest emerging at lower levels. This candlestick pattern reflects negative sentiment, as bears maintained control for most of the day. However, the presence of the lower wick suggests that buyers attempted to defend key support zones, resulting in a mild intraday recovery. On the downside, 25,000 remains the immediate support, followed by a stronger support zone near 24,800. A breach below these levels could trigger additional selling pressure and drag the index lower. On the upside, 25,200 acts as the immediate resistance, with a significant hurdle near the 25,300 mark. A decisive breakout and sustained move above this zone would be essential to revive buying interest and confirm a potential continuation of the uptrend. Given ongoing global uncertainties and event-driven risks, traders are advised to maintain a disciplined approach with strict risk management. It remains prudent to deploy tight stop-loss strategies and stay cautious, especially in the current environment of elevated market volatility.
On the sectoral front, the market witnessed strong gains across key segments, with PSU Bank, Energy, IT, Metal, and Pharma emerging as the top performers, rising between 0.66% to 1.52%. This broad-based rally reflects sustained buying interest across multiple sectors. In contrast, the Realty sector was the only laggard, closing marginally lower by 0.14%, indicating minor profit booking. Meanwhile, the broader markets outperformed the benchmarks once again, with the Nifty Midcap 100 index advancing by 1.13% and the Nifty Smallcap 100 index surging 1.57%, suggesting continued investor preference for mid and small-cap stocks amid improving market sentiment.
The India VIX surged by 0.43% to 14.6925, indicating a slight rise in market volatility and suggesting that traders are pricing in some uncertainty or caution in the near term. 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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