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Below the Quote on Pre-Market Comment 17 June 2025 by Hardik Matalia, Research Analyst, Choice Broking Ltd

Indian benchmark indices are expected to open on a flat to slightly negative note today, as indicated by the GIFT Nifty, which suggests a marginal decline of approximately 12 points in the Nifty 50. Market sentiment remains mildly indecisive, particularly following a cautious close in the previous trading session.

In the last session, the Nifty 50 opened higher and surged over 227 points, reflecting strong bullish sentiment. This sharp recovery led to the formation of a bullish candle on the daily chart, indicating underlying buying interest. A sustained move above the 25,000 mark could further strengthen the bullish momentum, potentially driving the index toward the 25,100–25,235 zone. On the downside, immediate support is placed at 24,850 and 24,700, which may serve as accumulation zones if tested.

The Bank Nifty also exhibited notable strength, gaining 417 points and forming a bullish candle, suggesting continued buying interest. A decisive break below the key support at 55,740 could open the door for further downside toward 55,500 and 55,400. Conversely, if the index sustains above this support zone and maintains its bullish momentum, fresh buying opportunities may emerge. Immediate resistance is seen at 56,170 and 56,500, and a breakout above this range could propel the index toward the 56,700 level.

On the institutional front, Foreign Institutional Investors (FIIs) continued their selling streak for the fourth consecutive session, offloading equities worth Rs.2,539 crore on June 16. In contrast, Domestic Institutional Investors (DIIs) extended their buying activity, purchasing equities worth Rs.5,780 crore on the same day.

Given the prevailing environment of uncertainty and elevated volatility, traders are advised to adopt a cautious “buy on dips” approach, particularly when dealing with leveraged positions. Booking partial profits on rallies and implementing tight trailing stop-losses is recommended to manage risk effectively. Fresh long positions should be considered only if the Nifty sustains above the 25,000 level. While the broader sentiment remains cautiously bullish, it is important to closely monitor key technical levels and evolving global cues.

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