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Below the Quote June 2026 by Mr Jatin Gedia, Vice President – Technical Research at Teji Mandi

Nifty witnessed a day of consolidation and formed an Inside Bar pattern on the daily charts. The pattern suggests a brief pause in the overall uptrend and this consolidation should be used as a buying opportunity. In terms of levels, the support zone is placed at 23850 - 23800, while the resistance zone is placed at 24350 - 24400 which coincides with the 200-day moving average. Dips toward the support zone should be considered a buying opportunity. There was a decline of 6.69% in the INDIAVIX indicating reduced volatility.  The advance decline ratio was positive. The FII long short ratio has been improving over the last couple of days and were also buyers in the cash market suggesting improvement in the FII sentiment and positioning. Considering the Technical setup, Fall in INDIAVIX and the improving FII data points suggests that the upmove is likely to continue towards 24350 - 24400.

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