Trade Setup June 12: Nifty eyes 25,350 if 25,200 resistance is crossed
The NSE Nifty 50 continued its consolidation phase on June 11, staying within a narrow trading band. Market experts suggest that the index is currently range-bound between 25,000 and 25,200, with traders closely watching these levels for a breakout signal.
According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, a decisive move above the 25,200 mark could push the index towards the 25,350–25,400 zone. On the downside, any dip below the key 25,000 level could trigger a sell-off, taking the Nifty down to 24,850 or even 24,775.
Rajesh Bhosale, technical analyst at Angel One, also emphasized the importance of the 25,000 level as immediate support. He noted that a sustained breach could result in profit booking, while a breakout above 25,300 might open the door to 25,500.
Meanwhile, Bajaj Broking highlighted that Nifty is holding well above its breakout zone of 24,900–25,000. The brokerage maintains a positive outlook as long as this level holds, identifying 25,300 as the immediate resistance, followed by 25,500.
As markets await a clear direction, traders are advised to watch for a decisive move beyond this consolidation band to gauge the next trend.
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Business Standard
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- Business Standard
Sensex, Nifty decline amid geopolitical tension and trade uncertainty
Indian equities declined on Thursday amid uncertainty surrounding the US–China trade deal and rising geopolitical tensions. The Sensex ended at 81,692, a decline of 823 points or 1 per cent. The Nifty, meanwhile, ended the session at 24,888, a fall of 253 points or 1.01 per cent. Investors were jittery despite US President Donald Trump's claim on Wednesday that a tariff framework with China had been reached. Concerns about elevated geopolitical tensions further dented sentiment after Iran said it would strike US bases in the Middle East if nuclear talks failed. The US, in response, said its personnel were being moved out of the Middle East as it could become a dangerous place. Geopolitical tensions in the Middle East could push Brent crude prices higher—a key negative for India, which imports most of its crude oil requirements. Aviation stocks declined after a fatal crash of a Boeing 787 Dreamliner operated by Air India left more than 200 people dead. The shares of Indian aviation firms fell. The stock of InterGlobe Aviation, which owns IndiGo, dropped 2.7 per cent, while that of SpiceJet declined by 1.8 per cent. Shares of helicopter services firm Global Vectra Helicorp fell by 0.1 per cent, and those of chartered aircraft carrier Taal Enterprises declined by 3.05 per cent. In the near future, negotiations between the US and its trading partners, as well as geopolitical developments, will determine market direction. 'The Nifty has once again approached the support zone of its short-term moving average—the 20-day EMA—which currently lies around the 24,800 mark. A decisive break below this level could lead the index back into a consolidation phase. Given the prevailing uncertainty, we recommend maintaining strict stop-losses in short-term trades, particularly in the mid-cap and small-cap space. It is also advisable to avoid aggressive long positions until a clearer directional trend emerges,' said Ajit Mishra, senior vice-president – research, Religare Broking. Barring three, all Sensex constituents declined. Larsen & Toubro, which fell 2.2 per cent, was the biggest contributor to the Sensex decline, followed by Infosys, which dropped 1.4 per cent. The market breadth was weak, with 2,780 stocks declining and 1,226 advancing.
The Print
6 hours ago
- The Print
Investors' wealth erodes by Rs 5.98 lakh cr as mkts tumble
The 30-share BSE Sensex dropped 823.16 points or 1 per cent to settle at 81,691.98. During the day, it plunged 991.98 points or 1.20 per cent to 81,523.16. Benchmark indices Sensex and Nifty declined 1 per cent in tandem with weak global market trends amid growing tensions in the Middle East. New Delhi, Jun 12 (PTI) Investors' wealth eroded by Rs 5.98 lakh crore on Thursday, tracking weak trends in equities where the BSE Sensex tumbled 1 per cent. The market capitalisation of BSE-listed firms dropped by Rs 5,98,759.27 crore to Rs 4,49,58,383.92 crore (USD 5.26 trillion). 'The selloff was triggered by weak global cues, volatility from the weekly F&O expiry, and renewed concerns over global trade and geopolitical tensions. Investors reacted to feeble global cues as markets assessed the uncertain outcome of US-China trade negotiations and rising tensions in the Middle East, which pushed oil prices higher and weighed on risk appetite. 'The weekly expiry of derivatives contracts added to intraday volatility and profit-booking, amplifying the downward move,' Satish Chandra Aluri, Analyst at Lemonn Markets Desk, said. From the Sensex firms, Tata Motors, Titan, Eternal, Power Grid, Tata Steel, Larsen & Toubro, Mahindra & Mahindra and Hindustan Unilever were among the biggest laggards. Bajaj Finserv, Asian Paints and Tech Mahindra were the gainers. Among sectoral indices, power tumbled 2.19 per cent, utilities (2.18 per cent), oil & gas (2.10 per cent), realty (2.07 per cent), consumer durables (2.02 per cent), industrials (1.98 per cent), auto (1.71 per cent), consumer discretionary (1.67 per cent) and metal (1.63 per cent). As many as 2,729 stocks declined while 1,282 advanced and 140 remained unchanged on the BSE. The BSE midcap gauge tanked 1.52 per cent and smallcap index dropped 1.38 per cent. PTI SUM SUM SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hans India
6 hours ago
- Hans India
Trade Setup for June 13: Bulls aim to hold 24,850 as market corrects on weak cues
The Nifty slipped below the 25,000 mark for the first time since June 5, as expiry-led volatility and weak global cues weighed heavily on investor sentiment. The benchmark index fell by 250 points, dragged down by heavyweights Axis Bank and ICICI Bank, and closed just above the crucial support zone at 24,850. This sharp fall comes amid a mix of bearish triggers — from US President Trump's tariff threats, unresolved US-China discussions in London, escalating tensions in the Middle East, to a spike in crude oil prices — none of which supported the index's attempt to extend its seven-day rally. Adding to the pressure, profit booking continued in recently favored sectors like railways, defence, and capital markets. Several block deals surfaced, including a stake sale by Reliance Industries in Asian Paints and a ₹480 crore deal in MapMyIndia's parent, which ended the day at its low. Despite Thursday's drop, the Nifty remains marginally positive for the week. Bulls are now looking to defend 24,850 to keep the uptrend intact, with 25,200 acting as a tough resistance. Technical View: Rupak De, LKP Securities: A breakdown has formed near 25,200; support seen at 24,850. While the broader trend remains strong, slipping below 24,850 could worsen sentiment. Nagaraj Shetti, HDFC Securities: A sustained move above 25,200 is needed for the Nifty to reclaim momentum towards 25,600. Om Mehra, SAMCO Securities: Nifty Bank is showing fatigue. A dip below 56,000–56,200 could push it toward 55,300, while 56,700 remains a resistance. With global uncertainty and expiry pressures behind, Friday's session becomes critical for gauging short-term direction and sentiment stability across sectors.
