Nifty 50 began today’s session higher at 23,924 versus yesterday’s close of 23,854. The index is now hovering around 23,910, up nearly 0.25 per cent so far today.
The advance/decline ratio stands at 29/21, showing a positive bias, HCL Technologies (up 3.3 per cent) is the leader followed by Bajaj Finserv (up 2.3 per cent) closely followed by Bajaj Finance (up 2.2 per cent).
On the other hand, Hindalco Industries (down 3.3 per cent) and JSW Steel (down 1 per cent) are the top losers.
Most of the sectoral indices are in the green so far, indicating a broad-based buying. Nifty Media (up 1.9 per cent) and Nifty IT (up 1.3 per cent) are the top performers.
Nifty Metal (down 1.2 per cent), Nifty Cement (down 0.25 per cent) and Nifty Auto (down 0.1 per cent) are the only losers so far today, among the sectors.
The June expiry Nifty futures began today’s session with a gap-up at 23,956 versus Monday’s close of 23,920. It is now trading at 23,940, up 0.1 per cent.
The price action shows that Nifty futures is facing a hurdle at 24,000. If this level is breached, it can swiftly rise to 24,150 and subsequently to 24,500 in the near-term.
However, in case the contract slips below the nearest support at 23,880, the downtick could extend to 23,800. That said, a decline below 23,800 is less likely.
Broadly, as it stands, Nifty futures staying above 23,800 is a positive sign and any dip is likely to attract new buyers. Therefore, we retain the positive outlook until 23,800 holds.
On Monday, we suggested buying Nifty futures (Jun) at 23,900. Retain this trade and maintain stop-loss at 23,780. Book profits at 24,150.
Traders looking for fresh opportunities can buy the contract (now at 23,940) if it slips to 23,900. Target and stop-loss can be the same as above.
In case neither target nor stop-loss is triggered today, traders can consider carrying the position for tomorrow.
Supports: 23,880 and 23,800
Resistance: 24,150 and 24,500
Published on June 16, 2026
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