I. Market Overview & Global Cues
The Indian market staged a strong rebound yesterday (June 16, 2025), with both the Sensex and Nifty closing significantly higher. This recovery came despite lingering geopolitical tensions, as market participants focused on positive domestic and some global cues. Global sentiment also appears to be improving, with European markets closing higher and US pre-market futures trading in the green.
II. GIFT Nifty Position
As of the latest update (early morning IST on June 17, 2025), GIFT Nifty is trading around 25,000, indicating a potentially positive to flat opening for the Indian market today. Yesterday, GIFT Nifty had also shown a rise of 1.01%, which contributed to the strong close on Monday.
III. Nifty 50 Support and Resistance Levels
- Resistance:
- Immediate: 25,000 – 25,123
- Stronger: 25,233 – 25,500
- Major Hurdle: 25,500 – 26,000 (Highest Call Writing at 25,500)
- Support:
- Immediate: 24,700 – 24,770 (Highest Put Writing at 24,700)
- Stronger: 24,200 – 24,660
IV. Bank Nifty Support and Resistance Levels
- Resistance:
- Immediate: 56,000 – 56,052 (Highest Call Writing at 56,000)
- Stronger: 56,406 – 56,691
- Crucial: 56,500 – 57,000
- Support:
- Immediate: 55,484 – 55,500 (Highest Put Writing at 55,500)
- Stronger: 55,000 – 55,199
- Crucial: 54,500 – 55,000
V. FII and DII Data (as of June 16, 2025)
- FII (Foreign Institutional Investors):
- Equity Cash Segment: Net Sell of ₹2,539.42 Crores
- Derivatives (Index Futures):
- Buy Contracts: 20,830
- Sell Contracts: 25,561
- Net Position (Change in Open Interest): Net Short (FIIs sold more Index Futures contracts than they bought)
- Open Interest: 168,454 contracts (Long + Short positions combined)
- Derivatives (Index Options):
- Significant activity with high buy and sell volumes.
- DII (Domestic Institutional Investors):
- Equity Cash Segment: Net Buy of ₹5,780.96 Crores
Summary of FII/DII Data: FIIs remained net sellers in the equity cash segment on June 16, and also increased their net short positions in Index Futures. This indicates continued caution from foreign investors. However, DIIs continued to be strong net buyers in the cash market, absorbing the FII selling pressure and providing crucial support.
VI. News and Updates
- Global Market Optimism: European markets closed higher, and US futures are positive this morning, which is providing a favorable global backdrop.
- Cooling Inflation: India’s Wholesale Price Index (WPI) inflation for May 2025 eased to a 14-month low of 0.39% YoY, driven by falling food prices. Retail inflation (CPI) also hit a six-year low in May. This provides more flexibility for the RBI’s monetary policy.
- Specific Stock News:
- Tata Motors: Witnessed selling pressure yesterday due to a lowered EBIT margin outlook on JLR.
- IT Stocks: Major IT companies like Infosys, HCL Technologies, and Tech Mahindra performed well yesterday, contributing to Nifty’s gains.
- Financials: HDFC Bank, ICICI Bank, and Kotak Bank also saw broad-based buying.
- Defence Sector: BEL (Bharat Electronics) was a top gainer, indicating renewed interest in defence stocks.
- Gas Companies: Indraprastha Gas and Mahanagar Gas rose on reports that the Delhi government might ease its electric vehicle transition timeline under its upcoming revised EV policy.
- F&O Ban: ABFRL, BSOFT, CHAMBLFERT, CDSL, HINDCOPPER, IEX, IREDA, MANAPPURAM, RBLBANK, TITAGARH are likely to remain in the F&O ban for today.
- Key Levels to Watch: Analysts suggest Nifty could move up if it sustains above 25,500, while a break below 24,700 could lead to further downside. Bank Nifty needs to cross 56,000 for sustained upside.
VII. Key Factors to Watch Today:
- FII Flows: Continued FII selling, especially in derivatives, needs to be monitored, though DIIs are providing strong counter-support.
- Global Market Momentum: The performance of Asian markets throughout the day and the opening of US markets will influence sentiment.
- Crude Oil Prices: While crude oil eased slightly yesterday, geopolitical developments could still impact prices, which in turn affect oil marketing companies and broader market sentiment.
- Sectoral Performance: Watch for continued strength in IT and Financials, and if other sectors join the rally.
Disclaimer: This report is for informational purposes only and does not constitute financial advice. Investors are advised to consult with a qualified financial advisor before making any investment decisions.