Sensex Gain 158 Points, Nifty at 25,044; Nifty Prediction for Tomorrow
Markets Close with Gains; All Eyes on Nifty’s Key Levels Ahead of June 25
The Indian equity markets ended on a positive note on Monday, June 24, with broad-based gains across sectors, despite a mixed start to the session.
Investor sentiment improved amid easing global geopolitical concerns and strong buying in heavyweights such as Adani Ports, Tata Steel, and Kotak Mahindra Bank.
However, market participants remain cautious ahead of the monthly F&O expiry and upcoming macroeconomic triggers, both domestic and global.
As we head into the trading session on Tuesday, June 25, analysts are closely watching the Nifty’s range-bound movement.
The index continues to oscillate within a well-defined zone, making technical levels increasingly relevant in the short term.
Market Recap: June 24 Highlights
- Nifty 50 ended 72 points higher, closing at 25,044, marking a firm close above the psychological 25,000 mark.
- Sensex climbed 158 points to settle at 82,055, supported by gains in financials, infrastructure, and metals.
- Nifty Bank surged 403 points to finish at 56,462, highlighting renewed strength in banking stocks.
- Nifty Midcap 100 rose 416 points, ending the day at 58,682, signaling a bullish undertone in the broader market.
Market breadth remained decisively positive. On the Nifty, 35 out of 50 stocks ended in the green, while 19 of the 30 Sensex constituents posted gains.
In the banking space, 11 of the 12 Nifty Bank stocks advanced, showcasing a strong sectoral performance.
Top Performers and Sector Trends
Among individual gainers, Adani Ports, Tata Steel, Kotak Mahindra Bank, and UltraTech Cement emerged as strong performers, driven by favorable earnings outlooks, attractive valuations, and renewed institutional buying.
From a sectoral perspective, Nifty PSU Bank led the rally, climbing 1.5%, buoyed by optimism around credit growth and improving asset quality in state-owned banks.
Nifty Metal also gained 1%, helped by signs of stability in global commodity prices. Other notable gainers included Nifty Bank, Auto, Private Bank, and Consumer Durables, all of which advanced by 0.7%, reflecting a healthy risk appetite among investors.
On the downside, Nifty Media was the only major sectoral laggard, falling 1%, possibly due to profit booking and lack of fresh triggers in the segment.
Technical View: Nifty’s Range-Bound Movement Persists
Technical analysts emphasize that the Nifty remains locked in a broad consolidation phase, with 25,222 acting as a key resistance level on the upside and 24,462 as a major support on the downside.
Akshay Chinchalkar, Research Head at Axis Securities, observed that Monday’s price action was entirely contained within the previous session’s range—a classic sign of market indecision.
“The Nifty has been stuck in this range for over a month now. While intraday volatility has risen, there is no clear breakout yet,” he said.
He added that the declining number of stocks trading above their 50-day moving average is a subtle warning sign that market breadth could be weakening even as the index holds firm.
The immediate support for the Nifty is seen around 24,800, while a close above 25,222 could trigger a fresh leg of the rally.
Expert Opinions: What Analysts Are Saying
Ajit Mishra, SVP – Technical Research at Religare Broking, noted that while the session opened with strength, some amount of profit booking was observed during the latter half, particularly due to rising caution around geopolitical developments.
“Reports of ceasefire violations between Iran and Israel sparked mild nervousness in the market.
Additionally, strong call writing at the 25,200 strike price ahead of the F&O expiry added to the pressure,” he explained.
In contrast, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, took a more optimistic stance.
He emphasized the significance of geopolitical developments in West Asia, particularly a statement from former U.S. President Donald Trump regarding a ceasefire initiative.
“This announcement suggests that the worst of the geopolitical tension might be behind us. The sharp fall in crude oil prices and a surge in global equity indices signal a return of risk-on sentiment,” he said.
However, Vijayakumar also highlighted that the sustainability of the rally hinges on progress in global trade negotiations.
“The current truce on reciprocal tariffs ends on July 9. Without a firm bilateral trade agreement in place, markets could react sharply to any negative surprise. Until then, global cues will continue to influence Indian markets,” he warned.
Market Prediction for June 25: Key Triggers and Expectations
As the market enters the June 25 session, investors are advised to remain alert to multiple domestic and global cues:
- Technical Triggers:
- Watch for a breakout above 25,222 to signal bullish continuation.
- A breakdown below 24,462 could usher in a short-term correction.
- Support at 24,800 could act as a buffer in the near term.
- F&O Expiry Volatility:
- With the monthly derivatives expiry approaching, expect increased intraday volatility due to rollover activity and adjustments in institutional positions.
- Global Cues:
- Developments in West Asia, particularly around Iran-Israel tensions.
- Movements in crude oil prices, which have recently declined.
- Progress in US-China trade talks, especially ahead of the July 9 tariff deadline.
- Domestic Macro Events:
- Any update from the Finance Ministry or Reserve Bank on fiscal policy or rate outlook.
- Monsoon progress and its impact on rural demand and agri-stocks.
Final Thoughts: Wait for a Breakout, Stay Stock-Specific
In summary, the market is showing signs of underlying strength, but a clear directional move is awaited.
The Nifty remains range-bound between 24,462 and 25,222, with stock-specific action dominating the landscape.
The broader market is resilient, but waning momentum in midcaps and lower participation above key averages suggest that caution is warranted.
Traders should keep a close eye on technical levels, global headlines, and institutional flows, while investors may consider using dips to accumulate quality stocks with long-term potential.
