Stock market today: Gift Nifty up 285 pts; key levels to watch for Nifty & Nifty Bank
Nifty futures on the NSE International Exchange traded 285.20 points, or 1.15 per cent, lower at 25,280, hinting at a muted start for the domestic market on Tuesday.
- Jun 24, 2025,
- Updated Jun 24, 2025 8:08 AM IST
Indian benchmark indices are set for a gap-up opening on Tuesday after the US President Donald Trump announced ceasefire between Iran and Israel after a 12-day conflict. A sharp fall in the crude oil prices and US Dollar along with a global market rally shall also support the sentiments at Dalal Street.
Nifty futures on the NSE International Exchange traded 285.20 points, or 1.15 per cent, lower at 25,280, hinting at a muted start for the domestic market on Tuesday. Asian shares rallied on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire. KOSPI soared more than 2.25 per cent, while Hang Seng rallied 1.75 per cent. Nikkei was up 1.15 per cent.
Indian Equities are expected to remain in consolidation mode, with investors closely tracking development on the global geopolitical front, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "We anticipate momentum to continue in defence and upstream oil companies, banking and financial stocks are likely to be in favour," he said.
Wall Street shares advanced on Monday as markets shrugged off the effects of the escalating Middle East conflict amid peace talks. The Dow Jones Industrial Average rose 0.89 per cent to 42,581.78, the S&P 500 gained 0.96 per cent to 6,025.17 and the Nasdaq Composite jumped 0.94 per cent to 19,630.98.
The dollar, which last week drew support from safe-haven demand, fell on Tuesday amid ceasefire talks in the Middle East. The risk-on mood saw gold prices ease 0.6 per cent to $3,346 an ounce. Bitcoin soared nearly 4 per cent to hover around $105,000.
Oil prices fell over 3 per cent, having already slid 9 per cent on Monday when Iran made a token retaliation against a US base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, US crude futures fell another 3.4 per cent to $66.15 per barrel, the lowest since June 11.
Volatility is expected to persist as geopolitical developments continue to steer market sentiment. Investors will also eye key macro data and global cues for directional clarity, said Vikram Kasat, Head of Advisory at PL Capital.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,874.38 crore on Monday. On the other hand, domestic institutional investors (DIIs) remained buyers of Indian equities to the tune of Rs 5,591.77 crore on a net-net basis.
Looking ahead, in the absence of any major domestic triggers, global market performance and crude oil price movement will be key in setting the tone, said said Ajit Mishra, SVP of Research at Religare Broking. "Participants are advised to avoid aggressive bets and instead focus on selective stock picking based on relative strength during this consolidation phase," he added.
Nifty outlook
A small green candle was formed on the daily chart with minor upper and lower shadow beside the long bull candle of Friday. Technically, this market action indicates presence of strong hurdles around 25100-25200 levels, which has been a broader high low range for the Nifty over the last one month, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
"As long as the Nifty stays below the hurdle of 25100-25200 levels, there is a possibility of choppiness in the market. A decisive move above this hurdle could only open renewed buying enthusiasm in the market. Further consolidation from here could find strong support around 24800 levels," he added.
"The Nifty recovered significantly after a gap-down opening amid weak geopolitical sentiment. It managed to close above the support level of 24,850, and Indian equities may continue to offer buying opportunities as long as the Nifty sustains above this level, said Rupak De, Senior Technical Analyst at LKP Securities. "If it moves above 25,000, it may head towards 25,350 in the short term."
Nifty Bank outlook
Nifty Bank formed a bull candle which remained enclosed inside the previous session price range signaling consolidation. The index may maintain positive bias and head towards 56,700 and 57,400 levels in the coming weeks. Immediate bias remains positive above 55,400 levels being the confluence of recent consolidation area and last week low, said Bajaj Broking.
"The daily stochastic remains in uptrend thus validating positive bias. Key support is placed at 54,500-54,000 levels being the confluence of 50 days EMA and key retracement level of the previous up move," it added.
Nifty Bank continues to trade above both the 20 EMA and 50 EMA, which are positively sloped, suggesting that the medium-term trend remains bullish despite the recent consolidation, said Om Mehra, Technical Research Analyst, SAMCO Securities. "A decisive close above 56,400 would signal strength and may trigger a fresh upward move," he said.
Indian benchmark indices are set for a gap-up opening on Tuesday after the US President Donald Trump announced ceasefire between Iran and Israel after a 12-day conflict. A sharp fall in the crude oil prices and US Dollar along with a global market rally shall also support the sentiments at Dalal Street.
Nifty futures on the NSE International Exchange traded 285.20 points, or 1.15 per cent, lower at 25,280, hinting at a muted start for the domestic market on Tuesday. Asian shares rallied on Tuesday after US President Donald Trump said Iran and Israel had agreed to a ceasefire. KOSPI soared more than 2.25 per cent, while Hang Seng rallied 1.75 per cent. Nikkei was up 1.15 per cent.
Indian Equities are expected to remain in consolidation mode, with investors closely tracking development on the global geopolitical front, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "We anticipate momentum to continue in defence and upstream oil companies, banking and financial stocks are likely to be in favour," he said.
Wall Street shares advanced on Monday as markets shrugged off the effects of the escalating Middle East conflict amid peace talks. The Dow Jones Industrial Average rose 0.89 per cent to 42,581.78, the S&P 500 gained 0.96 per cent to 6,025.17 and the Nasdaq Composite jumped 0.94 per cent to 19,630.98.
The dollar, which last week drew support from safe-haven demand, fell on Tuesday amid ceasefire talks in the Middle East. The risk-on mood saw gold prices ease 0.6 per cent to $3,346 an ounce. Bitcoin soared nearly 4 per cent to hover around $105,000.
Oil prices fell over 3 per cent, having already slid 9 per cent on Monday when Iran made a token retaliation against a US base, which came to nothing and signalled it was done for now. With the immediate threat to the vital Strait of Hormuz shipping lane seemingly over, US crude futures fell another 3.4 per cent to $66.15 per barrel, the lowest since June 11.
Volatility is expected to persist as geopolitical developments continue to steer market sentiment. Investors will also eye key macro data and global cues for directional clarity, said Vikram Kasat, Head of Advisory at PL Capital.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,874.38 crore on Monday. On the other hand, domestic institutional investors (DIIs) remained buyers of Indian equities to the tune of Rs 5,591.77 crore on a net-net basis.
Looking ahead, in the absence of any major domestic triggers, global market performance and crude oil price movement will be key in setting the tone, said said Ajit Mishra, SVP of Research at Religare Broking. "Participants are advised to avoid aggressive bets and instead focus on selective stock picking based on relative strength during this consolidation phase," he added.
Nifty outlook
A small green candle was formed on the daily chart with minor upper and lower shadow beside the long bull candle of Friday. Technically, this market action indicates presence of strong hurdles around 25100-25200 levels, which has been a broader high low range for the Nifty over the last one month, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
"As long as the Nifty stays below the hurdle of 25100-25200 levels, there is a possibility of choppiness in the market. A decisive move above this hurdle could only open renewed buying enthusiasm in the market. Further consolidation from here could find strong support around 24800 levels," he added.
"The Nifty recovered significantly after a gap-down opening amid weak geopolitical sentiment. It managed to close above the support level of 24,850, and Indian equities may continue to offer buying opportunities as long as the Nifty sustains above this level, said Rupak De, Senior Technical Analyst at LKP Securities. "If it moves above 25,000, it may head towards 25,350 in the short term."
Nifty Bank outlook
Nifty Bank formed a bull candle which remained enclosed inside the previous session price range signaling consolidation. The index may maintain positive bias and head towards 56,700 and 57,400 levels in the coming weeks. Immediate bias remains positive above 55,400 levels being the confluence of recent consolidation area and last week low, said Bajaj Broking.
"The daily stochastic remains in uptrend thus validating positive bias. Key support is placed at 54,500-54,000 levels being the confluence of 50 days EMA and key retracement level of the previous up move," it added.
Nifty Bank continues to trade above both the 20 EMA and 50 EMA, which are positively sloped, suggesting that the medium-term trend remains bullish despite the recent consolidation, said Om Mehra, Technical Research Analyst, SAMCO Securities. "A decisive close above 56,400 would signal strength and may trigger a fresh upward move," he said.