The Nifty ends 221 points higher, while the Sensex was up by 678 points
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, June 16, 2025: Today, the benchmark indices bounced back sharply; the Nifty ends 221 points higher, while the Sensex was up by 678 points. Among sectors, almost all major sectoral indices traded in positive territory, but the IT and Tourism indices outperformed, gaining over 1.5 percent. Technically, after a muted open, the market successfully cleared the 20-day SMA (Simple Moving Average) or the 24,850/81500 resistance mark. Following the breakout, positive momentum intensified. On daily charts, it has formed a bullish candle, and on intraday charts, it is holding an uptrend continuation formation, which is broadly positive.
We believe that the 20-day SMA or the 24,850/81500 and 24,775/81200 levels are key support zones for day traders, while 25,100/82300 and 25,150/82500 would act as crucial resistance levels for the bulls. For day traders, buying on intraday dips and selling on rallies would be the ideal strategy. However, below 24,775/81200, sentiment could turn negative. If the market drops below this level, traders may prefer to exit their long positions.
Satish Chandra Aluri, Lemonn Markets Desk, adds:
Indian equity markets staged a strong recovery on Monday, with the Nifty 50 surging nearly 1% to close around 24,950, despite ongoing geopolitical tensions in the Middle East and a spike in oil prices. The rebound was driven by renewed buying in heavyweight stocks, particularly in the IT and financial sectors, and positive sentiment in select large-cap names.
Markets opened flat but rallied sharply after Asian markets gained despite the Israel Iran conflict. Surging oil prices raised inflation concerns, but a slowdown in recent CPI inflation data helped temper some worries. Gains were led by heavyweight IT and Private bank names. Midcap and smallcap indices recovered from early losses but remained flat to marginally negative, reflecting continued caution with large caps perceived as relatively safer bet amid volatility.
Evolving geopolitical developments and oil price trends will be key drivers in the near term. Technically, Nifty closed around 24950-level indicating strong still positive momentum with immediate resistance around 25000-25100 zone. On the downside, 24800 acts as strong support level.
