The Nifty ended in the negative territory, while the Sensex was down by 140 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities:
Mumbai, June 18, 2025: The benchmark indices witnessed profit booking at 24900/81850. The Nifty ended in the negative territory, while the Sensex was down by 140 points. Among sectors, the Consumer durables index was the top gainer, gaining 0.90 percent, whereas the Nifty Media and Capital Markets indices shed nearly 1% percent.
Technically, Nifty/Sensex has formed indecisive pattern at equilibrium levels on daily charts that indicate at temporary weakness. We believe that as long as the market is trading below 24,800/81400, the weak sentiment is likely to continue. On the downside, 24,725/81250 would be the immediate support zones for traders. Below this, the market could slip to 24,500/80600. On the flip side, above 24,900/81850, the sentiment could change. If it moves above this level, it could rally up to 25,000-25,100/82100-82500.
Satish Chandra Aluri, Lemonn Markets Desk, adds: Benchmark indices opened cautiously and traded in a narrow range on Wednesday reflecting the ongoing uncertainty from geopolitical tensions in the Middle East and elevated crude oil prices.
Markets recovered from their intraday lows as the session progressed but remained under pressure due to weak global cues. The tensions kept investor anxiety high and prompted a risk-off tone in global markets. Among the sectors, Auto, private banks, consumer durables are top performers while IT, media, metal, oil & gas, realty posted losses. Broader Mid and Small caps also closed lower.
Market sentiment in the near term will remain influenced by evolving geopolitical developments and fluctuations in oil prices. The US Fed meeting outcome along with new dot plot projection on rates path and commentary will be keenly watched for central bank outlook amid heightened geopolitical tensions.
Technically, Nifty managed to close above the 24800 level after taking support near 24750. On the upside, 24900-25000 acts as an immediate resistance zone while 24750 will be immediate support on the downside.
