Before the Bell: 15 Insights to Shape Your June 23 Trading Day

Image Source: MoneyControl

If you’re planning to trade or invest this Monday, here’s a quick, no-nonsense rundown of what you should keep an eye on before the opening bell.

The Nifty 50 had a solid rally last Thursday, closing at 25,112, but it’s still moving in a pretty tight range between 24,450 and 25,200. Don’t be surprised if things stay choppy.

For Nifty, resistance levels to watch are 25,145, 25,229, and 25,363. On the downside, look out for support at 24,876, 24,793, and 24,658. The 25,000 put option has the most open interest, so that’s a key level.

Technically, Nifty made a bullish candle, but the RSI is just drifting and the ADX (which measures trend strength) is at its weakest since last July. The Bollinger Bands are really tight, which usually means a big move—up or down—could be coming.

Bank Nifty closed at 56,253. Resistance is at 56,340, 56,520, and 56,811; support at 55,758, 55,578, and 55,287.
Options data shows heavy call writing at 25,400 and 26,000, with strong put support at 25,000.
Four stocks—ABFRL, Biocon, RBL Bank, and Titagarh—are under F&O ban today.
Global cues aren’t great: the US bombed Iranian nuclear sites, oil prices jumped, and Asian markets are in the red.
GIFT Nifty is pointing to a 129-point gap-down, so expect a weak start.
Watch what foreign and domestic investors are doing for more clues.
Last week, infrastructure stocks did well, but FMCG stocks lagged behind.
Stocks like Nestle India, Bharti Airtel, and M&M are showing strength.
Volatility is low for now, but with those tight Bollinger Bands, that could change fast.

Keep an eye on crude oil, the rupee, and any new headlines from the Middle East.

Source: Moneycontrol, Upstox, Financial Express, Hindustan Times