Nifty Stuck in a Tight Band as Broader Market Shows Signs of Strain

The Nifty 50 index traded in a narrow range on June 20, 2025, fluctuating between 19,250 and 19,500, as persistent selling pressure near the upper resistance zone kept gains in check. While the benchmark index held steady, the broader market underperformed, with weak market breadth and cautious sentiment dominating the session.

 

Key Highlights:

 

Technical Picture: Nifty is facing resistance near 19,480 and support around 19,320. A breakdown below this level could drag the index toward 19,100 in the near term.
 

Bank Nifty Weakness: The Bank Nifty fell for the sixth consecutive session, closing near its 20-week moving average of 43,800. Analysts suggest it’s oversold but not yet showing signs of reversal.
 

Geopolitical Overhang: The Iran-Israel conflict, now in its eighth day, continues to weigh on global sentiment. Brent crude prices climbed above $78 per barrel, raising inflationary concerns.
 

Domestic Focus: Stocks like IREDA, PFC, REC, HUDCO, and IRFC are in focus after the RBI finalized new project financing guidelines, potentially benefiting state-run lenders.

Market Mood: Despite Nifty’s rangebound behavior, the undercurrent remains weak, with low conviction trades and cautious institutional flows.

 

Traders are advised to stay nimble, as global cues and crude price movements could dictate the next directional move.

 

Sources: Moneycontrol, Financial Express, Economic Times