Market Outlook – 24 June 2026 $IOC $BPCL

Market Outlook – 24 June 2026 After yesterday's sharp correction, Indian markets are expected to open with a positive bias as GIFT Nifty is indicating a higher start. However, volatility is likely to remain elevated due to global cues and recent profit booking. Key Factors to Watch Today ✅ Crude Oil Cooling Down Easing geopolitical tensions and softer crude prices are positive for India. Lower oil prices support sectors like Paints, Aviation, OMCs, and FMCG. ✅ Banking Sector RBI's measures to attract foreign currency deposits may support liquidity and banking stocks. ⚠️ IT Sector Remains Weak Weak outlook from global IT spending and Accenture's guidance continue to pressure Indian IT stocks. ⚠️ FII Activity Foreign flows remain mixed, while domestic institutions continue to provide support. Nifty Technical View Support: 23,750 – 23,800 Major Support: 23,600 Resistance: 24,000 – 24,100 Break above 24,100: Fresh rally towards 24,300+ Below 23,750: Profit booking may continue. Sectors in Focus 🟢 Banking & Financials 🟢 Oil Marketing Companies (IOC, BPCL, HPCL) 🟢 Select Pharma Stocks 🔴 IT Stocks 🔴 Metals Trading Strategy Buy quality stocks on dips rather than chasing rallies. Focus on Banking, Capital Goods, Defence, and PSU themes. Keep strict stop losses as volatility remains high.