MOMENTUM MANTRA DAILY RUN-UP 📅 24 June 2026
MOMENTUM MANTRA DAILY RUN-UP
📅 24 June 2026
🔔 Opening View
Indian markets are likely to open on a slightly negative note, with GIFT Nifty near 23,803 (-50 pts). Weak global cues and cautious sentiment may keep pressure on equities, with 23,750–23,800 acting as a key support zone. 📉📊
📉 Market Recap
Nifty faced heavy selling pressure and closed 1.16% lower at 23,824.10. After a flat opening, the index failed to hold the crucial 24,000 mark, triggering broad-based selling led by Metal, IT, and TECK stocks amid weak global cues. 📊📉
🌍 Global Cues
🇺🇸 Dow: ▼ 0.09% | Nasdaq: ▼ 2.22% | S&P 500: ▼ 1.44%
📉 U.S. markets ended lower, with the Nasdaq plunging 3.3% as sharp selling in AI and semiconductor stocks weighed on sentiment, while the Dow remained near flat, supported by healthcare and consumer defensive stocks. 📊🇺🇸
📉 Asian markets traded mixed, with weakness in Japan and China weighing on sentiment, while modest gains in Hong Kong and Singapore helped limit broader losses.
📈 Nifty Key Levels
▪️ Support: 23,740 | 23,640
▪️ Resistance: 24,000 | 24,150
💰 FII/DII Flow
▪️ FII: +₹17.86 crore
▪️ DII: +₹680.21 crore
📊 Options Positioning
▪️ PCR: 0.60 (Bearish) – Indicates aggressive Call writing and cautious market sentiment, suggesting traders are positioning for limited upside in the near term. 📉
▪️ Resistance: 23,900–24,000 zone, with highest Call OI at 23,500 followed by 24,000.
▪️ Support: 23,800–23,700 zone, with strong Put OI concentration at 24,000 and 24,100.
▪️ View: Nifty has slipped below the crucial 24,000 mark. Sustaining below 23,900 may keep the bias weak, while a recovery above 24,000 is needed to improve sentiment and trigger short covering.
🏭 Sectoral Outlook
🟢 Bank Nifty – Buy on Dips
🟢 PSU Bank – Buy on Dips
🟢 Metal – Buy on Dips
🟢 Energy – Buy on Dips
🟢 Pharma – Buy on Dips
🟡 Auto – Accumulate
🚫 F&O Ban List