The Nifty held above 24,150 for a fifth straight session, and GIFT Nifty points to a muted open. Here’s Friday’s setup, the levels that matter, where institutional money is flowing, and the stocks to watch, from Reliance’s AGM to Accenture’s guidance cut.
Contents
🔑 Key Takeaways
- Nifty closed at 24,168 (+0.34%) and the Sensex at 77,409 (+255 pts), a fifth straight day of gains.
- GIFT Nifty around 24,015 (+0.11%) signals a muted, flat-to-soft open.
- 24,000 is the bull/bear line; above 24,100 opens 24,300 and the 24,500–24,600 zone.
- Reliance’s 49th AGM at 2 PM is the day’s big event, with the Jio IPO timeline in focus.
- Accenture’s guidance cut puts TCS, Infosys, and Wipro in the spotlight.
Where the market stands
- The Nifty added ~82 points to close at 24,168; the Sensex rose 255 points to 77,409 — a fifth consecutive session of gains.
- The index has cleared its 100-day EMA near 24,150; chartists now eye the 24,500–24,600 band.
- Banking heavyweights and rotational large-cap buying are anchoring the trend.
- Early Friday is calmer: GIFT Nifty was ~26 points higher at 24,015 (+0.11%), a flat-to-muted start. A weekly options expiry should keep intraday moves lively.
Trade setup: the levels that matter
| Level | Value | What it means |
|---|---|---|
| Immediate support | 24,000 | Psychological mark and Thursday’s base; the day’s bull/bear line |
| Next support | 23,800 | A break below 24,000 could extend the slide here |
| Immediate resistance | 24,100 | A decisive move above opens the upside |
| Upside targets | 24,300 → 24,500–24,600 | 100-DEMA cleared near 24,150; next resistance zone |
The read on levels: bulls hold the edge above 24,000. A clean break of 24,100 targets 24,300+, while losing 24,000 risks a quick test of 23,800.
What’s driving the mood
Oil and the rupee are doing the heavy lifting; the Fed is the counterweight.
- Oil: After the US and Iran reached an MOU to reopen the Strait of Hormuz (no tolls, 60 days), Brent slipped to ~$77, its lowest since the conflict began. That eases a key inflation worry for import-heavy India.
- Global equities: Asian markets touched record highs on the same optimism; US stocks closed higher on chip strength and softer inflation fears.
- The Fed: At its first meeting under new Chair Kevin Warsh, the Fed held rates at 3.50–3.75% but turned hawkish, lifting 2026 inflation forecasts and flagging a possible hike later this year. A firmer dollar pushed gold toward a third straight weekly decline.
- The rupee: Firmed to 94.33/$ from 94.53 — a fifth straight gain, improving the odds of foreign inflows returning.
| Market / Asset | Latest | Note |
|---|---|---|
| GIFT Nifty | ~24,015 (+0.11%) | Muted, flat-to-soft start |
| Brent crude | ~$77 (↓ ~2%) | Lowest since the conflict began; Hormuz MOU |
| US equities | Higher | Chip strength; softer inflation worries |
| Asian equities | Record highs | Hormuz reopening optimism |
| Gold | Lower | Third weekly decline; firmer dollar, hawkish Fed |
| India VIX | 12.67 (↓ 4%) | Fear gauge cooling into expiry |
| USD/INR | 94.33 | Rupee firmer; fifth straight gain |
Where the institutional money went
Cash market, NSE provisional, June 18:
| Institution | Net activity (cash) |
|---|---|
| FII | Net buyers — ₹101.60 cr |
| DII | Net buyers — ₹1,561.40 cr |
- DIIs remain the market’s cushion; FIIs turned modest net buyers in cash after a stretch of selling.
- India VIX cooled 4% to 12.67 — traders aren’t bracing for a sharp move.
- For the day’s likely range, track where the heaviest Call/Put open interest sits, plus the PCR and FII derivatives data.
F&O ban list
- One stock in the ban period Friday: Kaynes Technology.
- Stocks enter the ban when open interest crosses 95% of the market-wide limit; fresh positions are barred until they exit.
Stocks in focus today
| Stock | Trigger | Why it matters |
|---|---|---|
| Reliance Industries | 49th AGM at 2 PM today | Jio IPO timeline, new energy and AI roadmap |
| TCS, Infosys, Wipro | Accenture cut FY26 revenue growth view to 3–4% | Bellwether signal of soft discretionary IT demand |
| Waaree Renewable | Is acquiring 55% of APSPL for ₹1,225 cr (closure expected by June 30, 2026) | Expands EPC / power-structures footprint |
| HDFC Bank | RBI extends interim chairman Keki Mistry’s term ~3 months | Leadership continuity until a permanent chair |
| HPCL | Rajasthan JV refinery restarts CDU after April fire | Clears the way for a phased fuel-output ramp-up |
| Tata Motors | CV prices up to 2.5% from July 1 | Offsets input costs; follows a passenger-vehicle hike |
The two names that matter most:
- Reliance: AGM at 2 PM via video conferencing. Investors want a firm Jio Platforms listing timeline, plus retail, new-energy and AI updates. Any concrete word on the IPO quarter is the single biggest swing factor for the stock.
- IT pack: Accenture, a global bellwether, beat on earnings but trimmed FY26 revenue growth to 3–4% (local currency), citing softer discretionary demand and delayed projects. Its shares fell sharply overnight; the read-through is cautionary for TCS, Infosys and Wipro at the open.
Other movers:
- Waaree Renewable’s ₹1,225-crore deal deepens its power-infrastructure play.
- HDFC Bank gains leadership continuity after the RBI’s nod.
- HPCL’s refinery restart paves the way for higher fuel output.
- Tata Motors’ CV price hike signals continued cost-pass-through across autos.
Bottom line
- The trend is up, the oil backdrop has eased, and domestic buying is intact.
- But it’s an event-heavy, expiry session; expect two-way swings.
- Watch 24,000 as the index’s line in the sand, the IT counters after Accenture, and let Reliance’s AGM set the afternoon’s tone.
📊 Track it live on NIFTYTRADER:
One thing left on your side before it ships: the FII-DII figures are NSE provisional (may revise marginally), reconcile against your own tracker’s final print.
