Nifty Eyes 24,200 as Expiry Day Trading Begins

Key Takeaways

GIFT Nifty at 24,152.50, up 53 points, signals a mildly positive open for June 23.

The Nifty 50 closed at 24,102.90 on June 22, up 89.80 points or 0.37%; the Sensex settled at 77,094.07, up 291.17 points or 0.38%.

FIIs net sold Rs 635.91 crore on June 22; DIIs net bought Rs 1,035.72 crore, per NSE/BSE data. Crude oil fell to around $74 per barrel on June 22, the lowest since early March, on the US-Iran 60-day peace roadmap.

BEL, JSW Infrastructure, Craftsman Automation, Vedanta, and Vodafone Idea are key stocks to watch today.

How June 22 Closed: Recovery After Friday’s Selloff

Indian equity markets staged a clean recovery on June 22 after Friday’s selloff.

The BSE Sensex gained 291.17 points, or 0.38%, to close at 77,094.07, while the Nifty 50 added 89.80 points, or 0.37%, to end at 24,102.90.

The session’s intraday range was a tight 24,075.70–24,167.40, per NSE data; dips were bought, but the index couldn’t sustain above the day’s high, pointing to a consolidation rather than a breakout. Banking stocks provided the primary support through the day.

The recovery’s main trigger was crude. Crude oil fell to around $74 per barrel, its lowest since early March 2026, after the US and Iran agreed on a 60-day roadmap toward a final peace agreement, with mediators Qatar and Pakistan confirming both sides had also agreed on a monitoring mechanism, per TradingEconomics.

For India as a net oil importer, that’s a direct macro positive on the import bill front.

Global Cues Snapshot for June 23

The overnight global picture is mixed, and traders should factor this into early positioning.

US Equities, Mixed: The Dow Jones added 148.01 points, or 0.29%, to close at 51,712.71 on Monday.

The S&P 500 fell 27.79 points, or 0.37%, to 7,472.79, and the Nasdaq dropped 351.33 points, or 1.32%, to 26,166.60, dragged by Alphabet and other megacap technology names as investors stayed cautious on US-Iran peace developments, per Reuters.

Asian Equities — Tracking Wall Street Weakness: Asian stocks tracked the technology-led losses on Wall Street overnight, per Moneycontrol. Most regional indices opened softer, reflecting selective risk appetite rather than a broad-based selloff.

Dollar Index — Flat: The US dollar index was around 101.02, near its highest since May last year, per Moneycontrol.

US Bond Yields—Flat: The yield on the 10-year US Treasury held at 4.50% and the 2-year at 4.22%, per Moneycontrol. No significant movement here limits immediate pressure on emerging market flows.

Crude Oil — Mild Bounce After Sharp Fall: After Monday’s drop to around $74 per barrel, crude was seeing a modest recovery on Tuesday morning.

The US-Iran 60-day roadmap has effectively shifted crude from a geopolitical risk factor to a supply-recovery story, per TradingEconomics. Gulf producers, including Kuwait, which has lifted force majeure notices, and Abu Dhabi’s ADNOC, which has resumed supply operations, are preparing to raise output.

Sustained crude softness improves OMC margins and reduces India’s import bill pressure directly.

Gold—Sideways: Gold prices were steady on June 23 morning.

Pranav Mer, Vice President, EBG, Commodity and Currency Research at JM Financial Services, said momentum for precious metals “looks sideways to corrective,” with a positive outcome in US-Iran talks likely to further weigh on gold as safe-haven demand eases, per Business Standard.

FII-DII Fund Flow: June 22 Data

FIIs remained net sellers on June 22, offloading Rs 635.91 crore of equities. DIIs countered with Rs 1,035.72 crore in net purchases, per NSE/BSE provisional exchange data. DII buying has been the consistent price cushion through this FII selling cycle in 2026.

Source: NSE/BSE exchange provisional data via Moneycontrol

Track real-time FII and DII activity on the NiftyTrader FII-DII Tracker.

Note on YTD figures: The MTD and YTD flow data above is sourced directly from the Moneycontrol First Tick report dated June 23, 2026. Readers should cross-verify against NSE/BSE daily FII-DII disclosures before using these figures for investment decisions.

F&O Corner: What Expiry Day Means Today

June 23 is the Nifty 50 weekly options expiry session. Nifty’s immediate resistance for June 23 is at 24,146–24,207, with support at 24,073 and a deeper reference at 24,014, per Optionchainindia technical analysis. A volume-backed break above 24,200 opens the path toward 24,302 and 24,424 on the upside.

For Bank Nifty, key intraday reference bands are 57,803–58,009, per Optionchainindia. Sustained trade above 58,009 strengthens the bullish case for the session.

Track live: Put-Call Ratio and Option Chain data on NiftyTrader’s Option Chain tool.

Stocks to Watch on June 23

Bharat Electronics (BEL): BEL secured fresh orders worth Rs 1,081 crore since May 25, covering radars, communication systems, avionics, CBRN protection equipment, and defence services, per BSE filing. Defence electronics order accretion has been one of the more consistent themes on Dalal Street in 2026, and BEL’s pipeline continues to build.

JSW Infrastructure: The company launched its qualified institutional placement (QIP) on June 22 with a floor price of Rs 290.35 per share, per BSE filing. The QIP comprises both a fresh issue and an offer-for-sale by the Sajjan Jindal Family Trust. Proceeds are earmarked for port infrastructure expansion. Watch intraday reaction near the floor price, as QIP overhang typically limits upside in the short term.

Craftsman Automation: Promoter Srinivasan Ravi is likely to sell up to a 2.01% stake through block deals at a floor price of Rs 925 per share, with the total deal size estimated at approximately Rs 484 crore, per CNBC-TV18 and media reports.

Vedanta: Promoter entity Twin Star Holding is reportedly looking to offload up to 6.5 crore shares worth approximately Rs 1,890 crore through block deals at a floor price of Rs 291 per share, per CNBC-TV18 sources.

Vodafone Idea: The board approved allotment of 430 crore warrants to Suryaja Investments Pte — an Aditya Birla Group entity and a member of the Promoter Group — at Rs 11 per warrant, raising Rs 1,182.50 crore as the first 25% tranche, per BSE filing on June 22. Each warrant is convertible into one fully paid-up equity share within 18 months. The raise addresses Vodafone Idea’s balance sheet position; analysts will track whether the capital is deployed toward network capex within the conversion window.

Horizon Reclaim: Bandhan Mutual Fund acquired an additional 1.2 lakh shares — a 0.6% stake — at Rs 139.95 per share, totalling Rs 1.67 crore, per exchange data. Bandhan Small Cap Fund already held 3.11% as of June 18, having entered at the anchor book price of Rs 103 per share on June 11. Fresh institutional buying at a 36% premium to anchor price, within days of listing, flags genuine post-IPO MF interest.

F&O Ban — Kaynes Technology India: Remains under the F&O ban after breaching the market-wide position limit. Fresh derivative positions are restricted until open interest falls below the prescribed threshold, per NSE.

Bottom Line

June 23 is a weekly expiry session with a cautiously positive setup. GIFT Nifty’s 53-point uptick and softer crude provide the tailwind; the Nasdaq’s 1.32% overnight drop and a firm dollar index at 101.02 are the counterweights.

On Nifty, 24,200 is the level that matters — a volume-backed move above it opens 24,302 and beyond, per Optionchainindia. Below 24,073, selling pressure could accelerate given elevated option volatility.

On the stocks side, two block deals (Vedanta at Rs 1,890 crore and Craftsman at Rs 484 crore) and JSW Infra’s live QIP make this a session where institutional price action will be worth monitoring alongside index direction. BEL’s Rs 1,081 crore order win is the clean fundamental positive of the day.

Frequently Asked Questions

Q1. What is GIFT Nifty’s level for June 23 open?

GIFT Nifty was trading at 24,152.50 as of 7 AM on June 23, up 53 points or 0.22% over Nifty futures’ previous close, indicating a mildly positive opening for Indian benchmark indices, per NSE data.

Q2. What were FII and DII flows on June 22, 2026?

FIIs net sold Rs 635.91 crore on June 22. DIIs net bought Rs 1,035.72 crore. MTD, FIIs have sold Rs 2,92,319.20 crore and DIIs have bought Rs 3,42,784.30 crore, per NSE/BSE exchange provisional data via Moneycontrol.

Q3. What is Nifty’s key resistance and support levels for the June 23 expiry?

Nifty’s immediate resistance is at 24,146–24,207 and support is at 24,073, with a deeper fallback at 24,014, per Option Chain India’s technical analysis. A volume-backed break above 24,200 targets 24,302 on the upside.

Disclaimer: Investment in the securities market is subject to market risks. Read all related documents carefully before investing. The data and views in this article are for informational purposes only and do not constitute investment advice. NiftyTrader is a SEBI-registered research analyst platform. Please consult a SEBI-registered investment advisor before making any investment decisions.