Nifty trade setup: The Indian stock market on Friday ended the business with firm. The Nifty Index closed at 25,638 with a gain of 89 points, the highest level since 1 October 2024. This was the fourth consecutive boom of the market. At the same time, the Sensex also closed close to the upper levels of the day at the end of the session. Investors’ strict purchase and strong foreign signals supported the perception.
How will the mood of Nifty and Bank Nifty be on Monday, June 30, we will know from experts. But, before that, some important factor is understood.
Frequent boom in banking and midcap stocks
Bank Nifty reached a new record by crossing 57,400. IndusInd Bank shares recorded a 3% rise, as according to reports, private banking sector veterans- Rajiv Anand, Anup Saha (Bajaj Finance), and Rahul Shukla (HDFC Bank) are being considered as the main contender for the bank’s new CEO post.
The rally of midcap and smallcap stocks also continued for the sixth consecutive day. NIFTY MIDCAP 100 gained 0.27% and Nifty Smallcap 100 increased by 0.91%. Nifty oil and gas, healthcare and pharma index were top gainers on the sectoral front. At the same time, realty, IT and FMCG declined.
Technical View and Market Outlook
According to analysts, the Nifty has now entered the old gap zone of 25,640–25,740. If the index is decisively closed over 25,740, the next target may be 26,000. There will be 25,500 and 25,317 important support levels at the bottom.
It can move to 58,000 on the 56,800–57,000 support zone and 57,500 closing for Bank Nifty. Analysts believe that FII inflow, RBI’s liquidity strategy and good monsoon estimates will lead to positive trends in the market.
Siddharth Khemka of Motilal Oswal believes that there may be a steady boom in the market in the coming days. The reason for this is improvement in institutional investment, the possibility of the US-India trade deal and the liquidity policy of the RBI as well as a better monsoon than normal.
Expert opinion on Nifty
According to Nandish Shah of HDFC Securities, the short -term trend of the Nifty is currently positive, as it is trading over its important moving average.
He said that the Nifty has now entered the downward gap zone, which was built between 25,640 and 25,740 on 3 October 2024. If the Nifty closes in a unique way above 25,740, it can open the way to 26,000. At the bottom, 25,317 important support level will be.
Shopping advice on fall
The metaphor de of LKP Securities says that ‘by -on dips’ at the current levels will be more valid, especially in view of the recent fast.
He said that until there is no major blockage at the level of 25,750-25,800, the direction of the market can remain upwards. However, this speed can occur gradually. If the Nifty goes below 25,500, a little consolidation can be seen.
Bank Nifty’s eye on 58000
Om Mehra of Samco Securities says that as long as the bank Nifty is built above 56,800-57,000, its outlook will remain strong. If it closes above 57,500, it can move in short term towards 58,000. However, 55,800 will be an important support at the bottom.
Focus will be on these stocks on Monday
- BHEL: The company has received an order of ₹ 6,500 crore from Adani Power, in which 6 thermal units of 800 MW will be constructed.
- Hindustan Aeronautics (HAL): The final dividend of ₹ 15 per share has been declared for FY25.
- ITD Cementation: In Abu Dhabi, an international marine contract of ₹ 580 crore has been achieved.
- Piramal Enterprises: He has invested ₹ 700 crores in its subsidiary Piramal Finance, which was through the rights issue.
- Alembic pharmaceuticals: The company has received approval from American FDA for Doxorubicin Hydrochloride Injection.
- Gail: It is planned to purchase 106.75 crore shares in Talker Fertilizer.
- HOEC: Production in Block B-80 has been stopped due to bad weather.
- Central bank of india: The bank has purchased 25.18% stake in Future Generali India Life Insurance.
- PrestigE Estates & Arihant Group: There is a partnership for the Velachary project, which will be an estimated gross value ₹ 1,600 crore.
- Le lavoir: MOU is signed for 64.5% stake acquisition in Ghantiram Foods.
Also read: Stocks to Watch: These 15 stocks will be in focus on Monday, you can get a chance to earn strong earnings
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