Morning Action @ 7 AM – Friday, June 20th 2025

# In early action Gift Nifty is seen fluctuating, indicating an up-and-down session for the benchmark Nifty.

# The trading theme revolves around the street guessing whether the U.S. would attack/join Israel in fighting Iran.

# As per latest, President Donald Trump will decide within the next two weeks whether the U.S. will intervene in the Israel-Iran war.

# Long Story Short: US stock futures are up this Friday morning as deferring the US attack on Iran for 2--weeks is widely acclaimed as a good move by the netizens of Wall Street experts.

# 7:00 AM GLOBAL UPDATE:
GIFT Nifty: (+17, 24804)
Dow Futures: (+169, 42341)
Nasdaq 100 Futures (+153, 21873)

Nikkei (+15, 38503)
Hang Seng (+54, 23291)

Dow Jones (CLOSED, 42172)
Nasdaq Composite (CLOSED, 19546)
Bovespa (CLOSED, 138717).

# MARKET TRENDS:
Global: Negative
FII: (+934.82 Cr)
DII: (+605.97 Cr)
Sentiment: Risky
Market Breadth: Negative
Technicals: Breaking down
F&O: 24500 – 25500 zone.

INDIA VIX 14.25 (-0.21%)
USD/INR Futures (June) (86.77)
NIFTY PCR (26th June) 0.96
BANK NIFTY PCR (26th June) 0.66

# Nifty Outlook: We suspect, Nifty bears are likely to be everywhere on fears that the US could strike Iran.

Continue to proceed with caution.

# WHAT TECHNICALS TELLS US ON NIFTY & BANK NIFTY:
Nifty Technically:
Nifty (CMP: 24793)
SUPPORT: 24473/23933
RESISTANCE: 25000/25222
RANGE: 24600-24900
BIAS: Negative
21 DMA: 24839
50 DMA: 24413
200 DMA: 24079

Sensex (CMP 81362):
SUPPORT: 80354/78968
RESISTANCE: 81900/82784
RANGE: 80600-81600
BIAS: Negative
21 DMA: 81614
50 DMA: 80371
200 DMA: 79269

Bank Nifty Technically:
BANK NIFTY (CMP 55577):
SUPPORT: 55100/53483
RESISTANCE: 56300/57100
RANGE: 55000-56000
BIAS: Negative
21 DMA: 55814
50 DMA: 54874
200 DMA: 51870

WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:

# Wall street was closed on Thursday on account of Juneteenth Day.

# Meanwhile, Wall Street ended near the breakeven-line in Wednesday’s trade after the Fed kept rates steady.

As on Wednesday’s close, the Dow Jones and S&P 500 slipped 0.1% and 0.03%, respectively, while the Nasdaq Composite gained 0.13%.

# WTI crude oil futures are seen wavering, now at $74.50 per barrel.

# Gold prices ($3366 per ounce) too are wavering and trading below the psychological 3400 mark.

STOCK MARKET NEWS:

# Our call of the day suggests, Nifty Bulls are likely to be in ‘Wait-and-See Mode’, as the near term direction is seen favoring ‘The Bears’.

# Like It Or Not…

…Nifty bulls have been working hard to float above the dotted lines for past 3-trading days but towards close ended on an uninspiring note.

# Blame Nifty’s lackluster performance to 3-negative catalysts:

1) Bullish sentiments dampened amidst escalating Middle East conflicts after Iran's Supreme Leader Ayatollah Ali Khamenei rejected US President Donald Trump's demand for unconditional surrender.

The Iran-Israel conflict has now entered its eighth day.

Iran has warned Trump not to get involved in the conflict and has said, this is "not America's war".

As of recording, UK’s Prime Minister Keir Starmer has urged Trump to step back from military action against Iran.

2) Cautious Federal Reserve: Bulls sagged despite the Federal Reserve maintaining its forecast for two rate cuts in 2025.

Probably, bullish traders took it with a pinch of salt that Chair Jerome Powell was sounding hawkish as the Tariffs will likely push inflation higher in the months ahead.

3) Oil futures extended their rally to over $76.5 per barrel.

# Long story short: Investors should not expect a quick end to this Middle-East conflict. Nifty bears are here to stay. Also, volatility and wild swings are likely to become a new normal.

# Technically speaking, NIFTY (CMP 24793) biggest support is now placed only at 24473 mark. Immediate resistance is placed at Nifty’s psychological 25000 mark.

# Amongst stock specific action:

1) In yesterday’s trade, shares of Siemens Energy India Ltd (SEIL), the newly demerged energy business of Siemens, made a debut on the bourses. The stock closed at Rs 2,760 on the NSE, higher than the discovered price of Rs 2,478.20.

2) ESAF Small Finance Bank gained 1.61% after the bank's board approved a major clean-up of its balance sheet by offloading bad loans worth Rs 735.18 crore to an Asset Reconstruction Company (ARC).

3) Tata Elxsi plunged 3.57%. The company announced that it has signed a memorandum of understanding (MoU) with Infineon Technologies to jointly develop application-ready EV solutions tailored to the Indian market.

4) Nestle India fell 0.94% despite announcing that its board will consider a bonus share issue on 26 June 2025.

# Now, here is the preferred trade on Nifty and Bank Nifty:

Nifty (24793): Sell between 24850-24900 zone. Stop at 25309. Targets 24600/24473. Aggressive targets at 23933-24000 zone.

Bank Nifty (55577): Sell at CMP. Stop at 56501. Targets 55100/54750. Aggressive targets at 53483-53600 zone.

# Our chart of the day is bearish on VOLTAS, INDIAN HOTELS and LODHA DEVELOPERS on any early intraday strength with an interweek perspective.

# The 1 Stock to Buy Sell Now: Sell CHOLAMANDALAM FINANCE (CMP 1544): Sell at CMP. Stop at 1611. Targets 1497/1441. Aggressive targets at 1357. (Interweek Strategy). Rationale: Sliding from a probable overbought conditions on the daily charts. Probable triple top pattern on the daily charts. Momentum oscillators weakening. The make-or-break support at 1497.

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