📈 DAILY MARKET UPDATE
📅 Date – 8 June 2026
1️⃣ VERY IMPORTANT NEWS
• Iran launched around 10 ballistic missiles towards Northern Israel after fresh Israel-Lebanon tensions escalated over the weekend.
• Hezbollah rejected the ceasefire proposal, increasing geopolitical uncertainty and pushing crude oil prices sharply higher.
• India Q4 GDP came at 7.8% vs expectation of 7.2%, while RBI measures to attract foreign inflows supported the Rupee.
🌍 GLOBAL MARKET
✔️ US Markets:
• Nasdaq crashed 4.18%, S&P 500 fell 2.64%, Dow Jones down 1.35% due to chip stock selloff and rate hike fears.
✔️ Asia Market Update:
• Japan Nikkei down 4.5%, TOPIX down 3.1%, Asian markets trading weak after US selloff.
✔️ Gift Nifty Signal:
• Indicating massive gap-down opening near 23,100 zone.
✔️ Crude Oil:
• WTI Crude near $93.5/barrel.
• Brent Crude near $96.2/barrel.
✔️ Dollar Index:
• Dollar remained strong after better-than-expected US jobs data.
✔️ Volatility Index (VIX US):
• US VIX surged nearly 40% to 21.5 indicating panic and fear globally.
🇮🇳 INDIAN MARKET OVERVIEW
✔️ Sector Trend:
• IT and export-oriented stocks may outperform due to Rupee strength.
• Metals, Oil-sensitive sectors and broader market may remain under pressure.
✔️ Market Sentiment / Trend:
• Global sentiment strongly negative.
• Domestic macros supportive but geopolitical tensions dominating market mood.
✔️ Volatility (India VIX):
• India VIX near 15.79 indicating volatile intraday movement expected.
💰 FII & DII DATA
✔️ FIIs:
• FIIs net sold around ₹8,776 Cr.
✔️ DIIs:
• DIIs net bought around ₹9,150 Cr.
📊 COMMODITIES UPDATE
✔️ Crude:
• Crude oil sharply higher due to Middle East tensions.
✔️ Gold:
• Gold corrected nearly 3% after strong US jobs data.
✔️ Silver:
• Silver remained weak following pressure in precious metals.
📊 OPTIONS DATA (OI BUILD-UP)
✔️ Call OI:
• Highest Call OI at 24,000 followed by 23,500 and 24,200.
✔️ Put OI:
• Highest Put OI at 23,000 followed by 23,300 and 23,400.
✔️ PCR:
• Nifty PCR dropped to around 0.83 indicating bearish bias.
📈 NIFTY LEVELS
✔️ Trend:
• Bearish to volatile
• Immediate Support:
• 23,100
• Major Support:
• 23,000 → 22,800
• Immediate Resistance:
• 23,500
• Strong Resistance:
• 23,700 → 24,000
📉 BANK NIFTY LEVELS
✔️ Trend:
• Sideways to mildly bearish
• Immediate Support:
• 54,000
• Major Support:
• 53,700 → 52,700
• Immediate Resistance:
• 55,000
• Strong Resistance:
• 55,500
📊 STOCKS / SECTORS IN NEWS
• IT stocks may remain relatively strong after Rupee appreciation.
• Oil marketing companies may stay under pressure due to rising crude.
• Semiconductor-related global weakness may impact tech sentiment.
📊 STOCK SETUPS TO WATCH
• Wipro – Relative strength visible compared to ADR peers.
• Bank Nifty – Watch 54,000 support closely.
• IT Index – Better compared to broader market weakness.
🎯 EXPECTED TRADING RANGE TODAY
✔️ Nifty Range:
• 22,900 – 23,500
✔️ Bank Nifty Range:
• 53,700 – 55,000
📅 IMPORTANT DATA / EVENTS TODAY
• Israel-Iran geopolitical developments.
• US Futures and Crude Oil movement during market hours.
🎯 INTRADAY TRADING VIEW
👉 Market sentiment remains weak due to global panic and rising crude oil prices. If Nifty sustains above 23,000, short covering bounce possible. Breakdown below 23,000 may trigger fresh selling pressure.
📌 QUICK SUMMARY
• Global markets extremely weak after Nasdaq crash.
• Middle East tensions pushing crude oil sharply higher.
• Indian macros positive, but global pressure dominating near-term sentiment.