📈 DAILY MARKET UPDATE
📅 Date – 24 June 2026
1️⃣ VERY IMPORTANT NEWS
• Sharp global sell-off triggered by concerns over AI semiconductor demand after reports that South Korean chipmaker SK Hynix may focus more on conventional DRAM production than aggressively expanding HBM memory capacity.
• US technology stocks witnessed heavy profit booking; AI and semiconductor stocks led the decline.
• Crude oil prices remained under pressure amid easing geopolitical concerns and improving prospects of a US-Iran diplomatic resolution.
🌍 GLOBAL MARKET
✔️ US Markets:
• S&P 500 -1.44%, Nasdaq -2.21%, Dow Jones -0.09%; semiconductor stocks were the biggest laggards.
✔️ Asia Market Update:
• Japan's Nikkei 225 mildly negative.
• South Korea's KOSPI rebounded over 2% after the previous session's sharp decline.
✔️ Gift Nifty Signal:
• Indicates ~20–30 points positive opening around 23,850–23,870.
✔️ Crude Oil:
• WTI near $73/barrel; Brent near $77/barrel.
✔️ Dollar Index:
• Remains strong, supporting risk-off sentiment globally.
✔️ Volatility Index (VIX US):
• Rose to around 19.5 after a sharp spike.
🇮🇳 INDIAN MARKET OVERVIEW
✔️ Sector Trend:
• Positive: IT, Pharma.
• Weak: Metal, Banking, PSU-related counters.
✔️ Market Sentiment / Trend:
• Short-term cautious to bearish below 24,000.
• Relief bounce possible above 23,930.
✔️ Volatility (India VIX):
• Rose 8.6% to 13.94, indicating higher volatility.
💰 FII & DII DATA
✔️ FIIs:
• Net Buyers: ₹18 Cr
✔️ DIIs:
• Net Buyers: ₹680 Cr
📊 COMMODITIES UPDATE
✔️ Crude:
• Weak; favorable for India.
✔️ Gold:
• Corrected nearly 2% amid stronger US Dollar.
✔️ Silver:
• Traded with negative bias alongside broader commodity weakness.
📊 OPTIONS DATA (OI BUILD-UP)
✔️ Call OI:
• Highest at 24,000 strike.
• Fresh Call Writing: 24,000, 24,100, 23,900.
✔️ Put OI:
• Highest at 24,000 strike.
• Fresh Put Writing: 23,500, 23,400, 24,000.
✔️ PCR:
• 0.88 (Bearish to Neutral)
📈 NIFTY LEVELS
✔️ Trend: Short-Term Bearish
• Immediate Support: 23,800
• Major Support: 23,600 – 23,500
• Immediate Resistance: 23,930
• Strong Resistance: 24,000 – 24,100
📉 BANK NIFTY LEVELS
✔️ Trend: Weak / Consolidation
• Immediate Support: 52,000
• Major Support: 51,500
• Immediate Resistance: 52,500
• Strong Resistance: 53,000
📊 STOCKS / SECTORS IN NEWS
• Infosys – Positive sentiment after management highlighted AI-led growth opportunities.
• Adani Enterprises – In focus after Morgan Stanley reportedly upgraded rating.
• Vedanta – Promoter stake sale/block deal worth around ₹2,300 crore.
📊 STOCK SETUPS TO WATCH
• Infosys – Relative strength compared to broader market.
• Adani Enterprises – Momentum watch after brokerage upgrade.
• Pharma stocks – Sector showing resilience amid market weakness.
🎯 EXPECTED TRADING RANGE TODAY
✔️ Nifty Range:
• 23,600 – 24,000
✔️ Bank Nifty Range:
• 51,500 – 53,000
📅 IMPORTANT DATA / EVENTS TODAY
• Bank of Japan meeting minutes.
• US Current Account Data.
• US Crude Oil Inventory Data.
• US New Home Sales Data.
🎯 INTRADAY TRADING VIEW
👉 Positive opening expected, but sustainability depends on Nifty holding above 23,800. Above 23,930, a relief rally toward 24,000 is possible. Below 23,800, selling pressure may intensify toward 23,600–23,500.
📌 QUICK SUMMARY
• Global markets remain under pressure due to the technology and semiconductor sell-off.
• Gift Nifty and IT ADRs indicate a mildly positive start for Indian markets.
• Nifty remains weak below 24,000; support lies at 23,800 and 23,600.
• Lower crude prices and continued domestic institutional buying provide some support to sentiment.