Nifty Index opened with a strong gap-up of over 150 points at 25160, marking the day’s high at the open itself. Following the open, the index traded sideways within a very narrow range of just 40–50 points throughout the session. The good thing is that Nifty managed to stay above the 25000 level which is an important support. It formed a small bodied bearish candle on daily chart but continuing its sequence of higher high - higher lows for the last four sessions which shows supports are shifting higher. Now it has to hold above 25000 zones for an up move towards 25200 then 25400 levels while supports are shifting higher at 25000 then 24850 zones.
On option front, Maximum Call OI is at 25500 then 26000 strike while Maximum Put OI is at 25000 then 24800 strike. Call writing is seen at 25100 then 25200 strike while Put writing is seen at 25100 then 24400 strike. Option data suggests a broader trading range in between 24600 to 25600 zones while an immediate range between 24900 to 25300 levels.
S&P BSE Sensex opened on a positive note and traded in a narrow range of 300 points throughout the session, exhibiting a sideways movement. On the daily chart, it formed a small bodied candle following a strong up-move in the previous session. The index has been forming higher highs and higher lows over the past four sessions, reflecting underlying strength and support based buying. Now till it holds above 82200 zones, it can move higher towards 82700 then 83000 zones while supports are seen at 82200 then 82000 zones.
Bank Nifty opened on gap up at new life high territory near 57049 marks but remained consolidative in narrow range of 250 points in between 56800 to 57050 zones for entire trading session. It formed a small bearish candle on daily scale as some cooled off was seen from higher zones but buying interest was visible at lower levels and closed near 56850 zones. Index gave highest daily close as buying interest was seen in selective banking stocks as supports are gradually shifting higher. Now it has to hold above 56500 zones for an up move towards new life high of 57250 then 57500 zones while on the downside support is seen at 56500 then 56250 levels.
Nifty future closed positive with gains of 0.35% at 25185 levels. Positive setup seen in IIFL Finance, Bandhan Bank, MCX, MGL, Manappuram Finance, RBL Bank, IREDA, Laurus Labs, Bank Of India, OFSS, Muthoot Finance and Hindustan Zinc while weakness in Kalyan Jewellers, APL Apollo, Kaynes Technology, ICICI Bank, Mazagon Dock, Concor, ABFRL, Lupin and UPL.
FINCABLES - TECHNICAL CALL OF THE DAY
Stock is comfortably trading above its key 40-EMA levels which indicates strength in the near term. It has in fact respected the 100-EMA levels as support and trades above those levels. From May onwards, the stock has been making higher highs and higher lows which is a sign of a classic bullish pattern. This is supported by positive RSI divergence visible on daily charts and positive supertrend indicator as well.
BUY FINCABLES CMP 983.35 SL 955.00 TGT 1020.00
Top 5 stocks to watch out for 10th Jun
Protean eGov:
Protean eGov Technologies has been awarded a prestigious and strategically significant work order valued at approximately Rs 100 crore, on 9th June 2025, by the Bima Sugam India Federation (BSIF) through the RFP process.
Protean shall serve as the Technology Solution Provider for end-to-end development, implementation, support and maintenance of Bima Sugam Marketplace, platform integrations and marketplace protocols.
This engagement further strengthens Protean’s role as a trusted technology partner in India’s Digital Public Infrastructure (DPI) journey, building on its legacy of enabling critical citizen-centric digital systems at national scale.
Nibe Ltd:
The company has entered into a Licensing Agreement with Research & Development Establishment (Engrs.) (R&DE(E)), Pune, Defence Research and Development Organisation (DRDO), India, Ministry of Defence, Government of India for Transfer of Technology of “Modular Bridging System” of various lengths from 14m to 46m. This significant milestone reinforces Nibe’s commitment to the Government of India’s "Make in India" and "Atmanirbhar Bharat" initiatives in the defence sector.
ITD Cementation:
ITD Cementation India has secured a contract worth ~Rs 893 crore including GST for construction of Berth & Breakwater for the development of Greenfield Captive Jetty(s) in Odisha.
HCL Tech:
HCL Tech, inaugurated its delivery center in Thiruvananthapuram, Kerala. Located at the Technopark, the center will deliver projects across AI, GenAI, Cloud and emerging technologies to HCLTech’s clients across industry verticals. This is HCL Tech’s second delivery center in Kerala, following the inauguration of the first center in Kochi last October. The company aims to cultivate innovation-driven learning and offer career opportunities for aspiring IT professionals in the region.
Capri Global:
The company has announced launching a Qualified Institutional Placement (QIP) to raise up to Rs 2,000 crore including an upsize option of Rs 500 crore. The indicating issue price of the QIP is set at Rs 153.93 per share. Remember, the stock in Monday's trading session close to 20% to trade at Rs 181.55 per share.
