On June 10, the Nifty 50 index touched the 25,200 level as expected during early trade but couldn’t hold those gains due to profit booking. This led to a flat close, with the index ending the day slightly up by 1.05 points at 25,104.
Despite the choppy movement, the index stayed above a long-term falling resistance trendline and hovered near the upper Bollinger Band, which has now entered expansion mode. These technical signs, along with a declining India VIX (down 4.61% to 14.02, its lowest since April 4), are seen as positive for market sentiment. If Nifty sustains above 25,200, it could head towards 25,300–25,500 in the near term, with immediate support seen around 25,000–24,900 levels.
During the day, Nifty opened higher and hit an intraday high of 25,199 but quickly dropped to 25,055 due to profit-taking before recovering and trading within a narrow range for the rest of the session. On the daily chart, it formed a bearish candle with a small lower shadow. The RSI remained steady at 61.82, still in the bullish zone, while the MACD showed upward momentum with strengthening histogram bars, indicating a continued positive trend.
In the options market, the highest Call open interest was at the 26,000 strike, followed by 25,500 and 25,200, with significant Call writing at 25,200. On the Put side, the 25,000 strike had the highest open interest, followed by 24,500 and 24,800, while maximum Put writing was seen at 25,100.
The Bank Nifty index ended its four-day winning streak, falling 210.5 points to close at 56,629 due to profit booking. It formed a bearish candle with a lower high and lower low but managed to stay near the upper Bollinger Band, which is also expanding. The MACD continued to show strength with a positive crossover and a healthy histogram, while the RSI slightly dipped but stayed above 60 at 66.03, maintaining bullish momentum.
After an initial 15-minute drop, Bank Nifty remained rangebound. For the second day in a row, it showed an “Open = High” setup, which may have trapped aggressive short sellers. A sustained move above 57,050 could trigger a short-covering rally towards 57,500.
Among stocks, the top Nifty gainers were Grasim Industries, Dr Reddy's Labs, Tech Mahindra, Tata Motors, and Infosys. On the flip side, Trent, Asian Paints, Bajaj Finance, Tata Steel, and Bajaj Finserv ended in the red. Sector-wise, the realty index dropped 1%, while the IT index gained 1.7%. Media and power sectors also posted nearly 1% gains.
IREDA - TECHNICAL CALL OF THE DAY
Stock has given a breakout with good volume as indicated by the trendline in the daily chart. It is also trading above its key 40/100 and 200-EMA levels reflecting strength in stock price. The supertrend indicator is also positive supported by positive RSI divergence as well.
BUY IREDA CMP 182.45 SL 173.10 TGT 195.70
Top 5 stocks to watch out for 11th Jun
HCL Tech:
HCL Tech announced an expansion of its partnership with Standard Insurance Company (The Standard), a leading provider of financial protection products and services for employers and individuals.
This expanded partnership with The Standard will deliver AI-driven infrastructure and application services to boost efficiency, support rapid growth and enhance customer experience.
This collaboration will also accelerate The Standard’s shift to an IT products and services-based operating model, enabling greater agility, customer value and progress toward the company’s long-term digital transformation goals.
Kaynes Technology:
Kaynes Technology's wholly-owned subsidiary, Kaynes Semicon Private Ltd, has entered into an asset purchase agreement with Fujitsu General Electronics Limited, Japan. The agreement involves the acquisition of identified assets, including production lines for power modules, for a consideration of 1.59 billion yen. This acquisition is expected to bolster Kaynes presence in the semiconductor industry, particularly in the power module segment.
Wipro:
Wipro announced the extension of its partnership with Metro AG (“Metro”), an international food wholesaler, for an additional two years. Under the renewed agreement, Wipro will continue to provide Metro with integrated digital services across cloud, data, application development, and AI-enabled IT support services.
Maruti Suzuki:
According to media sources, Maruti Suzuki's Commercial roll out of the e-Vitara is likely to be delayed due to the rare earth magnet crisis. Not only has the company cut its production targets for the e-Vitara till September, it has also slashed FY26 production outlook for the e-Vitara from 88,000 to 67,000 units. Further, Maruti hopes to adjust production schedule October onwards and meet the revised full year guidance. Currently vehicles are being made at the Maruti plant but the quantities are reduced.
Texmaco:
The company has informed exchanges that Mumbai Railway Vikas Corporation Ltd has awarded an order of Rs 44.04 crore for Supply, Construction, Installation, Testing and Commissioning of traction transformers, SPs & associated works for 3rd & 4th lines of Central Railway. The time period for the said order is to be executed in 18 months.
