Stock Market Technical Analysis | 22nd to 25th June 2026 Weekly Wrap

Indian equities ended the week on a cautious positive note, with Nifty closing above the 24,000 mark despite volatile trading conditions. Banking stocks continued to outperform, while FII selling was absorbed by strong domestic institutional buying, keeping market sentiment resilient.

Expert recommendation by:

• Mr. Ketan Kaushik - Derivative Analyst

Equity

• Benchmark Index traded volatile in the previous week before closing with 0.18% gain at 24056 level. Banking Index outperformed the benchmark index as it closed with 0.85% gain at 58177 level.
• Among the Nifty constituents, INDIGO and CIPLA outperformed the benchmark index as they closed with 8.53% and 6.53% gains while HINDALCO and ONGC underperformed as they closed with 5.62% and 5.34% cut respectively. Among the Bank Nifty constituents ICICIBANK outperformed the benchmark index as it closed with 3.04% gain while CANBK underperformed the benchmark index as it closed with 3.58% cut.
• Among sectors, NIFTYPHARMA index outperformed the benchmark index during the previous week as it closed with 2.08% gain while NIFTYMETAL index underperformed as it closed with 4.42% cut. Broader market underperformed the benchmark index as MIDCAP index closed with 1.15% cut while SMALLCAP index closed with 0.02% gain.
• Volatility index (India VIX) closed with 0.62% gain at 13.05 level.
• FII were net sellers as they sold stocks worth Rs 2,078 Cr while DII were net buyers as they bought stocks worth Rs 11,101 Cr during the previous week in the cash segment.
• Globally, equity markets traded with a positive bias as both US market (DJIA) and European market (STOXX 600) closed with 0.60% and 0.04% gains respectively.

Derivatives

• Derivatives data for Nifty suggest max OI addition at 24200 call and 24100 put side with max OI at 25000 call and 24000 put side (30th Jun expiry). Nifty cumulative PCR closed at 1.06 for Jun 25.
• Derivatives data for Bank-nifty suggest max OI addition at 58500 for both side call and put side with max OI at 60000 call and 54000 put side (30th Jun expiry). Bank-nifty cumulative PCR closed at 1.08 for Jun 25.

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Performance:

Indices

Source: NSE

Sector Gainers/Losers

Source: NSE

FII / DII ACTIVITY (WEEKLY)

Source: NSE

SUPPORT/RESISTANCE LEVEL FOR UPCOMING WEEK

Source: NSE

DAILY EXPONENTIAL MOVING AVERAGE

Source: NSE

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

• Benchmark index traded volatile in the previous week before closing with indecisive candlestick formation on the weekly chart
• Benchmark index is likely to trade volatile in the coming week
• Benchmark Index has support at 23,500–23,200 level and resistance at 24,500–24,800 level

BANKNIFTY (WEEKLY)

• Banking index outperformed the benchmark and closed with indecisive candlestick formation on the weekly chart
• Banking index is likely to perform in line the Benchmark index in the coming week
• Banking index has support at 56,500-56,000 and resistance at 59,500-60,000 level

FINNIFTY (WEEKLY)

• FINNIFTY index outperformed the banking index and closed with indecisive candlestick formation on the weekly chart
• FINNIFTY is likely to trade in line with the banking index in the coming week
• FINNIFTY has support at 26,000-25,800 level and resistance at 27,300-27,500 level.

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Market FAQs – Weekly Summary

1. How did Nifty perform during the previous week?

Nifty closed at 24,056, gaining 0.18% on a weekly basis despite experiencing volatility throughout the week.

2. Why did Bank Nifty outperform Nifty?

Bank Nifty rose 0.85% to 58,177, supported by strength in private banking stocks, particularly ICICI Bank.

3. Which sectors performed best and worst during the week?

Nifty Pharma was the top-performing sector with a 2.08% gain, while Nifty Metal underperformed with a 4.42% decline.

4. What does the current India VIX level indicate?

India VIX closed at 13.05, which falls within the moderate volatility zone, suggesting markets are pricing in manageable uncertainty.

5. How did FIIs and DIIs behave during the week?

FIIs were net sellers worth ₹2,078 crore, while DIIs remained net buyers with purchases worth ₹11,101 crore, helping support market stability.

6. What are the important support and resistance levels for Nifty?

Key support levels are placed around 23,500 and 23,200, while resistance levels are seen near 24,500 and 24,800.

7. What does the Nifty PCR of 1.06 suggest?

A PCR above 1 generally indicates balanced to mildly bullish market sentiment, though traders should monitor changes in open interest positioning.

8. What are derivatives data indicating for Nifty?

Maximum open interest remains at the 25,000 Call and 24,000 Put strikes, highlighting these as important resistance and support zones respectively.

9. What are derivatives data indicating for Bank Nifty?

Bank Nifty witnessed significant activity at the 58,500 strike on both call and put sides, suggesting this level could act as a key pivot zone.

10. What factors should investors track in the coming week?

Investors should monitor FII-DII flows, India VIX movement, global market trends, derivatives positioning, and key support-resistance levels for market direction.

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• India VIX Explained
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