Nifty Prediction TodayThis week began on a strong note as the Nifty successfully broke above the major falling trendline resistance placed near the 23,800 mark, confirming the positive shift in market structure that we highlighted last week. Following the breakout, the index rallied towards the 24,150 zone, which had been identified as the next key hurdle. While the Nifty managed to surpass this level on an intraday basis, it is yet to deliver a convincing closing breakout above 24,100–24,150, which remains crucial for confirming the next leg of the uptrend. The latter part of the week saw some profit booking, with the index correcting towards the 23,900 zone, but importantly, the overall structure continues to remain constructive. We continue to maintain that a decisive move and close above 24,100–24,150 could trigger a fresh rally and open the path towards the higher targets discussed in our earlier outlooks. On the downside, there exists a gap support zone between 23,700 and 23,500, which also coincides with a potential retest of the recent trendline breakout area. Any correction towards this region should be viewed within the context of a healthy pullback rather than a trend reversal. Therefore, despite near-term volatility, our stance remains unchanged — buy on dips continues to be the preferred strategy as long as the broader market structure remains intact and key support zones hold.Nifty Support and Resistance Level L1L2CloseResistance241002430024,013Support2380023600 Exponential Moving AveragesExponential Moving Averages 200 DEMA24,60521 DEMA23,958Bank Nifty Prediction TodayBank Nifty continued to remain resilient this week and gained nearly 1.5%, although it did not outperform the broader market as it had already delivered substantial outperformance over the previous few weeks. In line with our expectations, the 57,500–58,000 zone acted as a strong hurdle for the index, as this region coincides with a previous swing high, a gap area, and a significant supply zone. While some consolidation around these levels is not surprising, the broader structure remains positive. We continue to maintain a constructive view on the index, but for Bank Nifty to resume its next leg of the uptrend and move towards new highs above 62,000, it will need to decisively surpass the 58,000 resistance zone. On the downside, immediate support has shifted higher to 57,000, and a move below this level could result in some short-term profit booking. However, such a correction is likely to be temporary in nature, with stronger support placed in the 56,000–55,500 zone. As long as these support levels remain intact, we continue to favour a buy-on-dips approach and expect Bank Nifty to remain structurally strong over the medium term.Bank Nifty Support and Resistance Level L1L2CloseResistance580005850057,685Support5700056000 Exponential Moving AveragesExponential Moving Averages 200 DEMA56,16621 DEMA55,823Share Market News and Events TodayPositive NewsKirloskar Oil Engines The company secures a significant order from HyperNext for large-scale data center infrastructure.Wipro The company completes acquisition of an additional 20% stake in Aggne Global IT Services.Bharat Forge The company signs a Rs. 425 crore contract with the Defence Ministry to supply gas turbine generators to the Indian Navy.Texmaco Rail & Engineering: The company receives a Letter of Intent worth Rs. 253 crore from JSW South Rail Logistics to supply BFNSM1 rakes.Power Mech: Co.Won order worth Rs 1,008.9 crore from JSW Thermal Energy..Zaggle Prepaid Ocean Services:The company enters a co-branding partnership with Punjab National Bank.Negative NewsBCL Industries: The company reports a major fire incident at its Bathinda distillery involving an ethanol tanker, with no injuries reported; fire remains under control and impact is being assessedMedPlus Health The company’s arm receives a one-day drug license suspension for a Telangana store.Som Distilleries & Breweries: The Excise Department rejects FY27 licence for the Bhopal plant; the company is pursuing legal remedies to restore the manufacturing licence.Aurobindo Pharma: US FDA issues 5 observations after pre-approval inspection at the Eugia Steriles Andhra unit conducted from June 10 to 19.

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