Nifty Prediction TodayAs anticipated in our previous outlook, the 23,800 zone once again acted as a strong hurdle, preventing the Nifty from sustaining higher levels. The index faced selling pressure from near the resistance zone and gradually drifted lower through the week. Importantly, the decline helped fill the unfilled gap area on the downside, with the Nifty finding support near 23,150, very close to our highlighted 23,100 support zone. From a broader perspective, there is no major change in our view. The crucial 23,300–23,100 support band continues to hold and remains the most important level to watch going forward. As long as this zone remains intact, we believe the broader structure remains constructive and the possibility of an upward move cannot be ruled out. On the upside, 23,800 remains the immediate hurdle for the index. A sustained move above this level can open the doors for a retest of the 24,100 resistance zone, which continues to be the key supply area. Until a decisive breakout is witnessed, the market is likely to remain within a broad consolidation range. While the near-term price action may continue to test investors’ patience, the fact that the index has once again respected the 23,100 support region is encouraging. The focus now remains on whether buyers can defend this zone and eventually push the index above the 23,800 resistance mark in the coming sessions.Nifty Support and Resistance Level L1L2CloseResistance238002430023,366Support2300022500 Exponential Moving AveragesExponential Moving Averages 200 DEMA24,68021 DEMA23,915Bank Nifty Prediction TodayBANK NIFTY continued to outperform the broader markets during the week and managed to close with marginal gains, despite the volatility witnessed across benchmark indices. While the index faced some profit booking at higher levels, it remained relatively resilient and comfortably outperformed the Nifty on a relative basis. There is no major change in our broader view. The breakout above the 54,500 zone remains valid, and the banking index continues to display stronger price structure compared to the broader market. As long as 52,800–53,200 remains protected on the downside, the overall trend continues to favor the bulls. On the upside, 55,500 remains the immediate hurdle to watch. A decisive breakout above this level could trigger fresh momentum and open the doors for a move towards the 56,000–58,000 zone over the coming weeks. Until then, some consolidation within the broader range cannot be ruled out. Overall, we continue to maintain a positive stance on the banking space and expect BANK NIFTY to outperform the broader market going forward, supported by its relatively stronger technical structure.Bank Nifty Support and Resistance Level L1L2CloseResistance550005650054,307Support5400053500 Exponential Moving AveragesExponential Moving Averages 200 DEMA56,13721 DEMA54,373Share Market News and Events TodayPositive NewsHG Infra: Received completion certificate for a Rs 4,971 crore EPC project in Uttar Pradesh from Adani Road Transport.TVS Motor: The company’s HLX motorcycle series crosses 5 million global sales milestone.Amber Enterprises: Arm formed ILJIN Technologies JV with Singularity. The new entity will focus on defence and aerospace electronics.MOIL: Incorporated a JV with MP State Mining Corporation for manganese ore mining. MOIL will hold a 51% stake, while MPSMCL will hold 49%RailTel Corp: Received a Rs 41.3 crore order from the Uttar Pradesh Police Recruitment and Promotion Board for security-related ancillary services.Hindustan Zinc: Signed an MoU with TERI for a 250-hectare restoration project in Rajasthan.Negative NewsTata Steel: The company clarifies that a fire occurred at its UK arm’s Port Talbot plant on June 3, with no injuries reported and impact under assessment.(Negative)5paisa Capital: Received a SEBI show-cause notice over investment adviser registration and non-payment of renewal fees.Yes Bank: Received a Rs 63 crore tax demand from a Maharashtra authority.

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