The Indian stock markets are expected to open higher amid mixed global trends and a sharp fall in oil prices. GIFT Nifty also indicates a gap-up start, trading at 24,133.5 with a premium of 110.5 points from its previous Nifty futures close.
Brent crude futures declined 1.80% to $72.41 a barrel. US West Texas Intermediate (WTI) fell 1.59% to $69.22 a barrel.
On Wednesday, the Sensex rose 790.54 points or 1.04% to settle at 76,991.22, while the Nifty 50 advanced 197.55 points or 0.83% to close at 24,021.65.
Foreign Institutional Investors (FIIs) remained net sellers in Indian equities on June 25, 2026. FIIs net sold shares worth Rs. 1,843 crore, DIIs net bought Rs. 3,637 crore.
Sectorally, Realty and IT indices outperformed, rallying over 2%, whereas the Defence index lost the most, shedding over 2%.
Technically, the Sensex formed a promising reversal pattern on intraday charts and a bullish candle on daily charts.
"We are of the view that as long as the market is trading above 76,700, the pullback formation is likely to continue. On the higher side, the rally could extend to 77,500-77,700. On the flip side, below 76,700, sentiment could change. Below this level, the market could retest 76,400-76,200," said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
The Nifty 50 staged a strong rebound on Wednesday and managed to close above the psychologically important 24,000 level. On the daily chart, the index formed a bullish piercing line candlestick pattern, indicating strong buying demand near the support zone around 23,800.
This support area is significant as it coincides with the previous gap zone and the confluence of the 20-day and 50-day exponential moving averages (EMAs), making it an important level for traders and investors.
"Nifty managed to hold above the support area of 23,800 and witnessed a pullback in today's session. Going ahead, bias remains positive and the index is expected to head higher towards last week's high of 24,190 levels in the coming session. Dips, if any, towards 23,900 should be used as a buying opportunity," said Bajaj Broking Research.
Immediate support is seen around 23,900, while stronger short-term support is placed in the 23,500-23,600 zone. On the upside, the next major resistance is placed near 24,600.
Also Read: ICICI Bank at Rs. 1,374 Leads Banking Rally as Sensex Jumps 733 Points, Nifty Nears 24,000
On Wednesday, Bank Nifty rose 966.60 points or 1.69% to close at 58,150.35, forming a bullish engulfing pattern on the daily chart.
"Going ahead bias remains positive and index to gradually head towards 59,200 levels in the coming sessions, being the measuring implication of the recent range breakout and the 138.2% external retracement of the previous decline 57456-52783," said Bajaj Broking.
Technical indicators continue to support the positive outlook. The lows recorded over the past two weeks near 57,000 remain a crucial support zone, and the index is expected to maintain its bullish bias as long as it holds above this level.
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