Stock market on June 20: Here are 5 things to know before opening bell

The Indian equity benchmarks are set to open on a subdued note on Friday as indicated by NIFTY futures traded at Gift City in Ahmedabad. NIFTY futures at Gift City also known as Gift NIFTY futures fell 0.02% or 5 points to 24,782 as of 7:34 am. In yesterday's session SENSEX and NIFTY ended rangebound session with minor losses.

Here are 5 things to know before opening bell

Asian markets

The one-year loan prime rate (LPR) was kept at 3.00%, while the five-year LPR was unchanged at 3.50%.

In a Reuters poll of 20 market participants conducted this week, all participants predicted no change to either of the two rates.

Iran-Israel conflict update

The White House said US President Donald Trump will make a decision within the next two weeks whether to get involved on Israel's side.

Israel has been hitting Iran from the air since last Friday in what it describes as an effort to prevent Tehran from developing nuclear weapons. Iran has denied plans to develop such weapons and has retaliated by launching counter strikes on Israel.

FII/DII activity

Foreign institutional investors bought shares worth ₹935 crore on Thursday and domestic institutional investors purchased stocks worth ₹606 crore.

In derivatives segment, FIIs bought index futures worth ₹425.85 crore and they also bought index options worth ₹30,175 crore.

NIFTY50 trade setup

On the technical front, the index continues to hover around the 21 EMA level of 24,800 on NIFTY50. The index is likely to form an inverted hammer pattern on weekly charts, indicating a reversal previous week’s correction. However, experts believe the index could continue its time correction for a few more days.

On the options front, 25,000 calls hold the highest open interest for the 26 June expiry, indicating the resistance remains at these levels. On the other hand, the downside remains capped with 24,500 puts holding the highest open interest for the coming weekly expiry.

Crude price check

Oil prices jumped almost 3% on Thursday as a week-old air war between Israel and Iran escalated and uncertainty about potential US involvement kept investors on edge.

Brent crude futures settled up $2.15, or 2.8%, to $78.85 a barrel, its highest close since January 22.

There was no sign of an exit strategy from either side, as Israeli Prime Minister Benjamin Netanyahu said Tehran's "tyrants" would pay the "full price" and Iran warned against a "third party" joining the attacks.