NIFTY50 extends gains for fourth day, key support at 23,300

Markets started the week on a positive note, extending last week's gains. The NIFY50 rose 0.3% to 23,557, opening over 100 points higher and closing at a record high. Meanwhile, the SENSEX gained 0.4% to end the day at 77,301.

Sector-wise, Realty led the gains with a 1.8% rise, followed by Banks at 0.8%. On the downside, Pharma fell by 0.5% and Metals slipped by 0.2%.

The technical structure of the NIFTY50 on the daily chart remains strong. The index has moved steadily higher over the past few sessions, consolidating its gains on an intraday basis. As the broader trend remains positive, the NIFTY50 has immediate support at 23,300, while resistance is at 24,000, where the highest call open interest is positioned for the June 20 expiry.

• Top gainer and loser in NIFTY50: Shriram Finance (+3.5%) and Maruti Suzuki (-2.2%)

• The broader markets continued last week’s momentum, with the NIFTY Midcap 100 index rising 0.4% and the Smallcap 100 index gaining over 1%.

• Top gainer and loser in NIFTY Midcap 100: Fertilisers And Chemicals Travancore (+10.2%) and Bank of India (-2.8%)

• Top gainer and loser in NIFTY Smallcap 100: Cochin Shipyard (+9.3%) and Kalpataru Projects (-4.5%)

Key highlights of the day

Top traded futures contracts

Top traded stock options contracts

4 trading insights from NIFTY 200🔍

📉Open = High (Bear power): Bank of India, One 97 Communications (Paytm), Jindal Steel, ABB and Ambuja Cements

📈Open = Low (Bull power): Bosch, Balkrishna Industries, Power Grid, Voltas and Fsn E-Commerce Ventures (Nykaa)

🏗️Fresh 52 week-high: Mazagon Dock Shipbuilders, Hindustan Aeronautics, Avenue Supermarts (DMART), GMR Airports Infrastructure and Shriram Finance

⚠️Fresh 52 week-low: N/A

See you tomorrow!