Trade setup for June 27: NIFTY50 gives breakout from consolidation, will it sustain? Here's all you need to know

Asian markets

Asian markets are trading in green with strong gains across the board on buoyancy in the US markets. The Japanese markets crossed the 40,000 mark, hovering around the record high levels. Similarly, the Hong Kong and Korean indices also traded in green amid easing geopolitical tensions.

US markets

The S&P 500 and NASDAQ closed at record high levels amid a sharp rally in tech stocks on Thursday. The Dow Jones also closed over 400 points higher after easing geopolitical tensions helped cheer investor sentiments. The key trigger to the global market rally came from the White House after the press secretary said the July 9 deadline for restarting the tariffs may be extended.

Following the bouyant global markets, the GIFT NIFTY futures traded over 170 points higher on Friday morning, indicating gap up opening on Indian markets on Frirday.

NIFTY50

Max call OI:26,000

Max put OI:25,200

(Ten strikes to the ATM, 3 July Expiry)

NIFTY50 closed at over 1.2% higher on Thursday on the monthly expiry after giving a strong breakout above the recent swing high trendline. The index closed at the highest levels in 2025 and traded 2.4% away from the previous record high of 26,277.

On technical charts, the index closing above the previous swing high trendline indicates strong bullish momentum. Experts believe the index outlook remains bullish, with the next resistance level of 26,000 for the index. On the options data front, 26,000 calls for the July 3rd expiry hold the highest open interest, indicating resistance at these levels. On the downside, 25,200 puts hold the highest open interest, indicating support for the current weekly expiry.

Stock Scanner

Long buildup: Jio Financial Services, Shriram Finance, Bajaj Finance, Tata Steel

Short buildup:

Top traded futures contracts: HDFC Bank, Reliance, ICICI Bank

Top traded options contracts: SBI 850 CE, SBI 840 CE

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