Chart Commando

📈 DAILY MARKET UPDATE

📅 Date – 24 June 2026

1️⃣ VERY IMPORTANT NEWS

• Sharp global sell-off triggered by concerns over AI semiconductor demand after reports that South Korean chipmaker SK Hynix may focus more on conventional DRAM production than aggressively expanding HBM memory capacity.

• US technology stocks witnessed heavy profit booking; AI and semiconductor stocks led the decline.

• Crude oil prices remained under pressure amid easing geopolitical concerns and improving prospects of a US-Iran diplomatic resolution.

🌍 GLOBAL MARKET

✔️ US Markets:
• S&P 500 -1.44%, Nasdaq -2.21%, Dow Jones -0.09%; semiconductor stocks were the biggest laggards.

✔️ Asia Market Update:
• Japan's Nikkei 225 mildly negative.
• South Korea's KOSPI rebounded over 2% after the previous session's sharp decline.

✔️ Gift Nifty Signal:
• Indicates ~20–30 points positive opening around 23,850–23,870.

✔️ Crude Oil:
• WTI near $73/barrel; Brent near $77/barrel.

✔️ Dollar Index:
• Remains strong, supporting risk-off sentiment globally.

✔️ Volatility Index (VIX US):
• Rose to around 19.5 after a sharp spike.

🇮🇳 INDIAN MARKET OVERVIEW

✔️ Sector Trend:
• Positive: IT, Pharma.
• Weak: Metal, Banking, PSU-related counters.

✔️ Market Sentiment / Trend:
• Short-term cautious to bearish below 24,000.
• Relief bounce possible above 23,930.

✔️ Volatility (India VIX):
• Rose 8.6% to 13.94, indicating higher volatility.

💰 FII & DII DATA

✔️ FIIs:
• Net Buyers: ₹18 Cr

✔️ DIIs:
• Net Buyers: ₹680 Cr

📊 COMMODITIES UPDATE

✔️ Crude:
• Weak; favorable for India.

✔️ Gold:
• Corrected nearly 2% amid stronger US Dollar.

✔️ Silver:
• Traded with negative bias alongside broader commodity weakness.

📊 OPTIONS DATA (OI BUILD-UP)

✔️ Call OI:
• Highest at 24,000 strike.
• Fresh Call Writing: 24,000, 24,100, 23,900.

✔️ Put OI:
• Highest at 24,000 strike.
• Fresh Put Writing: 23,500, 23,400, 24,000.

✔️ PCR:
• 0.88 (Bearish to Neutral)

📈 NIFTY LEVELS

✔️ Trend: Short-Term Bearish

• Immediate Support: 23,800

• Major Support: 23,600 – 23,500

• Immediate Resistance: 23,930

• Strong Resistance: 24,000 – 24,100

📉 BANK NIFTY LEVELS

✔️ Trend: Weak / Consolidation

• Immediate Support: 52,000

• Major Support: 51,500

• Immediate Resistance: 52,500

• Strong Resistance: 53,000

📊 STOCKS / SECTORS IN NEWS

• Infosys – Positive sentiment after management highlighted AI-led growth opportunities.

• Adani Enterprises – In focus after Morgan Stanley reportedly upgraded rating.

• Vedanta – Promoter stake sale/block deal worth around ₹2,300 crore.

📊 STOCK SETUPS TO WATCH

• Infosys – Relative strength compared to broader market.

• Adani Enterprises – Momentum watch after brokerage upgrade.

• Pharma stocks – Sector showing resilience amid market weakness.

🎯 EXPECTED TRADING RANGE TODAY

✔️ Nifty Range:
• 23,600 – 24,000

✔️ Bank Nifty Range:
• 51,500 – 53,000

📅 IMPORTANT DATA / EVENTS TODAY

• Bank of Japan meeting minutes.

• US Current Account Data.

• US Crude Oil Inventory Data.

• US New Home Sales Data.

🎯 INTRADAY TRADING VIEW

👉 Positive opening expected, but sustainability depends on Nifty holding above 23,800. Above 23,930, a relief rally toward 24,000 is possible. Below 23,800, selling pressure may intensify toward 23,600–23,500.

📌 QUICK SUMMARY

• Global markets remain under pressure due to the technology and semiconductor sell-off.

• Gift Nifty and IT ADRs indicate a mildly positive start for Indian markets.

• Nifty remains weak below 24,000; support lies at 23,800 and 23,600.

• Lower crude prices and continued domestic institutional buying provide some support to sentiment.

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