Nifty Index opened on a flattish note, but bears took charge right from the opening tick, as the index witnessed selling pressure from higher levels.
It inched lower throughout the session, with every small bounce being sold into, indicating persistent weakness. Due to this pressure, the index slipped below the psychological 25,000 mark, breaching it after the recent breakout. Nifty corrected more than 350 points from its intraday high and took support near its 20-day EMA, witnessing a minor recovery in the last hour. It formed a large bearish candle on the daily chart, wiping out gains of the last three sessions. The index also negated its recent sequence of higher highs and ended the day with losses of around 250 points. Now till it holds below 25000 zones, profit booking could be seen towards 24750 then 24600 zones while hurdles can be seen at 25000 then 25100 zones.
On option front, Maximum Call OI is at 25200 then 25500 strike while Maximum Put OI is at 24000 then 24500 strike. Call writing is seen at 25100 then 25000 strike while Put writing is seen at 24900 then 24000 strike. Option data suggests a broader trading range in between 24400 to 25400 zones while an immediate range between 24600 to 25100 levels.
S&P BSE Sensex opened on a flat to positive note but failed to surpass the key resistance at 82700 levels. This triggered a sharp selloff, pushing the index down towards 82100 levels. In the latter half of the session, the index breached this support and extended its decline towards the next support near 81500, which also coincides with its 20 DEMA. The Sensex ended the session with a significant loss of around 800 points. On the daily chart, a bearish candle was formed, highlighting persistent selling pressure at higher levels. Now till it holds below 82000 zones, profit booking could be seen towards 81500 and 81200 levels whereas hurdles are placed at 82000 then 82300 levels.
Bank Nifty opened on a flattish note but failed to hold 56600 zones and gradually drifted lower towards 55968 marks at latter part of the session. It formed a Bearish candle on daily scale as selling pressure was seen at higher zones and forming lower highs from last few sessions as banking heavyweights relatively underperformed. Index corrected almost 1100 points from its all-time high territory and now hovering near its 20 DEMA. Now till it holds below 56250 zones some weakness could be seen towards 55750 then 55555 levels while on the upside hurdle is seen at 56250 then 56500 zones.
Nifty future closed negative with losses of 1.20% at 24909 levels. Positive setup seen in DR Reddy, Techm, SBI Card, Muthoot Finance, AU Bank, Max Health, Torrent pharma, Apollo hospitals, RBL Bank, Wipro and LTIM while weakness in ABFRL, Shriram finance, IEX, Piramal pharma, Petronet, Dixon, Titan, Powergrid, Cipla and LT.
MOL – TECHNICAL CALL OF THE DAY
The stock is in uptrend as visible via trendline in charts. It is also comfortably trading above all its key moving averages which itself indicates strength in stock price. After breaking out at 85 the stock has moved northwards and it seems now it is consolidating before attempting to break out to the next level. The super trend indicator is also positive with increasing RSI and volumes all reflecting bullish implications.
BUY MOL CMP 91.61 SL 88.69 TGT 95.57
Top 5 stocks to watch out for 13th Jun
DCM Shriram:
The Board at its meeting held on 12th June 2025 has approved Definitive Agreements to be entered into for acquiring 100% equity share capital of “Hindusthan Speciality Chemicals Ltd”, having presence in Epoxy & Advanced Materials business in Bharuch, Gujarat amounting to Rs 375 crore. This acquisition mark the entry of the chemicals business of DCM Shriram as a downstream integration of Epichlorohydrin (ECH).
HCL Tech:
HCL Tech announced that Volvo Cars has chosen them as one of its strategic suppliers for engineering services. Volvo Cars has been at the forefront of automotive innovation for many years and has set out to shape the future of mobility with strong ambitions on sustainable growth.
This agreement significantly expands HCL Tech’s role to cover the delivery of end-to-end engineering solutions at scale. The strategic collaboration will see the company support Volvo Cars’ engineering future ambitions from its automotive Centre of Excellence in Gothenburg, as well as its global offshore and nearshore delivery centers.
Torrent Power:
Torrent Green Energy, a wholly owned subsidiary of Torrent Power has emerged as successful bidder under competitive bidding and has received Letter of Award (LoA) from Solar Energy Corporation of India (SECI) for setting up of 300 MW Wind power project under Wind Tranche-XVIII. The Project, with a tariff of Rs 3.97 per unit is to be commissioned within 24 months from the date of execution of the PPA, with an estimated investment of about Rs 2,650 crore.
ICRA:
The Board of ICRA has granted its approval for the acquisition of 100% shareholding in Fintellix India Pvt Ltd (“Fintellix”) for a consideration equivalent to USD 26 million. Fintellix, a Bengaluru based product-led company, specialising in risk, supervisory, and data analytics solutions on its proprietary data platform. Fintellix enables global financial sector entities to meet regulatory requirements while efficiently managing data and providing superior analytics.