On Tuesday, the Nifty opened on a positive note but struggled to sustain its highs, moving into range-bound trading early in the session. This choppy movement persisted until the close, with the Nifty eventually closing at 25,104.
Both the Nifty Midcap and Smallcap indices continued their upward journey where they ended with the minor gains along with the Nifty. The Nifty Smallcap index continued its upward journey for the seventh day in a row, to close at highest level since January 3, 2025.
Tata Motors built upon Monday’s gains, rising 2% on a positive outlook. Brokerage firms also shared their views following Tata Motors’ Annual Investor Day, where the company outlined its outlook and growth strategy for its India operations.
In contrast, Maruti Suzuki slipped following reports it would cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds due to rare earth shortages between April and September.
On the institutional front, foreign and domestic investors were net buyers on Monday (June 9), infusing around ₹5,500 crore and providing key support to the market.
Investors will be closely watching Trump’s speech later today, the US inflation report due on Wednesday, and India CPI due on Thursday, for further direction.
Looking ahead, Siddhartha Khemka of Motilal Oswal expects markets to continue to consolidate and remain range-bound with a positive bias.
What does the Nifty 50 charts indicate?
After breaking above the hurdle at 25,000 levels, the Nifty was not able to gather momentum to witness a decisive upside breakout on Tuesday, said Nagaraj Shetti of HDFC Securities.
“Despite showing choppy movement in the short term, the near-term uptrend setup of Nifty remains positive and a sustainable move above 25,200 levels could open the next upside towards 25,600 levels in the near term. Immediate support is placed at 25,000-24,900 levels,” Shetti said.
LKP Securities’ Rupak De said a fall below 24,850 could trigger a correction. “This positive sentiment is likely to persist and the sentiment favour long trades as long as the index remains above the key support level of 24,850. On the higher side, the index may move towards 25,350 in the short term, with the potential for an extended rally if it breaks decisively above 25,350.”
According to Nandish Shah of HDFC Securities, positional trend remains bullish with support seen in the band of 24,900-25,000 for Nifty. “On the upside, the 25,200 level could offer immediate resistance, as the market looks to digest recent gains before its next directional move.”
