Nifty and Sensex rise; FIIs and DIIs continue buying spree

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NSE Nifty was up by 0.06 per cent or 21 points at 23,576, while the BSE Sensex was at 77,445, up by 0.19 per cent or 144 points at 9.40 am

Devan Mehata, Research Analyst, Choice Broking, said, “The benchmark Sensex and Nifty indices are expected to open positive on June 19, following GIFT Nifty trends indicating a gain of 90 points for the broader index.

After a gap-up opening, Nifty could find support at 23,500, followed by 23,450 and 23,400. On the higher side, 23,650 can be an immediate resistance, followed by 23,700 and 23,800.

The Bank Nifty charts indicate that it may get support at 50,200, followed by 50,000 and 49,900. If the index advances further, 50,600 would be the initial key resistance, followed by 50,750 and 50,900.

Foreign Institutional Investors (FIIs) extended their buying support as they bought equities worth ₹2,569 crore on June 18, while domestic institutional investors bought equities worth ₹1,555 crore on the same day.

The INDIAVIX was flat-to-positive by 1.11 per cent yesterday and is currently trading at 12.9650.

“We have witnessed the Nifty moving higher and making fresh all-time high levels. Even today, the Nifty is set to make a fresh all-time high with a gap, backed by global markets. Traders going long can hold with a trailing stop loss of 23400 on a closing basis.”

Major gainers on the NSE include ICICI Bank (1.52 per cent), IndusInd (1.47 per cent), Kotak Bank (0.81 per cent), Axis Bank (0.74 per cent), and JSW Steel (0.68 per cent). Top losers include Titan (-2.17 per cent), Shriram Finance (-1.92 per cent), BPCL (-1.62 per cent), Coal India (-1.56 per cent), and Adani Enterprises (-1.43 per cent).