Here’s a simple summary of the stock market outlook for Wednesday, June 18:
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Opening Expectation: The Indian stock market is expected to open flat, with Gift Nifty at 24,852, near Tuesday’s close of 24,853.4.
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Reason for Caution: Rising tensions between Israel and Iran are pushing oil prices higher, making investors more cautious.
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Support/Resistance for Nifty:
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Support: 24,730 to 24,650
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Resistance: 25,080 to 25,150 (intraday)
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Global Cues
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Asian Markets: Weak; MSCI Asia ex-Japan index fell 0.5%.
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US Markets: Closed in the red as the Israel-Iran conflict entered Day 6.
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Oil Prices: Rising due to war concerns; bad for India's inflation and currency as it imports most of its oil.
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US Fed Meeting: Expected to keep rates unchanged, but markets await updates on economic outlook.
Investor Activity
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Domestic Investors (DIIs): Net buyers for 21 days in a row.
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Foreign Investors (FPIs): Turned buyers on Tuesday after 4 days of selling.
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Rupee under pressure, adding uncertainty for foreign investors.
Technical View
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Candlestick Pattern: A “Dark Cloud Cover” has formed — often signals a trend reversal.
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Important Range: 24,650 to 25,100 — will help decide next 2% to 4% move in Nifty.
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Nifty PE Ratio: Increased from 21.20 to 22.42, suggesting investor optimism.
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Dividend Yield: Currently 1.115% — typically a bullish signal when low.
Conclusion: Market may stay flat or slightly volatile due to war, oil prices, and Fed policy. Investors should keep an eye on 24,650–25,150 as the key zone for Nifty.
