Nifty Prediction for Today – 23 June 2025 | Technical Outlook, Market Sentiment & Trading Strategy
The Indian stock market surged with renewed optimism on Friday, 20 June 2025, as the Nifty 50 index jumped by a massive 319.15 points to close at 25,112.4, marking a 1.29% gain. This sharp rally pushed the index above the psychological 25,000 mark, reflecting strong bullish sentiment and breaking past the recent consolidation zone. The momentum was largely driven by heavy buying in financials, energy, and select consumer stocks.
Nifty Market Summary – 20 June 2025
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Index: Nifty 50
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Closing Level: 25,112.40
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Points Gained: +319.15
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Percentage Change: +1.29%
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Market Breadth: 43 advances vs. 7 declines (out of Nifty 50 constituents)
The rally was broad-based with participation from frontline stocks. Major contributors included Reliance Industries (+2.15%), HDFC Bank (+1.44%), and ICICI Bank (+1.07%), which collectively drove over half of the index’s gains. The market sentiment was boosted by improved global cues, a rebound in crude oil prices, and institutional buying in blue-chip stocks.
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Sector Performance and Market Drivers
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Financials: Remained strong with participation from private banks and NBFCs like HDFC Bank, ICICI Bank, and Bajaj Finance.
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Energy: Reliance led the charge with solid gains on the back of firm global crude oil prices.
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Auto and Consumer: Continued to gain traction as demand sentiment remained positive.
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IT Sector: Underperformed as global tech sentiment remained cautious; Infosys and TCS showed limited movement.
Technical Analysis for Nifty – 23 June 2025
On the technical front, Nifty has decisively broken out of its previous resistance zone of 24,926 – 24,989 and is now trending above the 25,000 mark. The breakout is accompanied by strong volume, confirming the bullish momentum.
RSI has improved and is now trading above 60, indicating increasing strength in price movement. The index has formed a bullish candle on the daily chart, and there is potential for further upside as long as the index holds key support levels.
Key Support Levels :
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24,885 – Immediate support zone
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24,658 – Previous breakout level
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24,533 – Strong base and 20-day EMA
Key Resistance Levels :
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25,238 – Immediate upside resistance
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25,363 – Fibonacci extension target
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25,590 – Potential short-term top
A daily close above 25,363 could set the tone for a rally toward 25,500+ levels in the coming sessions.
Trading Strategy for Nifty – 23 June 2025
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Positional Traders: Continue to hold long positions as long as Nifty sustains above 24,885. Trailing stop-losses should be maintained below 24,658.
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Breakout Buyers: New longs can be initiated on a sustained move above 25,238 with upside targets of 25,363 and 25,590.
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Intraday Strategy: Buy on dips near 24,885 with a stop-loss at 24,658. Book profits near resistance zones.
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Avoid Shorts: The trend remains firmly bullish; shorting is not advised unless the index closes below 24,533.
Frequently Asked Questions (FAQs) – Nifty Forecast for 23 June 2025
Q1. Why did Nifty rally on 20 June 2025 ?
A: The rally was driven by strong institutional buying in heavyweight stocks like Reliance, HDFC Bank, and ICICI Bank, along with improved global sentiment and technical breakout above key resistance.
Q2. Is the Nifty trend bullish now ?
A: Yes. Nifty has confirmed a bullish breakout above 25,000, and as long as it stays above 24,885, the trend remains positive.
Q3. What are the key levels to watch today ?
A: Support is placed at 24,885 and 24,658, while resistance levels to watch are 25,238 and 25,363.
Q4. Which sectors are showing leadership in this rally ?
A: Financials, energy, and auto sectors are leading the uptrend. IT and FMCG remain laggards but may see rotational buying.
Q5. Should I buy Nifty now ?
A: Buying on dips is advisable as long as support at 24,885 holds. Use tight stop-losses and focus on quality stocks within leading sectors.
Conclusion
The Nifty 50 index has entered a bullish zone with strong backing from market participants and sectoral leadership. A close above 25,238 today could signal the beginning of the next leg of the rally. However, traders must remain cautious of global triggers and manage risk wisely in the current volatile environment.